As a small business or a large corporation, the list of tasks necessary for the success of your company can be extensive. Finding innovative ways to limit costs and expand your business in a perpetually evolving marketplace can make or break your company.
Whether you are a startup needing an affordable, cost-efficient office space, or a large corporation looking to find ways to grow in a changing marketplace, a coworking space may be the creative solution you need.
Why coworking spaces are great for large companies
If you are a large company looking to cut down on expenses, coworking spaces may be the solution. Coworking spaces significantly cut down on buying or renting office space, by paying daily or monthly fees to use the facility. This can help to greatly reduce the stress and hassle associated with maintaining a workspace, and allow you to spend time on the more important things that help your business grow.
Benefits of coworking spaces for large companies
Gaining new clients
For most large businesses, having access to a workspace in a shared office space has nothing to do with cost. Instead, many large corporations are entering the coworking space for networking and business connections. Success in business is often a result not of what you know, but rather who you know, and being in a shared office space with other businesses helps large corporations develop connections, propelling their business forward.
One such company, an advisory firm called KPMG, is a company that employs tens of thousands of employees. Being an advisory firm, many of their clients are startups, making a coworking space ideal.
According to Patrick Imbach, head of tech growth at KPMG, “Startups and high-growth businesses are very different to large and established corporates, and we believe if it’s a market that you actively want to be in, you have to physically be there.”
Improved entrepreneurial influences
Even if a large corporation does not conduct business with startups, there are substantial advantages to coworking spaces. One such benefit—increased entrepreneurial skills—is one that corporations benefit from. Employees of big businesses are able to collaborate, build relationships, and learn from entrepreneurs, gaining valuable skills through an exchange of a ideas. This collaboration can cultivate a heightened sense of creativity among the employees of big businesses, bringing new ideas to the company, formulating strategies for growth and advancement into unexplored fields.
According to a new survey published by LinkedIn, approximately 85% of all jobs are found via networking. Coworking spaces are ideal places for large corporations to network, build relationships, and ultimately, recruit employees. The workplace is changing. There is no doubt about that. As baby boomers retire and millennials continue populating the workplace, it is vital that large corporations continue to adapt to changing times if they want to survive. This is explained beautifully by Imbach:
“For most large businesses, having a space in a coworking environment has nothing to do with cost, but all to do with innovation, the stimulation of ideas, and also in helping with recruitment and retention—particularly for millennial employees who don't want to feel that they are a cog in a large corporate wheel. Many of our younger staff are keen to get involved in what we're doing in our coworking spaces; working with and mentoring some of the startups that we work alongside," says Imbach.
Unfortunately, most corporate offices are affected by office politics, creating an environment not conducive to collaboration and productivity, negating the effects of a support and inspiring workspace. Coworking spaces provide the encouragement and creativity without all the office politics. At coworking spaces, employees are no longer confined to the isolation of working in a cubicle. Instead, they are part of an exciting synergy, promoting teamwork and cooperation without the competitiveness of a traditional hostile corporate work environment.
When you rent offices from a coworking space, the office comes pre-furnished, further reducing the resources needed in setting up your company’s workspace. Coworking spaces are designed to allow for optimal performance, and give your employees the tools to perform at a high level. Coworking spaces provide room for both collaboration and solitude, and give your employees what they need to get their work done effectively and efficiently. A recent trend in some of the top companies is the creation of open floor office plans, to promote positive interactions, and facilitate the exchange of ideas among employees. Coworking spaces understand the importance of teamwork, and are designed accordingly. In addition, many coworking spaces have private offices that allow businesses to work in solitude with no distractions, for optimal efficiency, if needed.
Need to print a report or mail a big proposal to a client? Coworking spaces have you covered, and are constructed with your needs in mind. As a result, most coworking spaces come equipped with printing and mail stations, as well as high-speed wireless internet access. These may seem like small things, but they can be important for your company’s business.
Having a place where your employees can go rest in the middle of the day can prove to be very beneficial. A study published by the University of Illinois at Urbana-Champaign, in the Journal Cognition
, showed that individuals who took brief mental breaks periodically throughout the workday significantly improved performance, compared to those who worked straight through from start to finish.
To allow you and your employees the space needed to refocus mentally, many coworking spaces have a lounge area designed specifically for that purpose. Typically, this area has a food and drink bar, and a lounge area, to help you and your employees take a break, have a snack, get a drink, recharge, and get back to work.
Safety and security are vital components of having an office space, and coworking spaces are designed with this need in mind. For this reason, you can rest assured that your office will be secure when you are not present, as coworking spaces often have high-quality, state-of-the-art security systems implemented.
Large open tables and personal desks
Many coworking spaces have both large tables and personal desks, to ensure that you and your employees have what is needed to perform at high levels. Although sometimes large tables, which allow for the exchange of ideas and insight into problem solving, are necessary to accomplish a task, other times, personal desks, which allow for solitude, introspection, and increased efficiency, are needed.
Have an important meeting and need a large, quiet space in which to conduct it? Not to worry. Coworking spaces have you covered. Many coworking spaces contain conference rooms for conducting all of your company’s business meetings.
Areas for events
Whether you are having clients over for a meeting, or are holding an event for the community, a coworking space is the ideal place for people to gather. Many coworking spaces have conference rooms and spaces specifically for events.
