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The future workplace

4 ways a co-working space can help your business thrive

The ‘traditional’ workplace is now a thing of the past for many businesses who have adopted innovative new ways of working.

The ‘traditional’ workplace is now a thing of the past for many businesses who have adopted innovative new ways of working.

These new ways of working, such as flexible, remote and office-less working, have transformed the way that companies operate, and the vast majority are seeing huge benefits. One of the most predominant ‘new’ ways of working that has emerged in recent years is the use of coworking spaces as opposed to a fixed business office.

Over the past four decades, many business owners have tested ‘experimental’ working spaces, similar to the concept of present-day coworking. However, the first coworking spaces can be dated back to the early 00s, when a factory in Vienna was transformed into a place in which entrepreneurs could work away from their home. This provided these business leaders with the opportunity to network with fellow entrepreneurs and opened the door to collaborative working.

Fast forward to the present day and coworking spaces can be found throughout the globe. These spaces are utilised by businesses in a range of industries for many reasons. Below we take a look at just some of the ways that coworking helps these businesses thrive.

Coworking benefits

Reduced costs

Running a business will often come with a variety of overhead costs such as lighting, heating, internet, etc. With coworking spaces, however, these costs are effectively eliminated, as they are included within your daily, weekly or monthly rental costs. If your business regularly meets with current and prospective clients, these spaces often provide meeting rooms for a small fee also, allowing you to convey a professional appearance without the significant expense of having this facility within your own office.

A network of contacts

Running a small business, be it with a very small team or on your own, can be rather isolating at times. In addition to this, it can also be tricky to build up a network of contacts, that can prove to be vital as your business moves forward. Coworking is highly conducive to achieving this, building a rich network of fellow businesses that can support you in many different aspects. As a result of many businesses coming together, sharing knowledge, recommendations, and support, a coworking community is built.

Improved work-life satisfaction

Work-life balance can play a crucial part in the success of a business. Many business owners that work from home struggle to separate these two areas of their lives, which can have a significant impact on their well-being. A recent survey of business owners that have turned to coworking found that 89% were happier since joining a coworking space. This is down to many reasons including a clearer separation between work and home life, a sociable atmosphere, a relaxed working environment and overall a healthier approach to working.

Improved productivity

Offices and home offices bring with them a wide array of distractions which can have a negative impact on productivity. A coworking space, where you work alongside like-minded people, can have a significant effect on your motivation to work and thereby increase your productivity. Not just this, but with a variety of different spaces within a coworking office, such as meeting rooms, ‘work pods’ and hot desks, you can choose your environment based on the work at hand.

Moneypenny’s coworking space

Moneypenny delved into the world of coworking in London last year, with the opening of Workhub. Based in the heart of London’s ‘Tech City’, we opened the Workhub to provide professionals with a state-of-the-art coworking space in which to work, network and further their business. With hot-desks, meeting rooms, fixed work stations, and offices available, alongside a wide variety of amenities that include: free fruit, Nespresso coffee, receptionists, outdoor terrace, printers, showers, lockers, and superfast Wi-Fi, Workhub can provide the ideal space for any business owner or professional.

Are you looking for a London coworking space? Workhub is available to Moneypenny clients for FREE; contact our team today for more details.

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