The business benefits of coworking spaces

The use of coworking office spaces is increasing year by year. The latest research available, the 2017 Global Coworking Survey, has thrown up some interesting information about the type of professionals who are currently renting desk and office coworking space. The employment status of people who use coworking spaces is 41% freelancers, 36% employees, 16% employers, and 7% other.

Why do people use coworking spaces?

The Survey found that 59% of members are looking for a good social atmosphere, with more than half joining because they want interaction with other members and to be part of a strong community. A significant number of members choose coworking spaces that are close to home (around a fifth of them walk to the office), offer good value for money, and have good transport links.

Networking

With well over half the number of people in a coworking space being entrepreneurs in charge of their businesses, the benefits of informal networking are phenomenal. Interacting with other business people daily can build the trust and familiarity you’d normally have to spend many months working on in a formal networking group. 71% of entrepreneurs in coworking spaces end up doing work for each other, and in 11% of cases, coworkers have joined forces and set up a new business together.

An additional benefit is that you’ll never be lonely. Around 45% of members have previously tried working at home before deciding to rent coworking space. That’s because they have spent large chunks of the day on their own, and miss the companionship of being surrounded by other people.

Higher productivity and motivation

Another problem many home workers experience, as a result of being on their own, is lack of motivation, which consequently has an adverse affect on their productivity. Being in a working environment can significantly improve motivation, not to mention taking away the temptation to do lots of other, non-work-related things that many home workers tend to end up doing…

Budget

Keeping on top of your budget is vital if you run a small business and unexpected bills can cause huge problems. By renting space in a coworking office like the UOE Hub, you’ll have a better idea of what you’re spending every month as the rent includes electricity, heating, local taxes. As an added incentive, we have unlimited tea and coffee available in the kitchen, so you won’t even have to spend money on a pint of milk!

A professional address

Many people feel uncomfortable giving out their home address, but if you work from home, that’s what you’ll have to do. Working in a serviced office space solves this problem, and enables you to invite clients to pop in whenever they need to see you.

However, if you don’t need a separate office but would prefer not to use your home address as your official address, talk to us about a virtual office, where you’ll get the best of both worlds.