Access to coworking spaces around the country
Another great benefit of coworking spaces is the ability to use different coworking spaces nationwide. For example, here at Deskhub, we understand that large corporations often have to travel to attend meetings within the company and with outside clients. Being part of a coworking organization like Deskhub allows the flexibility to use other shared spaces around the country. Instead of having to rent space for the day or week, you can feel confident knowing you can bring clients to a comfortable, professional work space.
One of the major benefits of coworking spaces is the ability to network effectively with other professionals within your shared space. These talented individuals from their respective fields, will add new perspectives to your business plan, that can help in ways you never thought possible. The ability to collaborate with people from other industries allows new ideas to manifest and surface, while helping you take your business to the next level.
Coworking for small businesses
Coworking is not only great for large companies, but is also ideal for small businesses.
In today’s business world, it is no easy feat to own a successful small business, especially when big businesses run the show. There are many different components that are vital to the overall success of your company. Listed below are the different ways that coworking spaces can help your small business:
A comfortable, supportive work environment
Making sure your employees feel at ease and valued is extremely important for the success of your business. What separates a coworking space from a traditional office is its flexibility and creativity. Traditional offices, in many cases, impede creativity and inhibit ingenuity, resulting in dull and uninspiring workspaces. Unlike coworking spaces, they don’t offer room for collaboration and the culmination of ideas. They are also expensive, and often have steep overhead costs.
Collaboration In CoWorking
As a small business, collaboration can be helpful in the cultivation of new ideas, which can be what your business needs to take that next step. If your current working environment is not adapted to the demands of your business, and you feel that the creativity of you and your employees is stunted, a shared office space is what your company needs.
Shared office spaces help promote the exchange of ideas between like-minded individuals and business professionals, encouraging the undertaking of innovative new projects and goals. In a recent study, 71% of shared office users reported a boost in creativity. This is substantial, and shows the positive impact a shared office space can have on your business.
Having the option to interact and consult with other like-minded business owners, telecommuters, and freelancers gives you and your company the ability to consider different ideas and opinions on how to improve your business moving forward.
There is little debate as to the importance of networking for the success of small businesses. Being able to share a space with other hardworking, determined professionals is a great way to expand your inner circle and form valuable business relationships.
Freedom to work as needed
One study showed that only approximately 30% of office staff stated they preferred working during normal business hours. This study reflects the recent shift in business trends for employees. People want more flexibility to be able to work on their own terms. Whether your company adheres to standard 9-5 business hours, or does things in a more out-of-the-box manner, shared office spaces can accommodate your business needs.
Other benefits of coworking spaces for small businesses
Owning and running your business is no easy task. Limiting many of your expenses can be helpful, as you work to increase the profitability of your company. Whether the expenses are related to maintenance or the overhead price of equipment, using coworking spaces as your company’s primary office space can greatly reduce many of the costs associated with typical business workspaces, while preserving the quality of a conventional office.
Many of these benefits include:
No long-term lease
With coworking spaces, there are no long-term leases. Whether you want to rent office space for a day, a week, a month, or a year, you can do so. This is what often makes coworking spaces so appealing to small businesses. Coworking space is ideal for businesses in a transition phase, in the process of expanding but needing a temporary office for the time being, or for businesses looking for the flexibility, convenience, and networking that coworking spaces provide.
To promote a great work environment, many coworking spaces host events, such as planned parties, ideation sessions, and learning lunches, to discover something new, cultivate personal and/or business relationships, and create a positive work environment. This can be great for boosting the morale of your employees, and allowing them to be part of an enjoyable environment. The workplace is changing, and employees want a community. By hosting regular events, coworking spaces provide the community aspect that employees are increasingly craving.
Various seating arrangements
Being able to have different options for seating arrangements can be important for small businesses. Many coworking spaces are specifically designed to give you and your company the freedom to organize seating arrangements in a way that is most effective and helpful for the success and productivity of your small business. Whether you and your employees prefer private offices or open floor plans, chairs or couches, desks or tables, coworking spaces have you covered. In addition, coworking spaces give your company the option of renting the same desks on a long-term basis, where you and your employees can leave valuables at day’s end. However, if you prefer a more irregular work schedule, flexible working units are also available.
As a small business, reducing expenses whenever possible is important. By using a coworking space, you don’t have to spend money on any furniture, office supplies (such as printers and staplers), wireless internet access, IT, long-term leases, and more. When your business grows and it makes sense to get your own working space for your company, you can easily transition, as there are no long-term leases or contracts to worry about.
To allow for comfort and convenience, many coworking spaces have storage space available. This allows you or your employees to use secure lockers to store valuables, such as a laptop, eliminating the need to take office supplies to and from work every day.
Coworking for small and large businesses
Whether your company is a startup in its early stages, or a large business with years of success under its belt, coworking spaces can be a viable option. Providing ease of use, flexibility, affordability, comfort, convenience, and networking possibilities in a functional, no-strings-attached coworking space, can really add value to your business. The added responsibility, and all the costs associated with having your own private office, can be stressful. Using a coworking space can help you have a few less things to worry about, to allow you the time to spend on things that really matter.
How Deskhub Can Help
Deskhub is a coworking space with two locations, one in Scottsdale, AZ, and one in San Diego, CA. If your business is located in either of these two areas, come take a free tour of our coworking facility and see if a coworking space would be a good fit for your company. Send us an email at email@example.com
, or give us a call at either our San Diego location at 858,736.9032, or our Scottsdale location at 623.335.0288. We look forward to hearing from you.