Everything You Need to Know About Coworking Spaces
Are you looking for an office space to lease for your new business or are you eyeing another venue for your new branch? Maybe, you’re a freelancer who seeks a work space away from distractions. Whatever your required work setup may be like, you’ll find a solution in coworking spaces.
Shared office spaces or coworking spaces have grown in popularity in recent years, not only in New Zealand but also in other parts of the world. Along with the new breed of working population are the emergence of shared spaces. Gone are the days when the only option was to rent a traditional office and bear the expensive cost that comes with it.
But if you’re in doubt about the coworking space idea especially with the Covid 19 threat, you’ve come to the right place. Prepare to have all your questions answered through this comprehensive article dedicated for coworking spaces.
A Comprehensive Guide to Coworking Spaces
Coworking spaces merge people in a venue where they can perform work–whether with a team or on their own. It creates an arrangement among members of a company, freelancers and even entrepreneurs to be in a work setting that allows sharing of amenities.
Shared office spaces are rented out to function like a regular office but don’t really look like the traditional workplaces. Simply put, a shared office is a laid back work environment that allows collaboration and flexible work setups.
But if you’re in New Zealand, there are specifics that you need to know. Some of the information that can help you have been collated below.
Coworking Spaces in New Zealand: What You Must Know
Shared office spaces have been around for some time in New Zealand. In fact,the number of people renting out coworking spaces grew by 25% in one year, between 2017 and 2018.
Its growth has been more apparent in recent years with more companies moving into the country to explore the coworking market.
Want to know how shared office spaces differ from traditional 9 to 5 offices? Read on to understand the advantages that come with this modern workplace.
Impressive Workplace Design
Some coworking spaces are designed to make a person feel really comfortable in a workplace setting. It is typical to find spaces with elegant interior and finishes. In Auckland, you can compare Alike Shared Space’s architecture to the famous brick buildings in New York.
Complete Office Essentials
If you rent a coworking space, you’ll get all the requisites found in a typical workplace. This means that you’ll have your own office desk and chair, essential office equipment like scanners or printers and even a cup of coffee or tea!
With the desire to establish work-life balance, a lot of coworking spaces have taken the steps to building a community by organizing talks, events and workshops that bring workers together.
The next question that will probably come into your mind is how much does it cost to rent a shared office space?
To answer briefly, the cost of coworking spaces depend on some factors, including location, services, and amenities offered. Generally, the price range in New Zealand varies from as low as $20 to $1,100 monthly.
Certainly, coworking spaces have changed the typical workplace landscape in many ways. If at this point you’re wondering how the popularity of coworking spaces in New Zealand and other countries came to be, read on.
The Key Factors that Influenced the Rise of Coworking Spaces
Big industry players and large corporations in the United States, Europe and Asia have taken advantage of coworking spaces to aid in their business expansion and development.
As one of the recent trends in workplaces, many entrepreneurs aim to attract the new breed of employees that will make up their workforce. Aside from talent acquisition, coworking spaces also play a role in retaining their employees.
Real Estate Opportunity
Developers have seen the versatility that coworking spaces allow. It has found its place in real estate projects especially as landlords see the opportunity to make a profitable venture out of shared spaces.
The rise of freelancers have also contributed to the popularity of coworking spaces. It offers freelancers a space that allows privacy and away from the distractions that interfere with their productivity at home.
Companies are driven towards dynamism and innovation as these enable them to compete with global brands and allow their businesses to thrive. Coworking spaces serve as a smart option that helps them foster innovation in order to achieve their business goals.
Sure enough, a lot of companies, as well as freelancers, all over the world already gave in to a coworking space setup. But of course, if you are just making the switch from traditional to modern, you might need further convincing.
To help you, outlined below are all the important reasons that tell why a coworking space works and why it could be the best decision that you need to make now.
13 Reasons Why Coworking Spaces Work for Freelancers and Businesses
1. It Allows Social Interaction
Social interaction affects productivity and it could be necessary at times. The interaction in shared offices influences workers to be more productive and even creates a mood that makes it easier for work to be done. However, post-COVID-19, this may not be the benefit that will appeal to you the most–and that is totally understood. But, provided that strict health and safety measures will be in place, the atmosphere in a coworking space is still something to look forward to.
