How Coworking Helps Startup Businesses and Small Firms?

Coworking

Coworking is the best place to work. Everyone dreams of a corner office at the very top of the best commercial building in an upscale business district. The trappings that come with a successful business are often bright enough to blind us to one very important aspect: overnight success still requires years of dedication and hard work. If you let go of the notion that people like Bill Gates, Mark Zuckerberg, or Jeff Bezos simply fumbled their way onto a new idea and were lucky to get to where they are, you’ll have a better view of the bigger picture. 

The Biggest Firms Today Could Have Used Coworking 

Today, it is hard to remember or imagine a world before Microsoft, Amazon, or Apple. But the fact is, there was a world before them, and there was a world where these were minor, unheard-of companies with business visions that seemed impossible. So, while all three own spectacular office premises and are three of the most desirable employers in the world, all three had humble beginnings. Like any other start up or small business, they had to keep an eye on costs and make accommodations that paid off much later. As the legend goes, Microsoft and Amazon originally were basement or garage projects. Of course, you don’t have to take extreme measures like operating out of your parents’ garage or basement, or downgrading your Optimum packages these days.

Coworking Spaces Today 

The business world has grown to appreciate the innovation and ground-breaking ideas that startups frequently come up with. And as a direct result, new forms of businesses that offer support services to startups and smaller firms have begun to emerge. Coworking spaces are a great example. The owner or owners of, say, an empty building near a business district often revamp the interior, add all the essentials like printers, copiers, cubicles, furniture, and even meeting rooms. But they don’t restrict themselves to renting the premises out to a single business. These spaces, often known as coworking spaces, are very convenient for many different entrepreneurs, freelancers, and smaller firms that can’t afford the steep rent for floor space in many business hubs.

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Makes Great Floor Space More Accessible 

Floor space is usually at a premium in most urban areas, especially for commercial purposes. With smaller firms and startups, rent is a significantly daunting expense. These businesses typically are already stretching every dollar in their budget to the limit. Renting an entire floor for a year can be a huge expense that eats into revenues. But a coworking space that you share with other businesses and teams comes with only a fraction of the cost. This may be much easier to swing than a dedicated space. 

Offers Essential but Expensive Business Hardware 

Floor space is only one worrying aspect of setting up a new workplace. If you want your team to execute productive work and meet deadlines, you need to give them access to the right office tools and equipment. However, copiers, air conditioning, and safety systems are rarely cheap. Plus, if you buy them, you also have to be responsible for their maintenance and repair.

Even without the added expense, you can be sure this will impact business productivity and efficiency. But with most coworking spaces, access to general office equipment and hardware is included in the price you pay. So not only do you not have to buy new equipment and hardware, you also don’t have to worry about repair and maintenance costs.  

Grants Access to Better Internet and Bandwidth    

The internet and the hyperconnectivity it offers is the backbone of modern businesses and economies. However, many startups often don’t have the funds to access the kind of internet services they need, like a dedicated fiber connection. The cost can go even higher if you have to arrange for a line to be laid to your premises before a connection can be made. And of course, internet providers aren’t immune to technical difficulties.

These can be annoying when using the internet for personal use. In terms of business use, you may be faced with expensive downtime directly resulting in revenue lost. A coworking space solves this problem by including shared internet access with enough bandwidth for your needs. And even if it does go down, you can always inform the relevant people to get it fixed instead of doing it yourself.  

Offers a More Presentable Space 

It’s not all about business essentials with coworking spaces. You may be able to afford many of the above yourself. But if you’re dealing with high-value customers, whether B2B or B2C, you understand how much appearances matter and that you need to project confidence and success to inspire the same. You may have enough funds set aside for a bare-bones workspace, but in most cases, startups don’t have interior décor or redesign at the top of their priority list.

However, that doesn’t mean you need to treat your best customers or their reps to blank, unfinished walls and well-worn carpets or chairs. Not when a coworking space already has the aesthetic appeal you want, along with dedicated spaces to entertain even unexpected visits from customers.