Co-Working Office Spaces: An Introduction

Off-late you may have increasingly come across the usage of the word “co-working office spaces”.  This is especially true when discussions are related to start-ups.  Since this term is new many people get confused about this types of working spaces.  There have been many situations, when people have gone to a co-working space and thought everyone who works there belongs to a single company.

Without adding to the confusion let us look into what is co-working.  A co-working space is a commercial area that caters to the needs of many different businesses in a single building. In addition to providing space for each of the different businesses they also offer shared infrastructure like meeting rooms, cafeteria, server / networking rooms and storage spaces. This is an emerging type of work, that comes with a shared environment for working. A co-working space is different from an office environment, as the people working here are not deployed by the same company. Independent contractors, professionals who work from home or individuals travelling frequently often use co-working spaces.

Some of the common features of these spaces include:

  • Flexible plans for use, according to week, month, year, etc.
  • Turnkey commercial space that is fully serviced and staffed
  • Opportunity to socialize and work with similar-minded people

Most of the co-working spaces come with amenities such as gym, bike parking, snacks and coffee. Evidently, co-working spaces can be defied as shared workplaces, offering affordable office spaces. Particularly, entrepreneurs looking forward to escape the isolation of a coffee shop or home office prefer co-working spaces.

Types of co-working spaces

Co-working spaces are broadly of three types – co-op offices, incubator offices and accelerator offices. Further there are types of co-working spaces called private offices and managed offices. However, among all the options the co-op offices remain the most common and familiar type of co-working spaces

Co-op offices

This is an informal type of co-working space. Any person or business firm ready to pay the rental amount can get these spaces. The collaboration and community-style work are the key aspects of co-op offices. Important features of co-op offices include accessibility, openness, community, collaboration, and sustainability

People looking for better networking opportunities should go for co-op offices. When you operate your business from these spaces, you can enjoy networking with an extensive range of professionals and companies.

What are the advantages of co-working spaces?

Co-working spaces come with several advantages. The overhead equipment requirement is reduced to a significant extent for business firms. The resources get shared among several companies. Besides, if you own a small business, you can avoid leases on long-term basis. This will help you expand your business rapidly. For networking, co-working is a great option, provided the entrepreneurs, mentors, investors and professionals are like-minded.

Co-working spaces have been gaining popularity, particularly among entrepreneurs and freelancers. They can get the much-needed social support and meet new people, who find themselves in the same situation. The social events organized here are targeted for the business owners. This removes the isolated feeling and helps in expanding the business.

Depending on your requirements, the nature and stage of your business, you should choose the right type of co-working space.