Coworking has been the buzzword of the past decade. We have reached a staggering number of 26 thousand coworking spaces worldwide, with over 2.6 million people actively using their services. So why are coworking offices so popular, and what is it that makes them special?
We conducted research with members of 5 coworking spaces in London to find out about the tangible benefits of coworking. The findings of our interviews are summarised below in 5 short conclusions.
1. Coworking spaces as site for entrepreneurship, innovation and knowledge exchange
It can be commonly confirmed that coworking fosters innovation, as spending time in a dynamic coworking space can eventually spark new ideas. Physical proximity between startups creates knowledge spill overs, whereas entrepreneurs can exchange ideas about products and processes within different industries, finding new innovative solutions to customer problems. The more time you spend interacting with the community, the higher chances you have to come up with something new!
2. Coworking designed with ideas of collaboration and creativity in mind
Unlike traditional office spaces, coworking eliminates the feeling of competition or internal politics that might exist between employees; on the contrary, coworking encourages collaboration between its members. Entrepreneurs have diverse skillsets and are motivated to help other community members to succeed in the atmosphere of mutual support and encouragement.
3. Coworking as an ecosystem of resources
Apart from professional facilities, startups get access to a crucial resource – business connections. There exists a plethora of networking opportunities, from coffee shop encounters to community events, where entrepreneurs can build valuable business relationships. Startups get a chance to find new clients, secure investment, source talent and B2B partners, all through leveraging the coworking network.
4. Coworking as a sign of corporate prestige
Glass windows, modern interiors, private offices and conference rooms, trendy café in the lobby. Coworking spaces are often a tool for startups to gain more credibility when it comes to selling to clients, pitching to investors or simply conducting business meetings. Not only can it give you a shiny prestigious address on the business card, it can also help to professionalize within your team and elevate the team spirit.
5. Coworking as a motivational tool
While working at home can feel lonely and isolated, and working in a café is full of distractions, coworking occupies a perfect place in the middle. Being surrounded on a daily basis by people who are passionate about and on focused on their work serves as a great motivation. You also get access to professional amenities, such as conference rooms and call booths, which drives the productivity up.
Last but not least, coworking spaces offer a variety of educational and networking events. That is why Startup Club is proud to partner with with coworking spaces around the world, creating a series of enriching events for startups and entrepreneurs.
Article By Startup Club CEO Olga Kuznietsova