It’s that time of the year; we’re starting to look ahead into 2020 and what it could bring us personally and professionally. If you’re looking to start a new business, grow your existing small business or make your side hustle a real thing, you should consider doing it in a coworking space.
Coworking, or flexible spaces, offer shared office space with readily available infrastructure and services at more cost-effective rates than those offered in traditional office spaces. Over the years, coworking spaces have evolved into a plug and play environment that integrates all the convenience of traditional office space with less cumbersome ties and paperwork that don’t appeal to emerging entrepreneurs.
According to Instant Offices, there are approximately 35,000 flexible workspace locations across the world showing; proof of the appeal to workers in this age. There is a range of brands from global organisations to local independents, all with different benefits. If your New Year’s resolution is business fame and fortune in 2020, here are five reasons why a coworking space is a must for you.
1. Working from home isn’t always the answer
While working from home is a cheaper option, getting off the couch and outside of the normal flow of life to connect with other people can be priceless. Coworking locations enable you to work on your business while providing social interaction which is not only a basic human need but essential for increased productivity and getting you and your venture known. Furthermore, separating work from home compliments the never-ending endeavour for a work-life balance.
2. Networking and growth opportunity
Beyond costs, a coworking space allows you to connect with other organisations. Being around individuals from different sectors and different companies with different entrepreneurial activities plays a pivotal role in an entrepreneur’s journey and their business’s growth. The opportunity for collaboration with other innovators allows for a higher level of creative thinking. Some spaces also host regular networking events and workshops with different objectives that are aimed at assisting and empowering their members. In the end, having a sense of community with like-minded professionals from various industries that provide mentorship to one another provides useful opportunities to grow your business.
3. It’s professional
According to global real estate giant Jones Lang Lasalle (JLL), flexible working spaces are set to grow up to 30% annually for the next five years. While more and more large companies are moving into these spaces for financial and good HR reasons, for freelancers and smaller businesses, coworking provides a professional setup with fast wifi, good coffee and nice meeting spaces all of which automatically creates a sense of success.
Coworking spaces are called flexible spaces for a reason. Options range from a hot desk for a day or week, to small private hubs with a couple of desks, to hundreds of desks for a longer period. With growth for new and small businesses hard to forecast, a flexible workspace makes it easy for entrepreneurs to scale space up or down as required. A coworking space comes with everything a basic office needs and depending on the brand you choose, your add-on options can vary from IT support to gym access.
5. Attract talent
If all goes according to plan, you’re going to need more staff sooner than you think and there’s a lot of research that points to the attractiveness of coworking spaces for employees too. According to Harvard Business Review, people thrive in coworking spaces for a range reasons from the location to funky design but more and more coworking is considered a movement that aspires to be an inclusive community that offers collaboration, learning, and sustainability, so when people come to work, they’re part of a social movement every day which is an incredibly attractive offer for Gen Ys and Zs!
Andrew Robinson is the co-founder and Executive Director of SiSebenza. His business strategy is built on a conviction that Africa offers the best opportunities for entrepreneurs chasing returns. The continent is daunting but exciting and success hinges on finding the right deals.
Published on HR Future