Are Coworking Spaces Worth It?

Coworking office space seems to be a big buzzword that appeals to small businesses everywhere. Since most co-working spaces come at a nice price reduction compared to traditional office space, it is slowly becoming the new norm. While it seems like a co-working space might be the best option for your business, you need to consider the pros and cons of this modern office solution. 

The Numbers

There are over 35,000 flexible workspaces in the world today, and the global market of flexible workspaces is estimated at an approximate $26 billion. These statistics seem indicative of where office space is going, however, one may assume this is simply because of the initial cost-reduction for small businesses. Cost is always at the forefront of the minds of entrepreneurs and new business owners, but instead of only considering cost, one may look at some of the cons associated with the ever-popular “co-working”.

“Working from home, or working solo when you’re a remote employee can be highly challenging for a lot of people,” suggests Jackie Minchillo, co-founder & president of Pineapple Development. This is why a lot of employees or entire company teams use shared workspaces to improve productivity by having them work in a more formal work environment. Unfortunately, in a lot of cases employees feel more part of the co-working space culture than the company itself.

Cons to Consider

“When in a coworking space,” said Kenny Trinh, CEO & managing editor of Netbook News, “it’s much more likely that your culture will be influenced by other companies as well.” Thus, in coworking spaces there can be negative influences that garner envy and annoyance rather than positive results. For example, workers may become envious that your company isn’t as enjoyable as another company in the co-working space, or your employees may struggle to focus if other companies’ employees are too loud. 

While a co-working space to work from is great, Trinh believes having a devoted area for your company is also important. He describes this committed workplace as “A place where everyone sits close to each other, ideally with a lower than eye-level wall (or glass) around so they can still see other companies, not too high that it makes your employees feel suffocated.” That way, employees can work in partnership with each other without being subjected too heavily by other employees in the workspace.

Explore how The Enterprise Center can meet your business needs. See what kinds of clients we work with and see what we have to offer. Maybe you’ll find the office space you need!