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The benefits of co-working spaces for entrepreneurs

Entrepreneurs and fledgling businesses are often born out of bedrooms and living rooms but nowadays professionals have other options available that can change the way they work.

Co-working has become an increasingly popular solution for independent workers, bringing them together to share space and high-quality resources. It is an opportunity to provide inspiration for start-ups, social enterprises and corporations alike.

Liz Elam, founder of Link Coworking in Austin, in the United States, said: "The number one reason a new business should join a co-working space is for the community support.

"Opening your own business is scary. It is a huge risk personally and professionally. Coworking members will support you. They will let you bounce your ideas, give you honest feedback and cheer you on when you have a success."

Tap into the talent pool

Certainly the networking opportunities of any co-working space are one of the most significant benefits for entrepreneurs. Professionals can tap into a vastly talented pool of like-minded, hard-working individuals that can support what they are doing, potentially adding a new dimension to a product, service or initiative.

In the infancy of any business idea it is understandable for entrepreneurs to be budget-conscious. As a result co-working spaces are a great place to setup a business. For the cost of a small membership fee professionals have access to managed office space with amenities such as printing, Wi-Fi, whiteboards and meeting and conference rooms.

Good for organic growth

Not only does co-working space give entrepreneurs the exposure and support they need to grow, they have the freedom and flexibility to grow at their own pace. With no long term lease agreements, co-working memberships are ideal for those trying to reach a sustainable operational level.

Although entrepreneurs may be the sole entities of their business it is possible for professionals to choose from a variety of co-working communities. Co-working spaces are developing for just about every niche at present, so it is a good idea to find a community and reap the benefits of being surrounded by people who are in the same line of work.

A different mentality for SMEs

Co-working is also helping to change the mentality of business start-ups. No longer do entrepreneurs suffer from tunnel vision in terms of finding an investor for funding. There is a shift with start-ups now increasingly focused on growing a company culture and developing ideas that will attract attention and investment organically.

Interested in trying out co-working space for yourself? Why not book a guest pass with Club Workspace today. With ideal co-working swing space between offices, overflow and projects, or as that initial step away from working at home, Club Workspace members are part of a growing network of over 4,000 start-ups and established SMEs.

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Reader Comments (1)

I could not agree more with the notion that co working spaces are extremely useful especially when you start your business. I am glad that i was introduced to the idea by a friend in London. She encouraged me to find a good co working group nearby and join it. The search was hard because some groups were really unfriendly and others wanted a particular type of business to join them. However, after about two months i found a group and i have been with them ever since. We have accumulated a lot of knowledge and contacts of each other. I think the single biggest help when working as part of a coworker group is the support which you get when you are down and out. I remember that twice my business came close to extinction and had it not been the support and encouragement i received form the group, i would have been in a dead end job today. So i cannot stress the importance enough. Read this article. It is very true and accurate.

July 27, 2012 | Unregistered CommenterAbby Butler

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