The pros and cons of co-work­ing spa­ces

Financial Mirror (Cyprus) - - FRONT PAGE -

A new in­ter­na­tional sur­vey by Re­gus re­veals that many busi­nesses, es­pe­cially start-ups, are opt­ing for co-work­ing spa­ces to achieve a cre­ative, in­spir­ing busi­ness en­vi­ron­ment cost ef­fec­tively.

For en­trepreneurs, th­ese are the ideal en­vi­ron­ments where start-ups thrive and they can min­gle with other busi­ness own­ers. Some­times though, co-work­ing spa­ces are too ca­sual for im­por­tant client meet­ings and pri­vacy is scarce.

While there are sev­eral ad­van­tages to cowork­ing, shar­ing of­fice space also has dis­ad­van­tages. Here are four pros and cons that you might want to con­sider

If you en­joy the con­ve­nience that sta­teof-the-art of­fices of­fer but don’t have the cash to pay for it, a co-work­ing space may be the so­lu­tion. You’ll have ac­cess to copiers/scan­ners, fax ma­chines and pos­si­bly free­lancers will­ing to per­form help­ful tasks. Be­cause it is a shared en­vi­ron­ment, the costs will be far less than a pri­vate of­fice. You also won’t be forced to sign long leases and you’ll main­tain free­dom and flex­i­bil­ity.

Be­cause you re­ally have no one to an­swer to but your­self, one of the hard­est parts of be­ing self-em­ployed is find­ing the mo­ti­va­tion to get started with your day. Some­times, hav­ing other peo­ple around helps to keep your in­spi­ra­tion and en­thu­si­asm high. By shar­ing your plans and goals with oth­ers, you’ll be held ac­count­able for your startup’s progress.

You can never make too many con­nec­tions while you’re build­ing your busi­ness. What bet­ter place to con­struct a solid net­work than a com­mu­nal work en­vi­ron­ment?

Some­times, it can take an ex­ten­sive amount of time and en­ergy to fig­ure out so­lu­tions to prob­lems. By be­ing in a col­lab­o­ra­tive work en­vi­ron­ment, you can reach out to other en­trepreneurs to get their ad­vice. Of­ten, they will have ex­pe­ri­enced a sim­i­lar is­sue and may of­fer a cre­ative so­lu­tion or prac­ti­cal sug­ges­tions.

Busi­nesses

re­port

that

co-work­ing spa­ces are too ca­sual for im­por­tant client meet­ings and pri­vacy is scarce. This high­lights the need for ac­cess to pro­fes­sional work­ing spa­ces to carry out sen­si­tive busi­ness meet­ings or pro­vide a calmer en­vi­ron­ment for work­ers who find it hard to con­cen­trate in col­lab­o­ra­tive spa­ces. Make sure you take into ac­count this ad­di­tional monthly ex­pense be­fore sign­ing up for a spot.

A co-work­ing space is sup­posed to in­crease pro­duc­tiv­ity. If you find your­self con­tin­u­ally be­ing eas­ily dis­tracted, it may be time to re­turn to the home of­fice. More than 70% re­port that lack of pri­vacy is one of the main con­cerns

Low in­ter­net band­width and con­cerns that sen­si­tive doc­u­ments might be read by other busi­nesses are two of the most im­por­tant draw­backs for the busi­nesses that op­er­ate in shared of­fices. Make sure that the right in­fra­struc­ture is there to pro­tect to al­low trou­ble-free work­ing.

It is pos­si­ble that you’ll find your­self in di­rect com­pe­ti­tion with some­one shar­ing your co-work­ing space, and it can be a bit un­com­fort­able. Stay fo­cused on what you want to achieve and keep your cards close to your chest. If you can, try to turn a po­ten­tial com­peti­tor into your ally. If you’re both tal­ented and have sim­i­lar goals, maybe the best way for­ward is to put your heads to­gether.

Ka­te­rina Manou, Gen­eral Man­ager of Re­gus in the Balkans and Cyprus stated that, “Re­gus is a com­pany that of­fers busi­ness lounges and co-work­ing spa­ces in more than 100 coun­tries and places great im­por­tance on its premises in or­der to fully cover the needs of its clients, by of­fer­ing flex­i­ble con­tracts, low costs and mod­ern tech­no­log­i­cal in­fra­struc­ture ac­cord­ing to the needs of a mod­ern com­pany, de­spite its size”.

Com­pa­nies like Google, Toshiba and Glax­oSmithK­line choose Re­gus www.re­gus.com so that they can work flex­i­bly and make their busi­nesses more suc­cess­ful as they grow around the world us­ing any one of the brands in­clud­ing Re­gus, Re­gus Ex­press, Sig­na­ture Group, Open Of­fice, Spa­ces and Kora.

In Cyprus, Re­gus www.re­gus.com.cy op­er­ates in Nicosia (Ja­co­vides Tower, Gri­vas Di­ge­nis Ave.), Li­mas­sol (Vic­tory House, Arch. Makar­ios Ave.) and soon in Lar­naca.

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