WHAT IS COWORKING?
It is estimated that the workforce is made up of 30% freelancers which is predicted grow to 40% in 2020! Today here are approximately 15,000 existing co working spaces world wide and the Global Coworking Unconference Conference (GCUC) estimates the number will double by 2022!
Why the explosion in shared co working spaces? Coworking is the free market solution to an increasingly de-centralizing work force. They solve several of the problems that Entrepreneurs’ and freelancers face today.
Coworking reduces risk by reducing start up costs.
Most entrepreneurs and freelancers are faced with a high start up cost of either equipping a home office or leasing space. This includes all the furniture, equipment and staff needed to run their business. Coworking spaces solve this issue by providing all the necessities for running your business. Members are only required to pay membership fees. This enables start ups to focus on doing business rather than managing these huge costs.
Coworking creates a collaborative community.
If you are a small business owner you can relate to complaints of feeling isolated, overwhelmed and uninspired, especially if you have ever had to work from home. Often, we feel doubtful and second guess ourselves with no community to share ideas with. You are constantly bombarded with domestic distractions, and family responsibilities. Coworking spaces offer a combination of dedicated and common collaborative work areas for their members. This evolves into a collaborative community of entrepreneurs who inspire, support and share skills. This is why coworking spaces are often called incubators for innovation.
Coworking creates a professional touch.
Inviting clients to your home or meeting in a public place can limit business opportunities and can seem unprofessional to your clients and imposing to you and your family. Coworking solves these issues by providing a professional atmosphere for you to interact with clients.
Coworking and Shared Spaces are very diverse!
The explosive growth in shared spaces of various types demonstrates their effectiveness in reducing cost and creating community. Entrepreneurs are not the only ones who have taken advantage of shared spaces, so have hobbyists. Makerspaces, Hackerspaces, and citizen scientists are using shared space to reduce cost and increase accessibility for those who can’t afford specialized equipment or space of their own.
Niche coworking is growing.
Some coworking spaces have thousands of members and several locations world wide. These spaces are designed around fulfilling the needs of a typical small business. Some can even accommodate larger companies or entire departments.
Many coworking spaces tend to focus on your administrative business needs but generally don’t equip themselves for niche businesses who might require specialized equipment. Working closely with other entrepreneurs who do business in the same industry provides a higher level of collaboration and community. This explains why niche coworking is growing. These niche networks include everything from developers/programmers, musicians, artists, biologists even construction companies!