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4 Ways Co-Working Can Benefit Startups and Micro Businesses

01 May, 2017

A few of the largest businesses began in the garage while others started in the dormitories of universities.

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In the case of Facebook, a group of friends sat around a table since there was no other option. But now coworking offices in Canada bring startups and micro businesses together in a shared office facility with conference rooms, internet access, photocopiers and an opportunity to relate with other entrepreneurs.

Some entrepreneurs use these office spaces to get away from the distractions in their home office, while others use it to increase their productivity. Some even use these offices as a place to keep their laptop when they are visiting a city for a couple of hours. Here are some of the key benefits of using offices.

1. Low Cost

Renting a separate office in a business complex for your work can be quite costly at the initial stage. You will have to pay for rent, utilities and all other amenities such as internet access. This will no doubt be a significant amount of your budget. In contrast, using a membership-based working space will allow you to pay a single price for all services offered without any hidden charges when the month ends. You will not need to sign any expensive lease contracts or buy office appliances like fax machines, photocopiers and desktop printers. All these equipment will be available for communal use at a considerably low price. Similarly, rent is usually cheaper since you will be sharing it with other freelancers.

2. Networking and Collaborating

Taking time out to do networking at the beginning of a new business can be difficult and time consuming. Virtually all Toronto co-working spaces provide a good solution to this problem. They are perfect places to meet new people who will offer you valuable ideas, advice and contacts. Most of these offices go further to create special meet-up groups and networking meetings.

Eventually, it will be easier to work with people that you have built a relationship with. You will understand their skills and background and be able to meet their needs just as they help you to meet yours. Many of these offices also help you to protect your intellectual property and reduce competition by preventing people in the same business from working in the same location.

3. No Home Office Loneliness

Although working from your home office has a number of benefits like low rent and the opportunity to create the exact type of workspace you desire, it could easily get very lonely. There is a tendency for you to block out as much interaction with people so you can to maintain maximum focus on your work. This creates isolation which may become counter productive after a while. A coworking office offers you an excellent place to have rewarding human interaction. It offers you the meeting rooms and flexibility to leave your private cubicle and interact with people at designated times.

4. Fresh Ideas

In addition to receiving new and innovative ideas from your coworkers, the new environment also promotes creative thinking. If you are working at home right now, in one of the bedrooms or on your kitchen table, you will experience many distractions. Neighbours may drop in to see you and many house chores will call for your attention. Working in an environment that is free of such distractions will promote the flow of fresh ideas.

Coworking spaces can be the perfect place to start a business, especially when you are working as an independent consultant. It allows you to work with a low budget, to network with other talented professionals, and to receive fresh creative ideas that will help you to grow your business.

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