Coworking Space Benefits & Increased Productivity
Updated March 3, 2021
Coworking space benefits are numerous. However, coworking spaces are not often the first recommendation with looking at opportunities to increase business productivity. For many business, possibly your own, they absolutely should be. This is especially true in 2021 as more businesses have had to pivot partly or entirely to remote operations in the past year and need new flexible office spaces.
How to increase productivity is a question that is on the mind of business entrepreneurs around the globe. The issue of increasing productivity without increasing your expenses is one of the most discussed problems in the business world. This is especially true for small or startup businesses.
What if I told you there’s an easy way to increase productivity without increasing your expenses – maybe even decreasing them?
It’s not a pipe dream. It’s completely possible with a coworking office space.
Coworking spaces are the new trend in efficient business models. It is a shared office area that is available to businesses who want to decrease their expenses by minimizing their overhead costs. With a coworking space, you pay a small monthly rental fee to have access to a working space that is shared with other members. It acts just like a permanent office – without all of the time and money that comes with it.
Coworking Space benefits are not just financial – they can also increase your productivity. They can put you on the path to better business decisions (and bigger profits!). Here are a few ways that using a coworking space benefits can help increase your business productivity.
It can be difficult to focus on your business while working virtually, especially if you’re working from your home and don’t have a designated and separate office area. There are so many opportunities for distractions at home. Family members, pets, backlogged chores or repairs, and easy access to television and other devices are just a few examples.
There are certainly ways to improve productivity from home. But a shared office space can increase your productivity by providing you with a working area that is quiet, structured, and free from life’s distractions.
Studies show that the process of getting dressed, commuting to an office, and working in a structured environment increases productivity and allows for better business decisions. Coworking spaces surround you with the energy of others vs. the drone of your TV. You can focus on your business rather than what’s on Maury today.
Exchange Ideas With Like-Minded Individuals
One way that a coworking space can increase your productivity is that it allows you to collaborate with like-minded individuals. Working remotely keeps you isolated. You miss working with people in your industry who can offer advice and resources to help your business thrive. While just about any information can be found via the internet, digital research cannot replace the benefits of face-to-face interaction.
In a shared office space, you’ll be immersed in an environment with other businesspeople that fosters creative collaboration and business innovation. Hearing the challenges and successes of your fellow businesses can stimulate your own business growth and help you anticipate problems of your own!
In fact, a study conducted by Small Business Labs shows that 80% of coworking members report turning to their fellow coworkers for business guidance. That’s a large number of business owners who leverage coworking spaces to fuel their business decisions and gain new insights in their industry.
Of course, there are times when you absolutely cannot meet others in person, so check out this article with Tips for productive virtual meetings.
Networking to Build Future Opportunities
Sharing an office space not only promotes collaboration, but it also provides you with a great platform for business networking. Local connections are important to a business’s success, and they can be hard to form when you work virtually. But coworking spaces provide a community in which you can find potential clients, form business connections, and access local resources.
Remember that study we referenced by Small Business Labs? It showed that 82% of coworking members report substantial growth in their business networks through office sharing. Productivity cannot be achieved without steady business growth, and a strong network is one of the easiest ways to ensure that your business remains relevant and prosperous.
Access To Meeting Spaces On Demand
If your virtual business requires the occasional client meeting, a coworking space is the perfect tool. Finding and renting a meeting space each time you need one can be time-consuming and expensive – especially if your meeting is last minute. But with a coworking space, you’ll often have access to impressive meeting spaces in your office that you can use whenever you need them. You’ll save time and headache on the front-end and allow yourself more time to prepare to WOW your clients instead of worrying about where you’ll meet them.
Time And Money Coworking Space Benefits
Owning a designated office space is time-consuming and expensive. There are countless hours spent in the set-up of a permanent office: you’ll have to find a space, negotiate a contract, furnish the office, and set up your monthly utilities. Not only will this take a lot of time, but it will be extremely expensive.
Maintaining a permanent office is the same way. You’ll need to have it cleaned regularly, pay monthly and yearly bills, maintain insurance, and prepare for various other unforeseeable expenses. The time and overhead costs associated with permanent office spaces can be the detriment of a small or startup business. But a shared office space solves all of these problems!
Two of the key coworking space benefits are saving you time and money. With a coworking space, you pay a single monthly fee for the services and space that you will actually use. This increases your productivity from a financial standpoint because it decreases your expenses and allows you to budget your money more efficiently, using your savings to fund more productive departments. It also gives you more time to be productive, as it saves you the hours you would spend obtaining and maintaining a permanent office space.
If you like what you’ve read so far, check out 8 Surprising Things a Coworking Space can do for Your Business.
If your business had to pivot to remote operations, check out how you can go virtual permanently!
How Can Starthub Help?
If your business is located in Miami, Starthub Centers is the perfect solution for your coworking needs. Here are the Coworking Space benefits that Starthub can offer your business:
- Location, location, location! Our state-of-the-art facility is located right in downtown Miami, just minutes from award-winning shopping, restaurants, and beaches.
- Our coworking plans are completely customizable to your business. We offer executive offices for those who need a secure and private space to conduct operations, and communal desks for those who want to be right in the heart of the day’s discussion.
- Our easy-to-use application makes booking your meeting space a breeze! Use your dashboard to view available rooms and book them in real-time with the click of a button.
- Perk up your mind with our free coffee and break rooms – plus other great amenities available only to our members.
- The minds of our established members are yours for the picking – work alongside over 100 industry leaders, successful entrepreneurs, and local business leaders.
If your business is located in Miami, visit Starthub to get started on securing your shared office space today. Schedule a tour of the place now – no obligation to join! But 90% of our space is already full of the leading industry experts, so contact us today to join their ranks!