• MidTown WorkSpace

How Coworking Spaces are Ideal for Entrepreneurs

Self-employment is on the rise and for many who are trying to cut costs, coworking is the way to go. There has been an explosion in demand for coworking space especially amongst the millennials in tech industry startups. Deskmag's 2017 Global Coworking Survey noted that per year the number of coworking members is growing at 40 percent while the number of coworking spaces is growing at 22 percent.

Those entrepreneurs that are looking for low costs to begin their startups, opting to use coworking space is ideal for this. Working from home could help with this, but it can make one feel isolated and/or distractions tend to impact your productivity. This is where coworking space can help, it is typically run on a month to month basis for rent. You are able to work in a professional workspace but without the high upfront costs and long-term commitment.

Another major advantage would be that coworking facilities are all-inclusive. One can avoid the traditional costs of a typical startup such as furniture, utilities, conference rooms, and amenities. Coworking space also provides one with fewer responsibilities such as maintenance and cleaning of your work place.

Flexibility, convenience, and social interaction are also benefits provided by utilizing a coworking facility. This type of environment makes it ideal to network with other entrepreneurs and possibly offer your services in return for theirs, depending up the need.

The above are just some examples of benefits of coworking for those who are looking to start a business, it may not be ideal for every startup or entrepreneur, especially those who have sufficient capital or access to debt or equity financing.

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