The Benefits of Coworking Spaces for Startups

Finding the right office space for your startup business can make a world of difference for your organisation. It has the power to position your brand for success, especially in the early stages of life as a startup.

Before we dive into the plentiful benefits that this modern office setup can have for your business, let’s answer the question: what exactly is a coworking space?

What is a Coworking Space?

A coworking space is a public workspace that can be hired as and when you need it. They appeal particularly to part-time and drop-in workers who have flexible schedules, so they can swing by the ‘office’ when they need to, without paying for space they’re not using. 

Increasingly, however, they’re appealing to new businesses that need office space without the routine hassle that comes with maintaining their own building.

What Makes Coworking Spaces Perfect for Startups?

The popularity of coworking spaces has blossomed in recent years. They’re an accessible, stylish and flexible place to work, making them particularly attractive to entrepreneurs and professionals from a range of backgrounds.

This appeal, which transcends any single profession, is a key draw of coworking and one we’ll cover in more detail throughout this article.

7 Benefits of Coworking Spaces

Below are some of the key benefits of coworking for startups. While not an exhaustive list, this gives an idea of how you can expect your business to profit from embracing this modern way of working.

1. Highly flexible working

Coworking is flexible by nature. You only pay for the space when you use it – whether that’s a week at a time or just for a day.

Getting a startup off the ground is not a 9-5 job. It requires flexibility, the days often running at odd hours. This is what makes the partnership between startups and coworking spaces so appealing; they are tailor-made for each other.

2. No overhead costs

Startup businesses are busy. You want a workspace solution that keeps your schedule as clear of admin tasks as possible, allowing you to focus on the tasks that matter. 

Coworking spaces are managed by the building, meaning you don’t have to worry about cleaning and maintenance. You simply turn up, plug in and get to work.

3. Enjoy a workspace that scales alongside your business

Because coworking spaces are designed to cater to multiple businesses, it stands to reason they’re also flexible when it comes to the size of your startup.

The early stages of business growth can be unpredictable; you may go on a hiring spree and suddenly need more space. Or, perhaps you’ve been working with contractors for a short while and the partnership is coming to an end, meaning you don’t need as large a workspace.

Coworking arrangements are perfect for this level of unpredictability; because you can hire them as and when needed, you can adjust the number of desks you need as well – on extremely short notice if necessary.

4. Networking opportunities

Networking is one of coworking’s greatest strengths. You’ll be sharing a workspace with professionals from a diverse range of industries and sectors. Some will overlap with your own, others won’t; regardless, it’s a great way to meet new people and form new partnerships which can have a proactive impact on your business.

Coworking spaces also typically have an adjoining recreation area, where you can exchange ideas and ways of working in a relaxed way – or even find new clients right on your doorstep.

5. Access to a wider network of talent

With professionals from a broad range of specialisms in close proximity, coworking spaces are great not just for networking, but for recruiting as well. 

In the early stages of your business growth, you may need to outsource tasks that your existing team can’t perform. When coworking, you have essential access to talent outside your organisation’s current capacity, some of which may be looking to partner with a business just like yours. You never know who you might strike up a conversation with – so, get networking!

6. Maintain a professional image 

Even as a startup, a professional appearance is everything. Coworking is the best of both worlds because:

1. It offers a flexible workspace that you can use when needed; no more, no less
2. It shows key personnel and stakeholders that your business is taking strides to operate in a stable and permanent capacity

Professionalism says a lot about a startup and having an office address – even if it’s a coworking office – can make a world of difference in attracting new talent and making a good first impression with investors.

7. Accessible and centrally located

Last but not least, coworking spaces are often situated in central locations, positioning your business in the perfect location without breaking the bank. Central offices are a luxury that few organisations can afford, but even startups can benefit from life in economic hubs with the aid of a coworking space.

One example of excellent accessibility comes from the long-awaited and recently launched Elizabeth Line, which eases travel to and from central areas throughout London. For businesses using Us & Co’s office spaces, for example, getting to our Stratford location has become a breeze.

Give Your Startup a Boost with a Coworking Space at Us & Co

Like the sound of an easily accessible, well-kept, flexible and sociable workspace?

Us & Co is a series of professional workspaces in London and Dublin. We currently house a number of startup businesses in each of our 3 locations, so if you’re looking to join them in our attractive coworking spaces, we’d love to hear from you.

Contact us today to find out more about our flexible office spaces for rent, or book a tour of our facilities below.

London, Stratford

London, Monument