Small Business Tips
If you’re self-employed and work from home, you’ll know the score. You answer to no one but yourself, and you can work in your PJs, in the garden and in your own sweet time.That’s the upside. The flipside is loneliness, lack of discipline… and distraction. Ah, distraction. As in the cat, the dog, the TV, the Internet, the grass that needs cutting, the dishes that need doing, the morning paper and the afternoon nap.Maybe you’ve tried a coffee shop. But perhaps you got tired of the wall-to-wall jazz, the backache from trying to work in the over-comfy chairs, or balancing your laptop on the cistern when you popped to the loo.All understandable. So is there a halfway house? Oh yes. Co-working spaces (hyphenated so as not to be confused with cow orking) have been springing up across the UK for a few years now.
What is co-working office space?
In brief, co-working spaces offer freelancers, start-ups and the otherwise self-employed the chance to come together in a fully equipped office space for a flat-rate membership fee.Predictably, London sits at the hub of the action. In fact, the English capital is the world’s capital for co-working spaces. In 2017, there were 2.5 million square feet of office space leased to flexible-workspace providers. That’s a 190 percent increase on 2016. Research from Cushman and Wakefield shows just how much the sector has taken off, with 21 percent more square footage in the capital signed up to flexible workspaces than to all other commercial office leases.From 2016 to 2017, there was also a 10 percent rise in rent paid by flexible-workspace providers in London, with leases averaging £65.50 per square foot.
How do co-working office spaces work?
Co-working spaces are just like a regular workplace. Except that you won’t be working with colleagues. According to researchers at the Harvard Business Review, that’s a good thing.Apparently, with little direct competition or internal politics, there’s no work persona that people adopt as they walk through the door. Working around people doing a range of different projects can also reinforce your own work identity, they say. Here’s what you’ll typically find in a co-working space (besides exposed-brick walls, trendy lighting and free coffee):
- Shared working space
- 24/7 access
- Conference and boardrooms
- WiFi
- Shared printing, copying and scanning
- Private Branch Exchange (PBX) phone equipment
- Shared kitchens and restrooms
In swankier venues, you might even find cafes, fitness and sports centres, libraries and storage facilities.And if you want to go mega-trendy, you show up at the Google Campus in London. Here, seven floors of office space are given over to freelancers and new companies in Shoreditch’s buzzing Tech Nation. There’s a whole raft of services to pick from in a ridiculously hip workspace in which the plants tweet you when they need watering.Of course, you don’t need to be in London to enjoy co-working opportunities. Facilities are springing up in all the UK’s big cities, but they’re especially prominent in Manchester, Glasgow and Birmingham.There’s usually a flat-rate membership fee for lessees, with the fee structure geared around the number of visits per week, month or year, or based on a single visit. Generally, you won’t need a deposit and there’s no minimum stay.
What makes a good co-working space?
So, what do freelancers need to look for in a co-working space? Free coffee is always nice, but there are more practical elements to watch out for.Furniture is key. Chairs and tables in co-working offices usually look cool, but you shouldn’t overlook lumbar support. It’s hard to be hip when your back hurts.A range of furniture is also a bonus. Desks should come with task chairs, some people prefer the elevated feel of bar tables, and there’s a growing demand for standing desks, too. And look for comfortable sofas and low tables in the communal areas, to encourage interaction (and networking) between workers.The best co-working spaces will be run by community managers who love dealing with people. They’ll get to know you well so that they can find out what your needs are and connect members to each other and make people feel comfortable right from the start.Speaking of comfort, watch out for homely touches such as cushions, ornaments and other knick-knacks, coffee table books and even bars. Spaces that exude personality, as well as looks, are the ones you’re more likely to return to. A bit like dating.
What are the benefits of co-working spaces for small business?
For small businesses, there are many benefits of co-working beyond the provision of tables, chairs and WiFi. Here are a few:
1. Networking
When you work alone, there’s a barrier between you and the rest of the world. Co-working puts you among people with different skills and different approaches to problems. Try to find a co-working space specifically geared around your sector, to increase the power of this benefit.Working like this, co-working spaces can help start-up ventures grow by bringing together home-based professionals who can pool ideas and knowledge. They can network, refer leads and generally grow together.Maybe you’re looking for a bookkeeper, a web designer or a copywriter? Someone to sort out your social media? Offering your products or services to other members, maybe at a discount, could win you new business without the expense of marketing.
2. Beating loneliness
Working at home can be heaven. Peace. Quiet. No gauging where you stand by the width of your boss’s smile.It can also be devastatingly lonely, isolating and terrible for your social skills and mental health. Human interaction is an essential part of life, particularly in a work environment.In a co-working space, everyone will be working on their own stuff, but they’re all like-minded people—none of whom is competing with you for promotion or the approval of the boss. You can all help each other. At the end of the day, you’ll go home feeling fulfilled and energised.
