7 Reasons Why Businesses Thrive in a Coworking Space

Teams and individuals thrive in Coworking spaces

According to Harvard Business Review, there is something special about coworking spaces. Research shows that there are numerous benefits to using coworking spaces, including an increase in productivity, a boost in worker morale and the maximization of overall energy.

What was once perceived as home to freelancers, and small businesses is turning out to be home to large corporates who are moving into coworking spaces probably to tap into the myriad advantages of joining one.

Perhaps the new trends that we are seeing currently have highly been driven by big names like Uber, Spotify, Indiegogo, Instagram that started off in coworking space and are now raking millions in revenue.

Last year we shared tips on how your body and business can thrive and as a follow up here are some reasons that have helped companies thrive in coworking spaces as opposed to working from home or even setting up a traditional office:

Businesses have more job control.

Coworking spaces offer 24/7 access to its members. This allows business owners to decide whether they can put in a long day when they have a deadlines or take a long break in the middle of the day to attend to other. They can choose whether they want to work in a quiet space so they can focus, or in a more collaborative space with shared tables where interaction is encouraged. They can even decide to work from home, without repercussion, if they need to meet a repairperson or deal with a family member need.

And while coworkers value this autonomy, we also learned that they equally value some form of structure in their professional lives. Too much autonomy can actually cripple productivity because people lack routines. Coworkers reported that having a community to work in helps them create structures and discipline that motivates them. Thus, paradoxically, some limited form of structure enables an optimal degree of control for independent workers.

Access to a community of coworkers with varied experiences and skills

Connections with others are a big reason why people pay to work in a communal space, as opposed to working from home for free or renting a nondescript office. Each coworking space has its own vibe, and the managers of each space go to great lengths to cultivate a unique experience that meets the needs of their respective members.

Also Working alongside others in different industries provides a great networking experience. You can make fantastic professional connections that can come in handy further down the track.

Affordable office rates

If you’re starting a business venture on your own, you are likely to have a very limited budget. That means that you may not be able to afford startup costs such as office space, internet and other office supplies and equipment.

Coworking spaces provide the affordable alternative. For a low rental fee you can have access to high-tech office supplies and all the equipment you need. Plus, there are no long-term contracts usually. You can use the space for as short of a time as you like and save on your overhead costs.

Also most coworking spaces come up with different packages that allow you to choose on what best suites your pocket. For example, Nairobi Garage offers the Club Space package that goes for as low as KES 4500 + VAT and also offers the Day passes that allow you to access the spaces only when you need to be in the office for as low as KES 2000+ VAT.

Shared resources

Coworking works on the principle of shared resources. The burden of resources at a coworking space is distributed among all the members and hence, more amenities and equipment can be availed at a fractional cost.

Flexibility

Whether one wishes to expand his/her team or set up in a new city, Coworking proves to be the most cost effective solution for any business. There is no need to lease an additional office space or invest in new infrastructure; all one has to do is rent a few extra seats.

And if for any reason the business owner wishes to downsize his/her team then, unlike regular offices where there is no scope of reducing the rent regardless of the size of the team, co- working spaces permit you to cut down on the number of desks and other resources as per your office needs. This unique feature of co-working spaces lets you to keep your company nimble and agile.

Access to skill sets and increased productivity

Coworking space offers diverse members and the amount of interactions is much higher as opposed to the traditional office set-up. Most Coworking spaces insist on variety. This enables extensive knowledge sharing and networking. As a result, businesses may meet their next big client, or a valued vendor through their Coworking ecosystem.

Another advantage is that there are few or no instances of internal politics, glass doors, or direct competition in such co-working spaces. This specific advantage enables all members to draw upon the skill sets of others without putting on a ‘work persona’.

Great Locations

Being in coworking spaces allows you to work in high-quality buildings in great locations that may be out of budget for smaller teams or individuals. This has the benefit of opening doors to businesses to pitch to, building trust and adding value to the business as a whole. The majority of coworking spaces are based in areas with a lot of restaurants, bars and other activities for outside of the office and a quality escape to avoid burnout.

For example Nairobi Garage has its business Hubs located in prime areas of Nairobi that include: Spring Valley, Westlands, Kilimani and Karen. With these locations, not only do you get a prime address, your team also gets to plug in Nairobi’s entrepreneurial ecosystem – its a win-win.