How are shared office spaces becoming a feasible option for new upcoming businesses/ expansion of existing ones?

The new trend has it, be it independent entrepreneurs like freelancers, professionals, artists or for that matter like start-ups or well-established businesses looking for expansion of their own business. The independent entrepreneurs find shared office space a more convenient and pocket-friendly option wherein they could avoid all the distractions which they face while working from home. A shared office is also very beneficial for start-ups and organizations that are looking for an economical option and also if one would want to reduce the operational costs and attain the break even at the earliest. Adapting and working in an environment with other co-workers who are not related to your business fosters a unique environment. One may feel motivated, and also be able to adapt to the talent of others which could be helpful in prospering one’s own business. A structured working environment is pivotal for growing a business and thus these meeting rooms could be utilised to work on projects with your team, and conduct meetings with your clients.

Things to be considered before opting for a shared office space:

·         Affordability: Pocket-friendly space should be considered.

·         Accessibility to services: Mostly one considers access to technological services like fast internet, telephone lines, proper network coverage so that calls could be received/made etc.

·         Space: The office space should be as per the needs and requirements of one’s business.

·         Location: The area where the office is located should be as such which is easily located by the clients/customers.

Benefits of working in shared offices:

·         Reduces the lethargy: If one works from home one is working at one’s own pace with a lot of distractions but if a proper workspace is bought one could be more productive. Our brain cells are more active and more ideas come into the picture.

·         Better access to technology: Fast internet access, telephone lines, fax machines, printers etc. are all very much required for a smooth functioning of any business which could be availed in shared offices.

·         Motivation and network building: A shared office space is generally shared with other freelancers or small businesses who are also equally or more enthusiastic about their new venture from which one could adapt and learn many new things, motivate one another to perform better and also if their fields are anywhere related a collaboration could also take place.

Now in this fast-paced environment and with eager to succeed approach, working from shared spaces is surely worth a try. Instead of working from home or favourite local café, working from shared space yields better results.