Picture this - free flowing coffee, high-speed WiFi, lounge sofas, and a network of knowledgeable and driven individuals plugging away on their technology. While the list of perks seems appealing, the true benefits of coworking lay beneath the surface. Each and every day, more London-based startups are migrating towards coworking spaces due to the economic and tactical benefits on offer. Here’s a list of key benefits you should consider when thinking about moving your startup into a coworking space.
Whether you have a growing team or you need to relocate to a new city, coworking proves to be the most cost effective option. In a coworking space, there is no need to lease a bigger office. Rather, pull up a few extra seats or move to a more private room within the space. A coworking space allows for hassle-free adjustments, whether you’re downsizing or upsizing.
If you’re an early stage startup, cash flow is hugely important in regards to survival. Coworking spaces offer flexible and affordable membership options. This helps to reduce any jaw-dropping up front costs similar to what you could expect when renting office space in central London. Rather, you can reinvest any additional cash back into the product, onboarding new employees, or in other areas that drive growth.
Running a startup can be a long, lonely journey. We see this a lot with a one or two man team running his or her business from their home office due to the expensive price tags on London office space. At WorkClub, there is no need to feel lonely. Members are constantly working with like minded individuals who have likely gone through something similar at some point. By basing a team in a collaborative environment, the stage is set for success.
It’s easy to underestimate the high-stress levels that tag along to the startup life. We hear it goes something like this; work, sleep, eat, repeat. There will be days when you doubt not only yourself, but your company as a whole. In a coworking environment, you are surrounded with talented, driven and hard-working individuals which will help with staying on track.
Chances are that your coworking neighbors are useful, bright contacts for you and your business to have. To your left, a freelance journalist and to your right, a video production expert. Can you imagine? You never know who you’ll meet, so tapping into the diverse range of skills and networking whenever possible is a must.