It seems like co-working spaces are becoming a huge thing. More and more entrepreneurs out there decide to ditch their traditional office and take their business to a co-working space.

And if you’re running your own business, chances are you’re already aware of some of the benefits co-working spaces bring. However, here, you’ll find a few more reasons why joining a co-working space makes a lot of sense.

12 Benefits of Co-Working Spaces

1. Low startup cost

If you’re just starting out, you’re probably looking for premises that won’t drain your budget. By moving to a co-working space, you’ll eliminate the costs of fire insurance, office equipment and various similar expenses.

Not only that this will help you save money, but less time and energy will be needed for sourcing things like this.

2. Increased flexibility

Another great reason to opt for a co-working space is increased flexibility.

This means that the more your business keeps growing, the easier it will be for you to expand your office space. Most of the experts who are running co-working spaces will allow you to tailor your contract according to how well you’re doing.

3. Less risk

When moving into a traditional office, there’s always a chance you’ll lose the money you’ve invested in it if your business fails. And selling all the office equipment and furniture isn’t always going to be easy.

But if you take your business to a co-working space, you won’t have to worry about risks like this.

4. Short setup time

One of the biggest problems small businesses face when moving into a traditional office is the long setup time.

For small businesses, time is an important asset and the last thing you want is to lose money while moving. Luckily, with co-working spaces, not too much time is needed in order to get everything in the right place.

5. Fast internet

Modern-day businesses in just any industry need Internet and they need it to be fast.

This is probably the case with your business as well and fast internet is another reason to join a co-working space. And even if there’s something wrong with the connection, you won’t be the one having to deal with the issue.

6. Collaborative atmosphere

Some people would have you believe that having people from other companies around your team makes them less productive. But the truth is, it’s easier to perform when you know there are other teams doing the same right next to you.

Another important thing to mention is that too much familiarity traditional offices offer makes your employees less productive.

7. More opportunities for networking

When running your own small business, you’ll have to put some extra effort into meeting as many businesspeople as possible.

The more of them you meet, the better. If you decide to move into a co-working space, you’ll have all the networking opportunities you need.

8. Easier to get

Let’s face it, finding a perfect traditional office for your business is difficult. What’s even more difficult is actually obtaining that office.

With co-working spaces, you won’t have to worry about things like this. This is the case because there are plenty of these out there you’ll be able to choose from.

9. More flexible access

Most co-working spaces out there are run by its landlord and the building management. What this means is that your employees will be able to work whenever necessary, since the office will be open even during Sundays and public holidays.

Also, when working on a big project, your employees will be able to access the office 24/7.

10. Better design

Another issue many entrepreneurs face is designing their office. Not only that this can take money, but it also requires a lot of effort.

However, with most co-working spaces out there, what you’re going to get is a beautiful office you can move into. This means your new office might be equipped with things like a green wall and comfy furniture.

11. Premium brand imagery

In the business world, it’s very important that you give your brand a boost by using premium facilities. In fact, this is something that’ll help your business obtain more loyal brand followers.

When working in a co-working space, you’ll be provided with all the nice-looking facilities your brand needs.

12. Happy hours

No matter how many employees you have, they’ll want to be surrounded by people they consider friends.

If you join a co-working space, there will be plenty of opportunities for your employees to hang out with other people from the building. This translates to more drinks after work and more motivated employees.

Co-working spaces really are the way to have it all without having to break the bank. So, no matter if you’re moving from your garage or a traditional office, you’ll definitely want to think about joining one of these. Luckily, more and more co-working spaces are popping up all over the world.

***

This is a guest post by Derek Lotts.