Blog post

How Coworking Spaces Help Businesses Thrive

By Omar Mohamed -
19th September 2022

Want to take your business to new grounds? Small, medium, or large businesses can greatly benefit from utilizing a coworking space. Learn more.

How Coworking Spaces Help Businesses Thrive

By 2030, the flexible workspace market is expected to represent 30% of U.S. office stock—an unprecedented shift in workplace demand.

Coworking spaces have become a popular option for new businesses in recent years. How come? Well, for new businesses, the number one thing you need is space. Working from home can be great for some people, but not businesses, because of the lack of face-to-face interaction and networking opportunities.

It might come as a surprise since we usually think of the following groups as ideal candidates for coworking spaces:

- Entrepreneurs,

- Freelancers,

- Remote workers,

- Startups.

However, a coworking space is perfect for a small business owner. Even long-established businesses can benefit from coworking spaces if it suits the business’ sector and nature. The benefits of coworking spaces for businesses are immense. Read on to find out how coworking spaces can help businesses thrive.

Big indoors coworking space

                                                                                                                                      From Flikr

Ways Small Businesses Benefit from a Coworking Space

Setting up in a coworking space is an excellent alternative to working from home. Although working remotely from home is nice, it can limit our potential growth and networking capabilities. Working from home may work for a short period, but it's not always the best option for businesses, especially for maintaining a solid work-life balance. 

Shared working spaces allow you to meet new people, learn from their experiences, and access a wide range of resources to help your business grow. Coworking spaces' benefits are numerous, such as

- An office setting shared by multiple entrepreneurs.

- Allowing businesses to connect and learn from their mistakes while sharing resources and knowledge.

- A physical location where new customers can see your company in action and potentially book a consultation or meeting with your employees.

- Coworking space is typically cheaper than renting an office from a traditional landlord, which can benefit new businesses just starting.

- Amenities (like WiFi) you would find in an office setting are usually available at a coworking space for free or at a discounted rate.

How Are Coworking Spaces Ideal for Entrepreneurs?

If you’ve started your own business or plan to, you’re an entrepreneur. And, of course, entrepreneurs are known to blossom in a solid coworking space. There are a few reasons why communal workspaces are ideal for entrepreneurs. 

Besides how coworking spaces are cost-effective and diverse, a big reason is that they provide an environment where multiple businesses can collaborate and learn from each other. Shared resources and knowledge help companies connect with potential customers while reducing the risk of making mistakes.

Overall, coworking spaces provide many benefits for entrepreneurs regarding their careers, cost, and opportunity.

People working together in an indoor coworking space

                                                                                                                                    From Flikr

What problems do coworking spaces solve?

In addition to providing benefits for entrepreneurs, coworking facilities can help solve many issues businesses face. 

One primary problem is cost. Coworking spaces offer affordable office space close to clients and customers, which can be helpful if a business is just starting or it's difficult to find traditional office space.

Another is creative blocks. As previously mentioned, sitting in a restricted office setting can be draining. Coworking spaces are designed to inspire creativity. They also work for people who work in different ways. Not everyone can sit by a desk for a set number of hours a day; some people need a beanbag, or a lovely outdoor space, among others.

The final issue is networking. Networking can prove to be a bit tough when you’re a small business just starting out. A coworking space is the perfect place to network, as you’re around other like-minded, goal oriented people that you can bounce ideas off and collaborate with.

Top Coworking Benefits: Helping Workers and Businesses

- Coworking spaces often provide affordable office space, computer resources, and networking opportunities. In addition, they can help new businesses feel more like a startup by providing access to shared resources and knowledge.

- Many coworking spaces have libraries with resources available at no cost or fees.

- Networking with like-minded professionals and industry people. 

- Fun zones for laughter, hangouts and quick munching.

- And more!

Coworking Benefits for Businesses

Coworking spaces can provide several benefits for businesses regarding their careers, cost, and opportunity. For entrepreneurs, community office spaces can offer affordable office space close to clients and customers.

They often have libraries full of resources available at no cost or fees - this is especially helpful for small businesses who may not have the budget to purchase their equipment or software licenses right away.

Personal Benefits of Coworking

For many people, coworking spaces provide a sense of community and support. They can offer opportunities to meet new people and learn from their peers. Coworking spaces often have monthly events that the members organize.

People like coworking spaces because they provide more opportunities for in-person connections. For one thing, you are almost always near other people, meaning less time spent at home, working alone. Moreover, many coworking spaces host events and have open community hours to start getting to know the people working in the space with you. 

Through an event, you can meet and create your group of coworking friends (not like direct coworkers) to help support and provide a certain level of accountability. It’s always great to help others around you keep their goals on track and ensure they’re meeting deadlines, and vice versa.

Woman in white and black stripped sleeve coat talking in front of people

                                                                                                                              Photo by Tima Miroshnichenko

Why Do People Thrive in Coworking Spaces?

For starters, these environments often foster creativity and innovation - because employees work together in a shared space, they're more likely to come up with new ideas. Additionally, coworking spaces allow entrepreneurs to test their products or services before launching them into the market - this helps eliminate any potential roadblocks that may come up during development.

Two people sitting and discussing a document over coffee while two others chat by a whiteboard
Photo by Yan Krukov

Conclusion

Some benefits of coworking spaces for businesses include easier focus and increased productivity. Additionally, people can work in various areas in a coworking space, from a spot that encourages deep focus to a social and open space. They can also see the projects other companies are working on, helping inspire and encourage a collaborative environment and earlier interaction between companies, leading to quicker solutions for their problems. It also helps because there is much more energy in most open-concept offices than when people work within tight spaces without options for movement throughout the day.

If you’re looking for your small business’s dream spot, explore the best coworking spaces in Dubai on the Letswork today.

