Five Benefits to Working in a Coworking Space

The U.S. Small Business Administration reports that self-employment as a primary occupation has continued to rise over the last eight years. As more people are either freelancing or starting their own businesses, this trend has contributed to the increase in coworking spaces.

According to Forbes, “The ‘shared’ office model is rising in popularity and has been for the past decade. Back in 2007, the trend was almost unheard of, with only 14 documented coworking spaces in the United States. Now, there are more than 11,100, and we’re projected to see more than 26,000 spaces hosting 3.8 million people by 2020.”

Before coworking spaces, many of these entrepreneurs were working from home, out of coffee shops, or at their local libraries. While these options may be free, they’re not without their headaches; coffee machines and kids’ storytime can be distracting. In the last 10 years, the proliferation of coworking spaces has been a beneficial development for small businesses.

There are so many benefits to coworking, but here are our top 5:

Increase Your NetworkingOpportunities

“Your network is your net worth” is an oft-quoted phrase for a reason. Think about it: how many times have you received an opportunity solely off of a referral? All business owners and entrepreneurs know that networking and word-of-mouth referrals are critical components of their success. The beauty of working in a shared space is that you have numerous opportunities to connect with a variety of folks in various industries (from tech to financial services to design) who could easily become valued contacts in the future.

Here at BCL, many of our members connect through events like our weekly Salad Wednesdays, happy hours, and lunch-n-learns. Not only do these members make business connections with each other, but many of them have even developed friendships.

Co-working is Cost-Effective

When operating out of a coworking space, you get to cut costs on some aspects of running a business, while having the benefits of a community at your fingertips. At Brooklyn Creative League, you get to take advantage of affordable rates, while working at a spacious, semi-private carrel desk, with access to conference rooms, lounge areas, and more. When you work at a coworking space, you don’t have to worry about running out to get ink for your printer, running through all of your coffee and tea, and dealing with other little expenses that add up over time.

Alleviate the Loneliness of Being a Team of One

Being an entrepreneur can be quite rewarding, however, working from home can have an isolating effect. Working amongst others can give you a sense of community, and can also spike your creative juices. As Entrepreneur puts it, “taking the risk to invite others to work alongside you breathes new life into the creation process and shows in the finished product, as well.”

Take Advantage of Security and Access

Many coworking spaces offer 24/7 access. With this accommodation, members have the luxury of knocking out a deadline at 11:00 pm, or beating the morning rush to arrive early in the morning. There’s no need to worry about getting to the coffee shop before the rest of the crowd, or asking someone to watch your laptop while you go to the bathroom. When you purchase a desk membership at a coworking space, you avoid all of the inconvenience and anxiety that comes with working out of a café.

Gain a Leg-Up (Especially for Startups)

Coworking spaces have also been the home to some successful startups such as the most renowned startups including Uber, Instagram, and Spotify, according to Coworking Mag. There is no question that coworking spaces have helped many great ideas take off into the world. With all of the available resources, coworking spaces allow small teams and companies to thrive.

Want to know more about the benefits of coworking? Download our free ebook!