The growing number of entrepreneurs, freelancers and remote workers is changing the traditional workspace. Coworking ecosystems offer a new way of working and sharing office space for these types of professionals that meets their personal and business needs.
Prior to the pandemic, coworking spaces were the fastest-growing type of office space in commercial real estate. By 2030, they are expected to make up 30% of the market. Why is coworking space gaining so much popularity?
What is Coworking?
Coworking office spaces are membership-based workspaces where diverse groups of freelancers, remote workers and other independent professionals work in a shared, communal setting. Today, more and more corporate organizations are also taking advantage of the benefits of flexible coworking offices. Coworking space is designed to provide a productive and collaborative working environment for professionals from a range of companies, projects and ventures.
Why Do People Love Coworking?
Community
A big reason many professionals pay to work in a coworking office is to feel a part of a community with familiar faces. Members are not forced to socialize with others, but potential interactions are within reach if they feel the need or desire to engage with others. Coworking space also gives members plenty of opportunities to network and build professional relationships with workers of differing skill sets.
Value
A survey by Harvard Business Review found that people who use coworking spaces see their work as meaningful. The people surveyed reported that they found meaning in a supportive and encouraging work culture that eliminates competition or internal politics. Members find value in the community, collaboration and sustainability that coworking space delivers. Professionals also have the opportunity to expose themselves to a refreshing environment and new perspectives, boosting creativity!
Productivity
Coworking offices are designed to promote productivity for professionals that might otherwise be working from their home, where there are many distractions. By going to a specialized office where everyone works, you’re able to immerse yourself in a productive work environment. Many coworking offices are accessible outside of the nine-to-five, so you can get your work done on your own schedule and when you’re feeling most productive. In addition, coworking members don’t have to worry about office maintenance, giving them more time to focus on their work.
Flexibility
Coworking spaces offer individuals flexible and affordable agreements. Rather than investing in office space, freelancers, remote workers or small business owners can avoid a long-term commitment. If they are unhappy with their coworking experience, they can cancel their membership subscription at any time!
