Coworking spaces are an integral part of local business culture, but they don’t always get the credit they deserve for that. If you’re running a startup and you’re unsure what your next steps are, let’s introduce you to the world of coworking, with five ways that a coworking space can support your local business.
Working from Home Isn’t Always Healthy
A large proportion of us have spent the last year or two working from home, and most of us were excited to see our colleagues again in person – but for those of us who run our own businesses, that wasn’t necessarily an option. We’ve been working out of our spare bedrooms as long as we can remember, no return to work drinks for us! There’s no question, however, that spending so much time working in the same area where you sleep, eat, and relax, isn’t particularly great for our mental health.
That’s one of the reasons a coworking space can be integral for a local small business. You can have a separate workspace that you don’t pay an arm and a leg for, or that ties you into long running contracts. You can network, chat over a coffee in the cafe, and then get your head down and work in an environment that’s been designed for productivity.
Having separation between work and home might seem like a dream for small local businesses, but coworking can make that a reality.
Expansion without Overheads
If you’ve been running your own business for a while, you might be at a point where your spare bedroom doesn’t really fit you anymore; it’s easy to end up drowning in products, packaging, and paperwork.
But again, expansion doesn’t come cheap. Renting an office space can be great – but is often a big commitment, and even then you need to furnish it afterwards – the cost of ergonomic furniture, keyboards, mice, and printers adds up pretty quickly.
The best part of a coworking space is that you get all these resources provided to you at a fixed rate without necessarily being tied into rolling contracts or huge deposits. Need an extra screen every so often? Well, in a coworking space that might not be a purchase you need to make, you can just grab one when you want to use it. Access to all these resources means you can spend your time actually doing your work, instead of unjamming that five year old printer – and it’s affordable.
Why does this matter for local businesses? Any profits you do make can go into actually improving your product or hiring new employees, instead of going back out on office resources.
An Entrepreneurial Community
We’ve all realized over the last few years that having a community around you is really important – why should being an entrepreneur make it any different?
You don’t just get to meet new people everyday in a coworking space, you get to meet people who’ve been through the same struggles and know what it’s like to run a business. Having support from people who can relate to you and share their advice is crucial for your growth; not only will you feel more grounded and confident in your decisions, but you’ll have access to knowledge that otherwise you might not have.
Coworking spaces are home to businesses of all sizes and from all sorts of backgrounds, so you’ll get a look into the world of entrepreneurship from hundreds of different perspectives. No matter your issue, there’s bound to be an expert on it in the building.
Feeling a bit shy? No problem! Most coworking spaces run Members’ events that give you a chance to network and get to know people without having to disrupt them at work. Going for drinks, playing sports, and meditations are all common coworking space events, so there really is something for everyone to get involved with.
Collaboration
After community, we’re at my favorite thing about coworking – the ability to collaborate! With so many businesses in one place, you’d be silly not to use that to your advantage.
If you need a new packaging design, there’ll be a graphic designer in the space who would be more than happy to help. Is your website broken? Don’t panic, there’s a website developer in the building too. Just been offered a project that you’ll need extra hands on? Reach out to one of the many freelancers nearby to help out, instead of rejecting that proposal.
Nothing is out of your reach when you have the power of a small business community at your fingertips. Suddenly, taking on huge projects and expanding your business to the next level doesn’t feel so out of reach; for a small local business, that mindset is indispensable.
Making Growth Accessible
Because you aren’t tied into any long term contracts, you have the ability to adjust your coworking membership to suit your business needs as they change.
Rather than having to hold off on that new hire until you have the space, you can extend your membership to include an extra employee. Once you have enough employees to think about an office, you can expand into a serviced office space without having to leave the community you’ve become a part of. You can even hire a freelancer on the other side of the country if your coworking space is franchised, or has a meeting room that’s set up to run hybrid meetings seamlessly.
Everything we’ve talked about can often seem really far out of reach when you’re starting on your journey as a local business owner, but coworking makes them an achievable reality. Many of the businesses I work alongside wouldn’t be where they are today without the resources and community of the coworking space alongside them.
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