November 4, 2020

What Exactly is a Co-working Space?

The Lab Factory Team

November 4, 2020

What Exactly is a Co-working Space?

The Lab Factory Team

young woman in coworking space

The Co-working Boom

In these changing times, the modern workplace has evolved from single-company offices to co-working spaces that are open to freelancers, small businesses, and start-ups. Not only are these great for people who need to be mobile, but co-working spaces are also a more cost-effective option for companies on a budget.

So, what is a co-working space?

As the name suggests, a co-working space is a large room or even a full floor in a building that serves as a shared workplace for those seeking a quiet spot to work or for a venue where they can meet with partners or clients in place of a dedicated office.

Many co-working spaces offer a variety of amenities such as hot desks, shared galley-type kitchens, coffee services, and even conference rooms. It’s essentially getting an office without having to worry about overheads and operational expenses.

What are the advantages of being in a co-working space?

  • Increased productivity for freelancers as there are fewer distractions, and one can easily focus on daily tasks and projects. Following some productive workspace tips is an added benefit.
  • Better opportunities for networking and collaboration as people from a diverse array of industries use co-working spaces. The communal nature of many working areas with large work tables encourages socialisation and opens the doors to working partnerships and creating creative collaborative relationships.
  • A co-working space is a cost-effective choice for small businesses. Overheads and operational costs can eat up a great deal of money. These may decrease amounts dedicated to corporate initiatives and projects, so paying a fixed monthly rate for the use of a co-working space is a great help.
    Related Post: How Your Business Can Benefit from a Coworking Environment?

Enquire about The Lab Factory today

Ready to start co-working? Whether you’re freelancing or running a small business, consider The Lab Factory’s expansive co-working space for your needs. Give us a call today.

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