Coworking or Shared Spaces: Which Workspace Is Better for Your Business?
Choosing the appropriate workspace for your business can be a big decision. First, you need to ensure your choice is conducive to your goals. You also want to consider how your company operates and the type of culture you want to cultivate.
Coworking spaces and shared spaces are among the popular options in the never-ending quest to find a perfect working atmosphere. But how do you know the best fit for your company? The answer lies in your specific goals, needs, and preferences.
What Is Coworking?
Coworking is an arrangement where professionals share office space and work together without necessarily sharing a common employer. In most cases, coworkers are freelancers, independent contractors, small-business owners, and solopreneurs looking to gain professional exposure and connections. Due to a shortage of affordable workspaces in most cities, more and more people are looking at coworking as an alternative to renting traditional office spaces on their own.
What Are Shared Spaces?
A shared space is an office arrangement shared by well-established businesses. Such a shared office gives you a professional work setting with modern amenities that meet your clients' needs. You'll have access to all sorts of resources, from meeting and conference rooms to printing and reception services.
Which Workspace Is Best for Your Business?
It's always a good idea to research multiple options before making a major decision like setting up a new workspace. While each option may have its own set of benefits, there's no one-size-fits-all solution. Here are some things to consider:
The Target Audience
Coworking space is geared towards freelancers and startups who want to be surrounded by like-minded individuals. It's also great for remote workers that need office space but don't have one available in their area.
On the other hand, shared space tends to attract established companies or businesses with multiple employees. This type of environment is good for teams that require privacy with their clients and lots of desk space.
The Community
A coworking space offers more of a community spirit than you can find in a shared workspace. You will often interact with people outside your field on projects or through fun events. On the contrary, a shared workspace may have fewer opportunities for collaboration among different professionals with varied needs.
The Lease Period
If you are looking for more flexible office space in terms of payment, consider coworking spaces. Here, you will be allowed to pay for desks daily or rent them over a long period at a reduced rate. This may not be possible for shared office spaces, where you can only lease a suite for a period of 12 months.
Amenities
One of the main differences between coworking spaces and shared workspaces is that, in a shared workspace, you usually have access to all or most of its amenities. These include a wide range of office equipment and reception services. In a coworking space, however, you only get access to basic amenities such as Wi-Fi connectivity, printing services, free tea or coffee, and conference rooms.
Location
While coworking spaces are mostly located within a particular neighborhood, shared workspaces are found wherever there's enough demand. You could be sharing an office with people who live across town or halfway around the country.
Learn More from the Experts
When you're running a business, it can be tough to find affordable office space. Sometimes landlords are especially hard to negotiate with. This is why coworking spaces exist. At Headquarters, we offer flexible workspace solutions for entrepreneurs and small businesses of all kinds. Our coworking spaces have private office areas and are unique. They check both coworking and shared space boxes. Schedule a tour today to find the perfect alternative to your traditional office space.