What defines a Shared Workspace or Coworking space can cause confusion. The difference between a shared workspace and Coworking space can vary between the vision of the space, the goals and needs of the members, as well as the demands of their business.
Especially with similar workplaces such as business centers, executive suites, shared spaces, and serviced offices providing members with a similar experience. It’s important to keep in mind that there are not a one size fits all for businesses that occupy both Coworking and shared spaces. Here are some important details to consider.
What is Coworking Space?
Coworking spaces are generally ideal for start-up businesses and entrepreneurs looking for a better alternative to working from home. These spaces are often home to freelancers, some of whom are just getting their name out and are not tied to any specific business or industry.
The benefits to these spaces is that they afford start-ups with an opportunity to stay lean, an inexpensive avenue for community and collaboration, as well as a lively and dynamic atmosphere that inspires productivity.
When coming to a Coworking space at an entry-level option, you’ll enjoy a clean desk, access to WiFi, as well as of course small perks like snacks and coffee. I know, coffee is surely not a small perk to some! You may pay a little more for supplies and other services, as well as access to printing, copying, and meeting/conference rooms.
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In comparison to working at home or from a garage, you’ll find Coworking spaces to be more productive. For freelancers, remote workers, and small business owners always traveling, Coworking spaces are ideal. You get what you need most, and don’t pay for space or services you won’t frequently use.
Interactive events, day to day activities, as well as projects that bring different start-ups together all unite a Coworking space. However, this can also cause a hindrance in productivity if you’re looking to work without noise or socializing.
What is Shared Workspace?
A shared workspace differs in that they usually cater to and house more established businesses. They often provide more traditional amenities to meet the needs of their clientele. However, it’s not that established businesses aren’t able to use or attracted to Coworking spaces, or vice versa. For now, it’s just how the majority of these shared spaces are operating.
However, when your business is picking up and you’re meeting with more clients and partners than you are other members in shared workspaces, you may want to consider picking up an option for a private office.
While shared workspaces spaces do offer private offices, having a fully-serviced shared workspace can provide a more direct connection with your clients. You can have meetings and provide for your clients without any interference from other members. Soundproof spaces for calls, as well as up to the minute technology for video conferencing and document sharing are all available in many quality workspaces.
The Difference
While Corporate Coworking is on the rise, shared office spaces are more focused on having more equipment such as fax machines, copiers, audio-visual equipment, as well as professional looking office furniture. Some shared offices operate as executive suites, with amenities such as full reception services, a kitchen, as well as private offices cut off from the rest of the space.
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It’s also important to note that Coworking spaces usually lease to members for a specific period from a singly hour to a range of 3 to 6 months. Whereas shared office spaces such as executive suites usually lease for a period of 12 months.
Coworking space will probably have a community manager or a facility operator for handling interactions. Take advantage of the benefits allotted to you with those values. Recently established and corporate businesses have been collaborating with Coworking spaces to go after some of the hottest startups, entrepreneurs and freelancers available today.
Factors to Consider
It’s important to understand the needs of your business and your clientele. For example, is it okay to meet at a café with your prospects or do you need a more professional environment? Has your team grown considerably to the point that working remotely is hindering productivity? Are the amenities within the space essential to the growth of your business or are there other ways to accelerate your business? If you need more security measures in place to protect your work and your records, a private office may be more ideal.
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There is no single correct method for finding the best office space to suit your needs and scale to your growth. To help gauge your needs, its best to understand what services you will be receiving within the workspace. It’s best to take these all factors into consideration for the best experience as well as the growth of your business.
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