Why co-working spaces are the next big trend

In the early stages of starting up, where you work can be every bit as important as what you are working on.

We have all heard about the million pound ‘wonder business’ created overnight on a bag of crisps, a coffee and a laptop, but working from home or in cafes isn’t right for everyone and may not provide the best chance of success for your business. The last few years have seen 900+ co-­working spaces open in London alone, showing that this latest craze in workspace is here to stay.

So why are co­-working spaces so popular? Launch22, a co­-working space based in London and Liverpool, give their top 10 reasons why you should ditch the bedroom office and check out the co-working space environment.

1. A base for your business

A regular place to work can be key in helping you stay on track by providing a secure base for your business rather than the constant moving around that can come from remote working. This is especially important when going through the turbulence of starting up.

2. Networking

Co­-working spaces are great ecosystems for start ups where you become part of a community of passionate, like­minded people. You could meet potential partners, product testers and much more without leaving the comfort of your office space. Co-­working spaces are great hubs to attract investors and accelerators looking for new, exciting businesses which can stand you in good stead when looking for growth finance.

3. Events

Workspaces usually offer a wide variety of events ranging from workshops to talks with successful entrepreneurs and experts. These can offer great support and inspiration especially if you are at the early stage of development or looking to build your network.

4. Motivation

Starting a business is tough and keeping yourself motivated when things aren’t going your way is never easy. In a workspace, having a community of people going through similar experiences can be a great help and motivator even in the most challenging of times.

5. Free stuff!

Look out for co­-working spaces that offer great facilities – printing, fast WiFi and lockers to store your work and make life easier. Some will also have kitchen and shower facilities to make working life a bit easier.

6. Mentoring

One of the biggest clinchers for new members is mentoring, where entrepreneurs with experience or specific skills give up their time to advise and help your startup. This is a huge benefit if you are in the early stages and also provides useful future working relationships.

7. Storage

A fixed desk space allows you to store monitors, documents and anything else you may need for work. No more trudging heavy backpacks to and from coffee shops every day!

8. Brand promotion

A workspace is the perfect place to gain customers and promote your business. From advertising in newsletters to posts on social media, there are plenty of ways a workspace can help provide your business with exposure online and offline.

9. Business location

Many co­-working spaces are located around or within Business Centres. This allows for an efficient commute and ease in attending meetings throughout your city. Your office can also be your meeting place, with meeting rooms also included in most workspaces.

10. It’s fun!

Making good friends is a great aspect of the co-working space community, whether it be with other members, mentors or staff. Nothing says workspace like a get together to wind down after a hard week of work with other members. Co-­working spaces are a genuinely fun place to be in. Was there table tennis at your old office?

Most importantly, co­-working will help your business grow. If these points align with your business goals then you should seriously consider investing in membership at a workspace.

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Reference to any organisation, business and event on this page does not constitute an endorsement or recommendation from the British Business Bank or the UK Government. Whilst we make reasonable efforts to keep the information on this page up to date, we do not guarantee or warrant (implied or otherwise) that it is current, accurate or complete. The information is intended for general information purposes only and does not take into account your personal situation, nor does it constitute legal, financial, tax or other professional advice. You should always consider whether the information is applicable to your particular circumstances and, where appropriate, seek professional or specialist advice or support.

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