News

June 10, 2019

Coworking Isn’t Just About Real Estate Rental Benefits

Shared office spaces have come a long way since Brad Neuberg coined the term “coworking” in 2005 for his San Francisco establishment. He invited the community to run with the idea, and they did just that. The movement that centered around sharing cheap office space in an open, community setting is redefining the way we work. As an alternative to the expense of moving into your own office space, shared office spaces became a huge hit for startups, entrepreneurs, and small businesses. Soon, large companies took notice of increased productivity, creativity on the rise and the overall sense of work-life balance that coworking spaces offer. As coworking spaces continue to open throughout the globe, take a look at some of the synergistic effects of shared office spaces.

Community connections

As shared office spaces have evolved, small- and medium-sized companies are finding that the diverse array of businesses in their coworking spaces helps them to set down roots in the community. Working alongside other members who can mutually benefit from connecting with the local business community sets the wheels of growth in motion.

Large companies are getting in on the local scene by enticing talent to work in their localized shared office spaces. With a tight job market, employing talent from other regional markets opens up many avenues for large corporations. Remote workers like the structured environment of shared office spaces with the community aspect as well as enjoying the same amenities as a corporate headquarters might have.

Collaboration and partnerships

The open exchange of ideas and creativity in shared office space environments is by nature an integral element of the coworking experience. Traditional office spaces can’t really offer the opportunity for an open exchange of ideas to their employees. So, in order to breathe energy, motivation, and productivity into corporate office scenarios, large companies are moving some of their design, marketing, and other teams to shared office spaces. Some large companies rent coworking spaces for a “day away” for employees that act to generate and refresh ideas through interacting with members outside of corporate environments.

Small businesses, startups, and freelancers also benefit from the presence of large companies in the coworking scheme of things. A trend in incubating businesses and partnering with large companies is working to help grow small businesses. Onsite events allow for networking and professional growth opportunities for those entrepreneurs and smaller businesses.

Networking events

Another added perk of the shared office space community focuses on the educational and business-themed events that strengthen community bonds in coworking spaces. From large corporations and SMEs to individuals, the floor is yours to share insights, to launch a product, initiative or campaign, and to build strong business relationships with other members. Sponsored events act as a platform for exchanging ideas and ultimately collaborating in new business ventures. Members also enjoy discounts at area restaurants and other local businesses. In addition to meeting members of large companies at networking events, many growing businesses choose the flexibility of shared office spaces to make their next move less stressful.

Expanding in place

For companies ready to move to the next phase of expansion, the flexibility of coworking spaces allows businesses to concentrate on their core initiatives, instead of investing their time and expenses into lengthy commercial space leases, as well as the complicated setup, outfitting, and maintenance of independent offices. This turnkey solution works for corporations, also, as they don’t have to waste time and money procuring regional offices when they join coworking spaces to meet the needs of their remote workers.

With flexible, monthly agreements, businesses can add more desks in addition to renting dedicated spaces and private offices easily, as their needs change. For the hiring or orientation process, a business may need conference room space for a day or a week or more. Coworking spaces rent conference rooms that are presentation savvy, with high-speed Internet and all of the audio and visual technology you require for meetings. Additionally, shared office spaces are equipped with business class printers, scanners, and copiers to streamline your preparation for meetings. 

Not just rent but all other expenses

Large companies moving into new markets can test the waters in coworking spaces without needing to buy or build spaces, initially. In order to facilitate new developments, large companies can set up temporary headquarters in shared office spaces and get to work immediately. At some point, when it makes sense to move, large companies may leave the coworking space environment to set up shop on their own.

However, some large companies are saying, “Hang on a minute,” when they realize that leaving their coworking communities involves losing much more than they stand to gain by isolating their businesses. The ready-to-roll membership benefits coworking spaces offer are one thing, but what about the vibe, the collaborative climate, and other intangibles that make coworking spaces so popular? Large companies seem to be creating a hybrid for their futures. These large companies are striving for the best of both worlds - Expanding their own brand footprints fostered by the energizing effect of working around other business professionals as well as the motivating, open exchange of ideas and the sense of belonging to a larger community. 

A new development in shared office spaces sees large companies opting for enterprise-level memberships. In some of these ventures, a company can occupy an entire floor of a building or take over an entire building while inviting other businesses to share office space in the same building. This strategy benefits small- and medium-sized businesses looking to grow their brands.

At Venture X, we offer shared office spaces in upscale, contemporary settings. With well-appointed spaces, Herman Miller furnishings, and SitOnIt chairs, our spaces create versatile spaces to work, relax, and grow your company. As you can see, the benefits of a coworking space go way beyond any real estate benefits imaginable.

Contact Venture X to schedule a tour!