New business ventures often begin life in informal spaces, such as the kitchen or garage at home. This is a sensible approach, enabling you to get up and running quickly while limiting your overheads. In time, however, spending at least part of your working week in a co-working environment can have significant benefits to your business and to you personally.
Co-working is a work environment where individuals work independently or collaboratively in a shared office space. These settings are increasingly popular because they offer a professional working environment but with some surprising added benefits. Here are 5 reasons why you should consider it:
As convenient as working from home might seem, it’s easy to get distracted with chores or routines that you simply can’t get away from. A co-working environment can give you the space to think clearly and focus. Harvard Business Review reported a study which showed that people who use co-working spaces were more productive.
The study found that being amongst a variety of businesses gave business owners the opportunity to explain what they did more often, and with that came a sense of reinvigoration and motivation for their own work. In addition, co-working spaces often create a micro-culture and sense of community where people are happy to help each other, offering their own unique skill sets amongst non-competing businesses.
Co-working spaces look professional which makes you look professional. You can usually hire additional meeting spaces to hold client or team meetings and with certain membership packages you can usually have an office postal address which is not your home. This helps to project a more professional image of your business, which, in turn, can make you feel more confident about your work.
Another big benefit to co-working, is the ability to collaborate with others, and the opportunity to practice your networking skills in a not-too-scary environment. Because of the nature of the space, you interact with other individuals from different companies, industries, and backgrounds every day. It’s an ideal way to network and gives you an instant group of like-minded business owners to potentially collaborate with, bounce ideas off or even source new business contacts from.
While the informality of working at home can be appealing, it can also be lonely at times. Spending some time in a co-working space can make a big difference. The HBR study found that co-working spaces are an effective means for combating the loneliness that comes from working alone. Of those surveyed, 83% reported being less lonely, and 89% said they are happier since joining a co-working space. Improved happiness also leads to better work and efficiency.
Co-working is a cost-effective solution for acquiring office space. The cost of renting space in a co-working facility is a fraction of the cost of a traditional office, but even more importantly, the membership commitments are far less onerous and do not ‘lock you in’ for a long period of time. Nor do you have to worry about the facilities contracts; wifi, heating, plumbing, cleaning and so on because these are all taken care of as part of your membership.
And if that isn’t inspiration enough, 50% of people surveyed by Officevibe reported higher incomes, as a result using co-working space.
49, an inspiring working environment in the heart of the New Forest, opened its co-working space on 7th January 2019. Come along to an Open Days during January and February to have a tour of our facilities. 49 will also be giving away the first year’s membership for free, so if you are looking to kick-start your business in 2019, claim your free 49 membership today.
Note – Statistics are accreditable to Officevibe & Harvard Business Review – Imagery and creative are accredited to 49.