Starting a business is a big decision and no matter how motivated or experienced you are it can be a daunting prospect. There are so many different things that you need to manage from customer management to accounting, marketing, hiring staff and finding office space, the list goes on and on. However, as an entrepreneur, you need to find a way to bring all of these elements together so that your business can function efficiently and that you stay within budget.
In the major UK business hubs, office space is becoming increasingly expensive and as a result, many entrepreneurs are looking to more affordable and more flexible solutions. Over the last number of years, the number of coworking spaces has grown quickly to accommodate this demand. You might immediately be wondering “is there a coworking space near me?” and the answer is that there probably is. However, it’s important to remember that not all coworking spaces are created equally and it’s important to look into what each provider offers before you choose a space for your business.
Continue reading to learn why more UK entrepreneurs are utilising coworking spaces for their business needs.
Corporate offices can be stuffy and can stifle creativity and productivity. Coworking spaces provide a less formal and more relaxed environment that allows you to be more productive in your work. Surrounded by like-minded, highly motivated individuals who are also there to work hard and grow their businesses, you can feed off the positive energy in the space and be more productive than you ever thought possible. You will also have access to all the amenities you need like high-speed internet, a comfortable desk, printing capabilities from any desk and free tea and coffee so that you can be as efficient as possible in the space.
Traditional office space in prime locations in the UK’s major business hubs comes at a price. It can be difficult for entrepreneurs and startups with limited funds to afford the high price tags of these office spaces. However, with a coworking space from a premium provider, you will be able to locate your business in a prime office location at a fraction of the cost. What’s more, you won’t have to pay any additional costs to fit out an office space, pay utility bills or install the technology you need to run your business. With a coworking space, all of this is set up for you allowing you to get on with your work.
Opportunity To Network
One of the major benefits of coworking spaces is the opportunity to work alongside other professionals form a diverse range of backgrounds and Industries. With different people coming and going form the space every day, you have the opportunity to meet new people and develop new business relationships that can help your business going forward. Reaching out and connecting with more people will help you to move your business in the right direction as you settle into the space.
In the modern business landscape, it’s crucial that you remain flexible and adaptable in how you run your business. For entrepreneurs, this is especially important, as, even with extensive market research, you can never be 100& sure as to how your business will do in the real world. If your business is a success and you need to hire more staff, they can simply join you in the coworking space. On the other hand, if your business does not perform as you expected, you are not tied into a long-term lease and can simply leave the space at the end of the month. For entrepreneurs and startups, this level of flexibility allows you to go about your business without the weight of a long-term lock-in contract on your shoulders.
Coworking Can Help Your Business To Thrive
For entrepreneurs starting a new business, coworking spaces offer many advantages. With their social environment, you have the opportunity to connect with other like-minded professionals and develop relationships that can help your business going forward. You can save a lot of money compared with a traditional office space which gives you access to more disposable capital to invest in critical areas of your business. Choosing to operate your business from a coworking space can, ultimately, allow you to be more productive and set your business up for success.