December 31, 2019
By Samantha Goodman
Office spaces in a downtown location can cost as much as close to $1,000 a month or more, in addition to your utilities, costs to furnish the place, and paying building staff. As the prices of rent continue to increase, it makes it more difficult to manage an office budget, especially for a small business. Coworking, a cost-reducing, friendly alternative way to work, is on the rise for small businesses, remote workers, and freelancers.
Coworking spaces are an arrangement for workers from various industries and companies to share an office space while still escaping their homes or coffee shops that can be distracting. Typically, a common space is provided, along with desks, kitchens, and meeting or board rooms. Sharing the space with other workers allows you to free yourself of the worries of expenses such as electricity, water, internet, security, insurance, along with furniture, decorations, and staff, such as custodial staff and managers. As long as you pay your rent each month for your desired membership level, all you have to do is come to the office, worry-free.
Small businesses that employ a small number of employees and need to host clients may be wary about bringing in a client to an office space that isn’t theirs. Many coworking spaces have meeting rooms or board rooms for members to rent out for team meetings, conference calls, or client meetings. Conference rooms are critical elements of office spaces, not just for internal meetings but for presentations and meetings with clients and potential customers. Having a desired space, that is better yet cleaned and maintained by someone else, can allow you to simply book the room and be worry-free.
As an employee of a self-owned business, or small business, you understand the value of networking. Shaking the right hands can often lead to big breaks for you and your company that allow you to broaden your network quickly. Coworking spaces are a catalyst for new ideas, as networking happens every day. According to Foertsch (2018), coworking members interact with an average of one to four members per day. Someone is always near you to bounce an idea off of or to ask for feedback on, and they’re willing to help because they are in the same position as you. Research shows that 79 percent of coworking users have expanded their social networks as a result of joining a flexible workspace (Steve, 2018). At Mill Race, we host at least three events a month to encourage networking and allow our members to meet new people in similar professions, a benefit you cannot receive while working from home or in an individual office space.
As the new year approaches and you are configuring your budget for the upcoming months, consider working at a coworking space to decrease your costs and worries and increase your networking and happiness. It’s a win-win.
Contact us at firstname.lastname@example.org to schedule a tour or a free day in the space.
See more at millraceco.com