The pros and cons of co-working spaces
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.
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.