How Coworking Spaces Can Help Your Small Business

by Sean Ross

2 min read

You might feel bogged down or alone handling the day-to-day challenges of keeping your new small business or startup afloat. Using a coworking space provides a unique opportunity to learn from the experiences of other businesses tackling similar challenges. Such spaces also allow you more flexibility when it comes to your time and make it possible to save a lot of money on office space.

Savings

The cost of commercial real estate rentals often puts office space out of reach for freelancers, independent professionals and small businesses. Coworking offices in Canada offer inexpensive plans for such businesses; most charge daily fees of around $25 per person, and monthly plans cost no more than a few hundred dollars. Using a coworking space saves you the cost of office furniture, printers and copiers, an IT setup, office kitchen appliances, food, and utilities. The amount of money you save using a coworking space can make the difference between success and failure, depending on your funding.

Focus

Maintaining your business’s premises – for example, making sure the lights are on, the internet is up and running, the company fridge is stocked, the cleaning crew does a good job – may shift your focus away from your implementing your business plan. Coworking spaces usually come with everything needed to run a business, from tech support to snacks, making it possible for you to dedicate most of your time to building your business. Many coworking facilities also offer training and other benefits, such as investor pitch nights, so you don’t have to spend time organizing such events to keep your employees engaged.

Inspiration

You might feel like you’re in a vacuum while you’re running your small business or a startup from your own business premises. In a coworking space, however, you’re surrounded by businesses experiencing similar challenges. Observing how your peers solve problems can cause you and your staff to understand the breakthroughs you need to get to the next level. Being in the same space as businesses like yours also permits hassle-free networking; you can connect with entrepreneurs at the same table or while having coffee in the lounge. The coworking environment provides opportunities to spread the word about your business and brand.

Work/Life Balance

Coworking spaces offer the structure some professionals need to be productive. At the same time, many coworking spaces stay open 24/7, which makes it possible for you and your team to have a better work-life balance. You can, for example, leave work to attend fitness classes and not worry about being in a deserted office building after hours should you want continue working later in the day. The flexibility coworking spaces offer help prevent burnout.

Scalable Workspace

Your business is growing; it might be just two of you today and 10 of you tomorrow. Coworking spaces can accommodate your space needs as your business grows. Even if you rent an office, you might use a coworking space to accommodate the workers you need on a short-term basis.

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