Types of Co-working Spaces - Why Most Startups Preferred Co-working Spaces?

As more and more startups look to open offices in the UK, coworking spaces are enjoying a large upsurge in popularity, with the number of available spaces nearly doubling each year since 2012. 

This growth has raised questions about the appeal of coworking over traditional office arrangements, and whether these shared workspaces can truly provide everything that small businesses need to thrive in today’s competitive marketplaces. 

The answer to these questions often depends on the size of the business and the resources available to them, but some key benefits of coworking spaces still stand out as major reasons why most startups prefer coworking spaces in the UK.

What is a Coworking Space?

Coworking spaces are flexible work environments that are shared by a community of independent workers. Instead of renting an office, freelancers, entrepreneurs and start-up businesses can rent hot desks and offices within these shared office spaces for a fraction of what it would cost to rent your own private office space.

Coworking spaces offer worktables, conference rooms, phone booths and storage areas that members can use. They often have a kitchen where you can store perishable food or heat up leftovers from lunch. 

Many coworking spaces also offer other services such as printing, faxing and photocopying. These services vary between different coworking locations but most will provide some sort of service to their members.

Types of Co-working Spaces

Just like every other business, there are different types of co-working spaces that you can choose from. Some of them are 

Office space

If you’re looking for a place to set up your office with all your employees, then an office space is just what you need. It will give your company a professional look and feel while also allowing employees to work together in one place. 

An office space is usually ideal for small businesses or startups that want to get their feet wet before moving into their own building or renting out an entire floor somewhere else. 

Virtual office

A virtual office is perfect if you don’t have any plans on hiring any employees right away but still want to have a place where people can reach you. 

You might not be able to actually go inside these offices, but they come with some great perks such as mail forwarding services and receptionist assistance so clients know who they’re talking to when they call your number. 

Dedicated Desks

A dedicated desk means that your coworking space has reserved a specific place for you. This is nice because then you know where to go every day, but it can also be costly. Dedicated desks might be less flexible and customizable. If you are just starting out or have a smaller budget, consider getting an open seat at one of these spaces so that if things change, you won’t have wasted money on something you don’t need. Also note that most coworking spaces offer short-term memberships (typically from one month to three months) so that if it doesn’t work out, you won’t feel locked in for too long.

Hot Desking

As its name suggests, hot desks allow you to rent a desk within an office environment on a temporary basis. Usually, hot desks are rented out by the hour or day so you won’t have to worry about long-term commitments or contracts that lock you into something for years. 

They’re a good option if you plan on working remotely for a short period of time and don’t mind switching locations every once in awhile.

Advantages of Coworking Spaces

According to a survey of 959 startup founders, 99% use co-working spaces and 80% prefer them to offices. Why? There are several advantages: low costs, flexibility, networking opportunities and reusability.

Coworking spaces provide entrepreneurs with all of these benefits at a fraction of what it would cost to rent an office on their own.

When you’re just starting out, every penny counts! And while coworking spaces don’t necessarily have a ton of amenities like some traditional offices do, they offer more than enough room for most startups to get started.

Plus, there are plenty of other perks—like access to high-speed internet and meeting rooms—that can help your business run smoothly from day one. The key is finding a space that fits your needs (and budget). 

In fact, many companies choose to work remotely or outsource administrative tasks so that they can save money by working from home or another shared workspace. 

If you’re looking for an affordable way to launch your business, consider trying out a coworking space before signing any long-term leases. It could be exactly what you need to take things up a notch!

Why Most Startups Prefer Coworking Spaces in the UK?

Like most businesses these days, startups need to be more budget-conscious. In fact, more than 60% of startups claim their office space will cost them less than $100 a month; that’s far below what you’d pay for an office even one mile away from Silicon Valley. 

Read on to learn how co-working spaces can cut your startup costs and keep you focused on your business instead of your commute. A recent survey conducted by DeskMag revealed that more than 40% of small businesses want to reduce office expenses. 

The first place they’re going to look is their own offices—specifically, their current location or lease agreements. While cutting back might sound like a bad idea at first glance, there are many reasons why it could actually work out well for your business. 

For example, if you have multiple employees who travel frequently for work, having a physical office may not make sense. Instead of paying rent while they’re traveling, consider working from home and renting out your workspace when you don’t need it. 

Conclusion

We all know how important of an asset a good coworking space can be for new startups. Whether you are launching your startup or already running a business, co-working spaces are your partner on achieving your business goals.

There are plenty of such spaces across London and Manchester with most offering space for rent and others on a flexible membership basis. 

Some even have additional services, including workshops and networking events to help you boost your productivity while reducing overhead costs by letting you work outside of your home or office.