Don’t have an office space for your startup, Co-working is an option

Entrepreneurs at work in a Co-working space --- Image borrowed from www.coworkinglogin.it

 

So you’ve successfully started your business and are operating from your home office.  The business is not booming but things are picking up.  Meetings have been set with potential clients and investors but you are really uncomfortable accommodating them in your home office.  There is now a solution, it’s called co-working and for a startup business, it could be the answer to your prayer.

The concept of co-working spaces is well documented in developed countries, but for those of us who live in the Caribbean, it is still a new concept.  The following are some benefits for startups who want to use this as an option:

Benefits

·         You have a professional office space in which you can meet clients and conduct meetings and other business activities.

·         You pay for the space and time you need, only.

·         It provides a more formal arrangement than a coffee shop or internet café.  In addition to internet access, the co-working space also provides access to other technologies such as conference room facilities, AV equipment, office assistance and virtual assistance while you are ‘out of office’.

·         It provides networking opportunities – Not only will you be able to link with other professionals who can help to expand your business but also potential clients who are interested in accessing your product or service

·         It makes your business more productive – At home you may feel the need to take a ‘short’ break which can turn into hours.  In a formal working space, production is consistent; therefore you will be forced to make the time count.

·         There is a feeling of belonging – If your business is constantly in a space, you develop a feeling of being part of a community.  Your co-workers look out for you and you reciprocate.  There is also an increased possibility that your business will benefit from referrals based on the relationship developed with your ‘co-workers’. 

Of course there are some disadvantages to co-working but the benefits, particularly for a startup, far

outweigh the drawbacks.

Have you worked in a co-working space? Share some of the benefits your business has gained because of it...

Looking forward to hearing from you!