Co-working Spaces for the Self-employed

With a rising popularity in self-employment and freelancing, co-working spaces have become a popular phenomenon that has been embraced by those who work independently, but crave a sense of community in response to working in relative isolation.

Co-working spaces are essentially communal open-space offices and are an affordable solution to having a working environment outside of your home that is not a private office. They are popular among freelancers, entrepreneurs, start-ups and independent contractors.  A simple Google search will show that there are a wide range of co-working opportunities in most major cities in North America.

Besides being an affordable alternative to a private office, a co-working environment can provide many other advantages.

Escaping Isolation

Working in a home or private office can leave one craving face-to-face interaction from others during the day – especially those who aren’t clients! Self-employment can be isolating when your day to day activities are individual ventures. Co-working spaces provide the opportunity to work independently while being surrounded by others. Taking regular coffee breaks or having engaging in some water cooler gossip can help break up the day, create new friendships, and give you a chance to clear your mind from the daily grind of self-employment.

Creating a Community

Those who work in co-working spaces generally have the same values and influences, as they are usually made up of entrepreneurs and freelancers who are working hard to develop and build their business.  As the co-working environment is usually an open concept, it aids in developing relationships and finding inspiration from those around you. As friendships form, the community will naturally rally around each other and help each other out, building a mutual bonding through independent work that one can’t experience when working alone.

Networking

With a sense of community in the co-working space, networking opportunities will naturally follow. It’s great to find contacts that may be able to help you out in the future and for you to offer your services as well. Looking for a copywriter? Chances are someone in your co-working space has a recommendation. It’s much easier to go with a trusted referral rather than searching online and hoping for the best. Surrounding yourself with like-minded individuals can help your business grow and can build some strong and lasting relationships.  

Advantages of Co-working Space for Startups

Where should you develop your startup company? Should it be in a traditional office? In a loft or garage? Or at home? The choices are numerous.

We all require the social interactions and energy that an office can bring us, however many start-ups simply don't have the budget to rent out office space. But there is another option.

With an eye on their wallets, many startups are turning to co-working spaces to develop their companies.  These offices allow freelance contractors, micro-businesses and startups to share an office, with fully functioning conference rooms, photocopiers, and most importantly access to other entrepreneurs and peers.

For contractors and startups, co-working can provide a great opportunity to work with peers, develop a support network, have office space to show off during sales meetings, and all without the cost of a more expensive lease.

Here are some advantages to a co-working space for your startup:

1. Saving your money.

It can be costly to rent an office for a new startup – especially if you’re bootstrapping. You not only have to account for the rent but all the utilities and extras that you will need as well.  This can take a large bite out of your company’s budget. 

 Co-working office spaces reduce your need to sign an expensive lease or buy office equipment, such as photocopiers and fax machines, as they are shared at a fraction of the price.  Rent is cheaper too, as you will be sharing the cost between all of your co-workers.

 2. Networking, collaborating, and making friends.

The most praised benefit of a co-working space is the ability to network and build strong relationships with the people you work alongside. You will learn about your co-workers’ background and skills, sharing business experiences and even new ideas. 

Working with other entrepreneurs and freelancers will put you in proximity with individuals who could help your business. You could meet new clients, prospective investors, or you could even meet your next partner.  

3. Creative collaboration and problem solving.

You will be working side-by-side with a broad group of entrepreneurs in the office. If you ever have a challenging problem that you can’t solve, you can easily have a conversation with someone who may have faced the same issue.

You can discuss your ideas with others who have different skillsets and possibly can provide you with an alternative view. The combination of different experiences, approaches and personalities often provide new ideas and solutions that you simply couldn't have come up with on your own.