Launching a new business is an exciting endeavour, but it can also be extremely challenging, especially when it comes to finding your premises. The location needs to be readily available to your staff and clients, assist in being a productive workspace for your team, and have all the necessary facilities and flexible arrangements to cater to modern employees expecting more from where they work.
To find all of this in a clean, cost-effective solution, many entrepreneurs are now turning to coworking spaces. These spaces often result in a faster launch, the ability to work in a more centralised location, and have greater exposure to sustainable business growth. Here are three benefits new start-ups can find by opting for coworking & flexible workspaces.
The first few weeks, months and even years of a new business always contain an element of financial strain. Regardless of whether you are self-funded or have raised capital, finding innovative ways to reduce your operating expenses can go a long way to getting more return on your investments. Coworking spaces and serviced offices offer new businesses a fully equipped workplace environment at the fraction of the cost of a dedicated office. Furthermore, the costs are usually presented in an all-inclusive, periodic price, affording you the ability to have more stable financial forecasting. This includes a range of facilities and equipment, too, such as high-speed internet, desks and office furniture, heating, lighting and water, all without the ongoing maintenance and rates fees.
A growing business has constantly evolving operational needs. Cementing your staff into rigid working environments and schedules can inhibit this, which is why coworking spaces can be so crucial. You can place your business amongst prime real estate, easily accessible by your staff and clients, but you can also access the facilities you will need, when you need them. Starting small with a few desks, for example, before you naturally grow to consume larger sections, and then book meeting rooms and event spaces, and so on. With flexible seating arrangements, your team can also come and go as required, receiving great work-life balance, and saving funds when the space isn’t needed to be rented.
While there is plenty to be saved from coworking spaces, there is also the potential for a great deal to be earned. A new business needs to make connections, after all, and coworking spaces make that easier than ever by placing you alongside likeminded people. For example, your organisation could be sharing the same space as clients desperately in need of your services, or better yet, you could be looking to expand your offerings, and find synergistic partnership opportunities that both streamline your operations and bolsters your earning potential. Add in the possibility of referrals and wider publicity through other’s networks, and you’ll be surprised at how fast your business can take off!