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Q:

Is flexible space different from coworking?

A:

While the terms “flexible space” and “coworking” are often interchanged, there are differences in the setup, the vibe, and the way people work in these spaces. From the time coworking spaces started to catch on, after the 2007-2009 economic downturn, a certain electric energy coursed through coworking spaces, that sparked a sense of community, the collaborative spirit and a social networking aspect that appealed to many young entrepreneurs, tech startups, and other small companies looking to launch their innovative ventures. Many large tech companies, such as Instagram and Spotify, started in coworking spaces before they moved on to open their corporate headquarters. However, coworking spaces began to evolve as some small and medium companies grew into larger, established brands. Many companies that started in coworking spaces remained as they grew due to the flexibility of these spaces, the savings over operating their own offices, and the turnkey office concept. As businesses in coworking spaces grew, many moved into private office spaces or a hybrid of shared desk spaces and private office spaces. A professional atmosphere developed in these flexible, shared spaces where the community consisted of like-minded individuals and established small and medium businesses. The phrase, “flexible, shared office space” grew out of a need for upscale office spaces to distance themselves from the stigma associated with the general hipster party atmosphere that some coworking spaces modeled. When the COVID-19 pandemic changed the way everyone conducts business, Venture X locations continued to offer semi-private and private office spaces, in addition to more distanced spaces with room to grow and fewer direct interactions between members than the post-recession, pre-pandemic theory that promoted the idea of more people utilizing the same real estate.