Member Spotlight

How Coworking Spaces Help Businesses Thrive

By Thomas Mathews-
19th September 2022

Name:

Thomas Mathews

Role:

Global Marketing Manager

Fav location:

Wrkbay

How Coworking Spaces Help Businesses Thrive

By 2030, the flexible workspace market is expected to represent 30% of U.S. office stock—an unprecedented shift in workplace demand.

Coworking spaces have become a popular option for new businesses in recent years. How come? Well, for new businesses, the number one thing you need is space. Working from home can be great for some people, but not businesses, because of the lack of face-to-face interaction and networking opportunities.

It might come as a surprise since we usually think of the following groups as ideal candidates for coworking spaces:

- Entrepreneurs,

- Freelancers,

- Remote workers,

- Startups.

However, a coworking space is perfect for a small business owner. Even long-established businesses can benefit from coworking spaces if it suits the business’ sector and nature. The benefits of coworking spaces for businesses are immense. Read on to find out how coworking spaces can help businesses thrive.

Big indoors coworking space

                                                                                                                                      From Flikr

Ways Small Businesses Benefit from a Coworking Space

Setting up in a coworking space is an excellent alternative to working from home. Although working remotely from home is nice, it can limit our potential growth and networking capabilities. Working from home may work for a short period, but it's not always the best option for businesses, especially for maintaining a solid work-life balance. 

Shared working spaces allow you to meet new people, learn from their experiences, and access a wide range of resources to help your business grow. Coworking spaces' benefits are numerous, such as

- An office setting shared by multiple entrepreneurs.

- Allowing businesses to connect and learn from their mistakes while sharing resources and knowledge.

- A physical location where new customers can see your company in action and potentially book a consultation or meeting with your employees.

- Coworking space is typically cheaper than renting an office from a traditional landlord, which can benefit new businesses just starting.

- Amenities (like WiFi) you would find in an office setting are usually available at a coworking space for free or at a discounted rate.

How Are Coworking Spaces Ideal for Entrepreneurs?

If you’ve started your own business or plan to, you’re an entrepreneur. And, of course, entrepreneurs are known to blossom in a solid coworking space. There are a few reasons why communal workspaces are ideal for entrepreneurs. 

Besides how coworking spaces are cost-effective and diverse, a big reason is that they provide an environment where multiple businesses can collaborate and learn from each other. Shared resources and knowledge help companies connect with potential customers while reducing the risk of making mistakes.

Overall, coworking spaces provide many benefits for entrepreneurs regarding their careers, cost, and opportunity.

People working together in an indoor coworking space

                                                                                                                                    From Flikr

What problems do coworking spaces solve?

In addition to providing benefits for entrepreneurs, coworking facilities can help solve many issues businesses face. 

One primary problem is cost. Coworking spaces offer affordable office space close to clients and customers, which can be helpful if a business is just starting or it's difficult to find traditional office space.

Another is creative blocks. As previously mentioned, sitting in a restricted office setting can be draining. Coworking spaces are designed to inspire creativity. They also work for people who work in different ways. Not everyone can sit by a desk for a set number of hours a day; some people need a beanbag, or a lovely outdoor space, among others.

The final issue is networking. Networking can prove to be a bit tough when you’re a small business just starting out. A coworking space is the perfect place to network, as you’re around other like-minded, goal oriented people that you can bounce ideas off and collaborate with.

Top Coworking Benefits: Helping Workers and Businesses

- Coworking spaces often provide affordable office space, computer resources, and networking opportunities. In addition, they can help new businesses feel more like a startup by providing access to shared resources and knowledge.

- Many coworking spaces have libraries with resources available at no cost or fees.

- Networking with like-minded professionals and industry people. 

- Fun zones for laughter, hangouts and quick munching.

- And more!

Coworking Benefits for Businesses

Coworking spaces can provide several benefits for businesses regarding their careers, cost, and opportunity. For entrepreneurs, community office spaces can offer affordable office space close to clients and customers.

They often have libraries full of resources available at no cost or fees - this is especially helpful for small businesses who may not have the budget to purchase their equipment or software licenses right away.

Personal Benefits of Coworking

For many people, coworking spaces provide a sense of community and support. They can offer opportunities to meet new people and learn from their peers. Coworking spaces often have monthly events that the members organize.

People like coworking spaces because they provide more opportunities for in-person connections. For one thing, you are almost always near other people, meaning less time spent at home, working alone. Moreover, many coworking spaces host events and have open community hours to start getting to know the people working in the space with you. 

Through an event, you can meet and create your group of coworking friends (not like direct coworkers) to help support and provide a certain level of accountability. It’s always great to help others around you keep their goals on track and ensure they’re meeting deadlines, and vice versa.

Woman in white and black stripped sleeve coat talking in front of people

                                                                                                                              Photo by Tima Miroshnichenko

Why Do People Thrive in Coworking Spaces?

For starters, these environments often foster creativity and innovation - because employees work together in a shared space, they're more likely to come up with new ideas. Additionally, coworking spaces allow entrepreneurs to test their products or services before launching them into the market - this helps eliminate any potential roadblocks that may come up during development.

Two people sitting and discussing a document over coffee while two others chat by a whiteboard
Photo by Yan Krukov

Conclusion

Some benefits of coworking spaces for businesses include easier focus and increased productivity. Additionally, people can work in various areas in a coworking space, from a spot that encourages deep focus to a social and open space. They can also see the projects other companies are working on, helping inspire and encourage a collaborative environment and earlier interaction between companies, leading to quicker solutions for their problems. It also helps because there is much more energy in most open-concept offices than when people work within tight spaces without options for movement throughout the day.

If you’re looking for your small business’s dream spot, explore the best coworking spaces in Dubai on the Letswork today.