What Is Coworking Office Space?

For those who are unsure of the phrase, ‘coworking‘ is a term used to describe a working arrangement in which people from different businesses and companies come together to work in a single shared office space.

The first coworking spaces appeared in the early 2000s; the San Francisco coworking space was one of the first, which primarily mainly attracted self-employed remote workers.

Such as freelancers and web entrepreneurs searching for an alternative working environment from coffee shops, traditional business centres, and home offices.

2 person suite with s 2 built in workstations
2 person suite with s 2 built in workstations

The Global Phenomenon

Since the launch of the first coworking space, coworking has become a global phenomenon, and many coworking spaces have evolved to keep up with the changing ways we work.

Today, despite the worldwide pandemic, the number of coworking spaces worldwide will continue to grow and is on schedule to reach 25,000 in the next three years.

Shared Facilities That Help Reduce Business Costs

Modern coworking spaces are best characterised as a flexible space with shared facilities, services, and tools. Sharing infrastructure in this way helps reduce the cost of running a traditional office set-up for all its members.

However, coworking spaces are considered more than just a way of reducing overhead; those who use them see themselves as part of the growing coworking movement.

The spaces are community centres, collaboration hubs, and social spaces where work people from different backgrounds can come together to share expertise and explore new and exciting ideas.

Is Coworking Space Right For Everyone?

If you’re one of the following or working in the following sectors;

  • Freelancer
  • Digital nomad
  • Entrepreneur
  • Startup
  • Small business
  • SME
  • Large corporation

Or anything in-between that needs the use of a flexible, convenient, professional-looking location, then yes, coworking space is an excellent idea for you and your business.

However, before you jump in and make a decision, you need to remember that coworking spaces have different types of memberships, so it’s worth taking your time to consider the requirements and benefits of the one that suits you best, for example, think about;

  • How much space do you need?
  • Do you need a private office, or are you happy to share a desk?
  • Are you comfortable working in a community, or are you the type of person who needs peace and quiet to work?
  • What’s your budget?

Another thing you need to remember is that while coworking spaces can be used for personal use, they are not designed for private office use. Businesses that require more privacy can rent more traditional offices in these spaces.

Typically these spaces are also less expensive than traditional office spaces and so are perfect for startups.

What Is The Concept Of Coworking?

Shared coworking office spaces are ideal for small businesses and individuals, as not only are they often cheaper and more flexible than traditional office spaces, they come with all the infrastructure in place, which helps keep the business overheads lower.

Along with this, they often come with a whole range of perks, like beer on tap, kitchen facilities, soundproof phone booths, conference rooms, exercise equipment and networking events where you can meet other like-minded members of your coworking community.

What Is The Concept Of Coworking?
What Is The Concept Of Coworking?

1. Business Growth

These amenities are not only beneficial to business owners, but they are also great for your business’s growth. In addition to being cheaper than traditional office space, a coworking space can give your business flexibility, allowing it to scale up or down as needed.

2. Membership options

Most coworking spaces offer various membership options, and the costs can vary depending on how much or how little you want to use it.

3. Perfect For Networking

While most businesses will need more space in the long run, coworking spaces are often ideal for networking. The flexible environment of a coworking office space also enables greater productivity and creativity.

4. Professional Location

Besides being more convenient, coworking spaces also help businesses grow. It’s not just about the location. A good coworking space will be comfortable for everyone, including the owner.

5. Infrastructure

Moreover, many of these spaces are available with flexible lease terms. In general, they offer fully equipped office space, monthly agreements, and plug-and-play facilities.

This means that they’re more affordable than traditional office space.

6. No Leasing Hassles

Most companies have to pay for their own office space, but because, as a coworker, you can share the same space with other users, meaning the set-up costs for a coworking space are extremely low.

Plus, of course, you avoid the hassle of leasing an office. However, if you have a large company, you’ll have to pay extra money for a coworking space.

What Is Coworking Desk Office?

A coworking desk office means that your workspace is an “open-air” concept, not your typical workspace surrounded by walls or dividers.

One of the great benefits of a coworking desk office is that you can if you prefer, arrange a dedicated desk, so you don’t have to share your workspace with others.

With a dedicated desk, you’ll know you and all your stuff will be in the same spot every day.

This is ideal for those people who get a little anxious about picking their seat at the community table; this type of coworking desk helps ease the daily transition about knowing exactly where we’ll be working every day.

What Are The Types Of Coworking Spaces?

Coworking offices are often a mix of serviced and shared workspaces. There are many differences between the two, but they have similar features. For example, they are furnished and pre-cabled.

The majority of coworking spaces offer access to a range of amenities, including breakaway areas, exercise areas, fitness areas, and coffee shops and restaurants.

While coworking office spaces are not suitable for every business, they do offer a flexible, convenient and inexpensive alternative way to do business.

For example, you do not need to sign a traditional lease to rent space; instead, you can rent a spare desk in someone else’s commercial lease and enjoy the freedom of month-to-month flexibility.

With flexible office space, you can work around your schedule and keep your expenses low. You’ll also be able to customise your workspace for the best results.

Furthermore, they can provide valuable resources to the members of the community. If you are an entrepreneur, coworking workspaces can be an excellent investment and an essential part of your business plan.

Finding The Right Coworking Location

Finding a suitable coworking space that ticks all the boxes is never easy, and that’s why M1 Business Hub in Brisbane have pulled out all the stops.

To ensure that you and your business have the flexibility to maintain a professional presence while always making sure you direct those all-important funds towards the more essential aspects of developing your business.

Freud said love and work are the cornerstones of our humanness, that productive labour and positive human relationships improve one’s physical and mental health. Today, work is what you do, and no longer a rigid place you go to

Talk To The Experts

Coworking has moved on from the first official coworking space in San Francisco and continues to be the perfect solution for remote workers.

So if you are an aspiring entrepreneur, startup, or you’re worried about the investment needed in a physical office space, then talk to the expert team at M1 Business Hub and let them introduce you to your perfect coworking space.

You can reach them at reception@m1businesscentre.com.au or by calling 07 3387 0111