The Benefits of Using Shared Office Space, and CoWorking, a Guide

According to a study by Everlance regarding self-employment, nearly 27 million Americans will leave their full-time jobs from 2017-2020, bringing the total number of self-employed individuals to 42,000,000 in the U.S. alone.

Many people are looking for a ‘laptop’ lifestyle and are fed up with long hours, poor working conditions, worse management, and the ever more lengthy commute. They’re looking for a way to control their own lives and get a better work-life balance.

More and more people are looking to leave big business and corporations to manage their own business enterprises or their own start-up freelance venture.

Along with this rise in self-employment, more and more people are looking to work from home, or flexible office spaces, where they aren’t tied to a desk from 9-5 or increasingly 8-7. In this article, we thought we would take a look at some of the benefits of ‘hotdesking’ and how freelancers can enjoy a more flexible way of working in their start-up business.

Let’s read on to see how you could start benefiting today. But first, here’s the quick answer…

What Are The Benefits of A Shared Office Space? Many freelancers and other entrepreneurs are looking to find an alternative way of working by sharing office space. The benefits of this kind of working are listed below:

  • Cost-saving
  • Onsite tech services
  • No lengthy rent contracts
  • Low-cost utilities
  • Business networking benefits
  • Extra value benefits such as coffee and Free parking

Now we can clearly see the benefits of sharing your office space or using a hotdesking approach, let’s take a more in-depth look at the benefits and why working in a flexible location can work really well if you are setting up your own enterprise.

Let’s start first by looking at the cost-saving benefits attached to this way of working.

Cost Saving

Any start-up or small business is going to always be on the lookout for ways to cut their overheads or monthly outlay. Keeping a tight rein on your overheads and watching your cash flow can make the difference between a successful venture or a more unsuccessful one! One of the main advantages of sharing office space has is the huge cost savings it offers, rather than the traditional route of being locked into a huge monthly rent.

When you are taking the plunge to start your own business, paying out for expensive IT equipment can be a real drain on your resources. Sometimes having access to IT professionals can be difficult too. Often the self-employed have to source this kind of help elsewhere which I can be a lengthy process and also difficult if it’s not your main skill.

Many shared office spaces can offer you these resources at your fingertips, from secure high-speed broadband and free WiFi to a full suite of IT services. Let’s look below to see how using a dedicated shared office space can help save you on your monthly IT bills and provide expert IT help to set you on the right track building your successful startup.

Onsite Dev Support

At MyBuddies we can offer you dev support services. Whether you are looking for a code review, custom development, testing, or simply just to consult with a programmer, we have a solution to meet your needs.

No Lengthy Rental Contracts

Additional costs such as long term monthly rental contracts can often be the difference between keeping your cash flow under control, allowing you to build your small start-up or self-employed enterprise.

Many shared office spaces, including our own here at mybuddiescoworking.com, offer a flexible rolling contract. Dependant on your business needs a shared office environment can give you either a standard hot desk contract which generally gives you such benefits as:

  • Free parking
  • Free coffee
  • Free WiFi
  • 24 hour unlimited access

Or for those who prefer a dedicated seat and office space, add in the use of a boardroom to hold meetings and greet/entertain your important clients.

Many shared office spaces can also offer a custom office set up for an additional cost which gives you all the benefits of a full dedicated space without the hefty price tag and commitment of a traditional whole office space monthly rental. Not only will this keep your business fresh and able to easily adapt to change, but will also allow you to move forward with your business expansions without ties.

Now we’ve seen how the flexibility of a rolling monthly contract can assist you when you have started a new business, Let’s take a look below at the other massive savings you will make coworking in a shared office space.

Low-Cost Electricity, Gas, and Water

A huge major benefit of sharing an office space with coworkers is the massive savings in terms of gas, electricity and water bills. Unlike traditional business rentals, these fundamental utilities are already included in the cost. This can really help startups and small business to get ahead with their business needs and launching their freelance career.

Along with the more obvious cost savings, sharing your workspace has the advantage of putting you right in the center of all things entrepreneurial, working alongside others. Let’s look below at how that can benefit your fledgling business – or even your existing mature business.

Networking

Sometimes working from home can make you feel a little isolated and also comes with its fair share of distractions!  So an undoubted benefit of sharing an office space is total concentration and also other people to share ideas with.

Another fabulous benefit of hot-desking or sharing an office space with coworkers is the fact you have a dedicated creative space in which to bounce ideas off other freelancers and socialize with.

Although you may be in different industries, there are many common themes that run through any kind of entrepreneurial venture, so it could be you may have skills others lack and vice versa.

You never know who you may be seated next to on a day to day basis, so it may provide the beginnings of brand new collaborations, an increase in your skillset or an opportunity to gain important referrals.

Lastly, but not least, let’s take a look at how you can get extra value from coworking in a shared space.

Extra Value Benefits

Working in a traditional office hire set up, there are often other hidden costs to be factored into your working day. Concentrating on building your empire can often require plenty of coffee!

Parking can also be very costly if, for instance, your offices are in the town center with premium tariffs. Here at mybuddiescoworking.com, we can offer you free coffee and also free parking.

So Finally

Thanks for stopping by and checking out our article. Flexible working is on the rise and the benefits of hot desking or sharing office space can really help you to make a success of your enterprise.

Enjoy over 2400 square feet of spacious modern office space, conference room, kitchen, and common areas – while working in a bright inspiring environment. If you would like to arrange to view would like any more information about any of the topics discussed above, get in touch with us at ….. and one of our expert and friendly team will be happy to help.