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Benefits of Coworking Space

Thu, 15 Aug 2019 | Written by Corporate Suites Staff

Women working in an NYC Coworking SpaceSince the start of the modern office space, companies have been trying to find the perfect workplace solution to boost productivity and keep employees motivated. Recently, we’ve seen a shift from cubicles to open floor plans that aim to increase collaboration and team camaraderie. Offices are investing in a healthy snack and meal options to help keep staff energized and focused. Many businesses are even adding amenities such as ping pong tables and nap pods as a way to reduce stress and fatigue. While there are many options to explore when it comes to an office setup, one thing is certain: what works for one company will not always work for another. This is particularly the case when it comes to small businesses and startups. New companies just getting started and teams on the smaller side have a unique set of needs that should be taken into account when selecting an office space. One solution that many small businesses and startups have found effective are coworking spaces. Affordable, flexible, and community-driven, there are a variety of benefits of coworking spaces.

Affordability

Let’s face it, leasing an office space is expensive. This is especially true is large cities like New York. Sky-high rent prices are a big hurdle for many startups and small businesses who are hesitant to enter into a contract for a space they may outgrow in a couple of years, or may not be able to afford as business ebbs and flows during the early years. One benefits of coworking spaces is that they allow companies to avoid these potential challenges, giving them the freedom to scale up or down as needed. If your team grows by a few employees, simply add additional workspaces to your coworking commitment. Or, if you decide to send staff elsewhere to explore a new potential market, scale down your space requirements. Either way, a coworking space allows small businesses and startups to avoid breaking costly leases.

Flexibility

In addition to unmatched affordability, other benefits of coworking spaces is that they also offer a great deal of flexibility. For small businesses and startups just getting started, businesses are unpredictable. Your office needs can change drastically over the course of just a few months, making the decision to sign a long term office space lease a difficult one. A coworking space for startups, on the other hand, are incredibly flexible in their arrangement. From daily desk and office rentals to month-to-month commitments to longer-term solutions, coworking spaces allow you to assess your needs and adjust your contract on an on-going basis. As a small business or startup, you’ll appreciate an office space arrangement that accounts for changing profits and expenses characteristic of the early years in business.

Community

One other great benefits of coworking spaces for startups and small businesses is the strong sense of community developed. Coworking spaces are full of individuals and teams across all industries and at different stages of development. Many small businesses and startups feel energized surrounded by others enthusiastic about their work, feeling a strong sense that they are a part of a new wave of business soon to make a big impact. This, in turn, motivates and engages employees to stay focused and working hard to achieve goals. Additionally, many coworking spaces also encourage a strong sense of community by hosting happy hours and other gatherings to build relationships between businesses. In some cases, very meaningful professional and personal relationships are fostered as a result.

Networking

As a result of the strong community built within coworking space for startups, it may come as no surprise that they offer great opportunities to network. In a single room, individuals and teams from a variety of industries work alongside each other, able to connect and share ideas in a way they would not otherwise be able to. Many small businesses and startups see the benefits of coworking spaces as they find opportunities to collaborate with other businesses, connect with skilled professionals able to help with projects, or simply exchange advice and support as newer and smaller companies hoping to grow their brand.

Increased Productivity

Because many startups or small businesses don’t have a dedicated office space right away, employees often end up working at home or the local coffee shop. While it may seem like a dream to many to work in your pajamas, it can actually be a deterrent to productivity when there is minimal interaction with team members, easy access to distractions like the TV, or regular disruptions from family members. One other benefits of Coworking spaces is that they give employees access to an office environment in which to focus on their work. Not only do coworking spaces boost individual productivity, but they also give your team the opportunity to more effectively brainstorm and collaborate together. Instead of passively sharing ideas through email, employees are able to engage with one another in real-time.

Access to Amenities

One other benefits of Coworking spaces is that they often offer access to amenities that small businesses and startups might not otherwise have in the budget. Snacks and beverages, state of the art telecom services, modern furniture, front desk reception, beautiful decor, security, and more, coworking spaces have the feel of an expensive lease at an affordable price.

Office Solutions from Corporate Suites

Corporate Suites offers a variety of NYC office space solutions for small businesses and startups, from private offices to large NYC meeting rooms. We offer the flexibility your team needs as you continue to grow, providing adjustable short and long term commitments that suit your business and employees. Our staff is standing by to discuss the office solutions available to you. Contact us today!
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