2. It Protects Family Time
There’s no reason for work to interfere with family life even when you’re a freelancer. Admit it, when working at home you tend to focus on your work too much. There are also times when you’d feel the pressure to be more productive and on top of your game to the point of sacrificing family time.
3. It Creates a Sense of Belongingness
Freelancers work alone most of the time. For someone who doesn’t like the idea of being isolated or values being part of a team, a space in a shared office makes a difference. It is a venue where one can feel a sense of belongingness by being surrounded by people who come to the place to accomplish their tasks or works. It’s like making one a part of a community where they can interact, engage, and exchange ideas with like-minded people.
4. It Eliminates Distractions
One of the reasons why work from home setups fail is distraction. From dogs to children or even the noise from your neighbors–all of these affect productivity somehow. Unlike real office settings, the ideal work atmosphere that your home cannot provide can be achieved through a coworking space.
5. It Influences Success
Although freelancers work on their own, the atmosphere in a shared space can influence a person to be on their toes and fully make use of their talent, knowledge, and skills. In the end, a person who works in a coworking space experiences self-fulfillment and increases their chance to succeed as a professional.
6. It Inspires Mentorship
In a coworking space, freelancers are able to interact with other professionals and even entrepreneurs. It creates a platform where one can collaborate with others with similar goals and those who experience similar life challenges. It is where one can find people who went through similar struggles and successfully overcame them. These are also the potential mentors who are willing to groom professionals and guide them along the way.
7. It Cuts Cost of Running a Business
Startups and small businesses are spared from the expensive cost of having a fully equipped office. Shared spaces are equipped with office essentials. Even with minimum investment, a business can operate and maintain a team as they don’t have to worry about putting up their own office and filling it up with amenities to make workers comfortable and productive.
8. It Allows Flexibility
With a shared space, there are no strict rules to follow. Basically, a part of your team can work wherever they desire. Apart from that, a company owner is able to easily scale up their business as needed especially when there is a need for the team to grow.
9. It Supports Networking
In a setup where people from various industries are able to interact with each other, the opportunity of networking also emerges. In a shared space, companies with outsourcing needs get to meet great thinkers and talents that can be of help to their business in the future.
10. It Opens Room for Business Growth
In relation to networking, being in a shared office space also increases the potential of a business to grow. A workplace setting that connects you with other people from different industries also allows sharing of ideas that may help you in developing a strategy for business expansion. It will also be possible to find a business partner from the people you constantly interact with.
11. It Connects Businesses with Potential Clients
One of the best advantages of coworking spaces is the opportunity it creates for businesses to actually be working side by side with their potential clients. If not directly, the people working in coworking spaces can actually point you to clients that may be interested in your services or products.
12. It Promotes Work-Life Balance for Employees
A toxic work environment impacts the performance of employees and it will also affect overall productivity which a business has to bear. However, this wouldn’t be the case when in a coworking space. Usually, shared spaces offer recreational facilities to help employees de-stress in between work so that they can be free from boredom and break a monotonous work cycle. While these benefits may seem employee-focused, the end results have the business on the winning end.
13. It Sets Your Business Address in a Prime Location
Starting a business and wants to be where big companies are also located? Choose a coworking space. Most shared spaces are located in a prime location or in a central business district. Location has an impact on how a business is perceived by its target market and employees. In addition to that, coworking spaces in premium locations also benefit from regular community events that allow members to freely access programs as long as they are a part of a shared office space.
Ready to venture into the world of coworking spaces? Whether you’re an entrepreneur or a freelancer in New Zealand, here are some tips to guide you.
What to Look for in Coworking Spaces in New Zealand
Convenient Location – Just like when looking for a place to work, location is a primary consideration. It can have an impact on your spending. At the same time, it can also affect the amount of energy you can still devote after traveling to work.
Fair Rental Cost – Some coworking spaces come with a high price so this is an important factor you need to check. As always, you have to consider quality over cost as that would mean making the most of a shared space without being burdened with the expensive cost of rent. On the other hand, it could also mean paying low rentals but lacking the amenities that other shared offices have.
Flexible Terms – Do you plan to rent a coworking space for a long time or for just a short period? Make sure to check the rental agreement and look for flexible terms. You wouldn’t want to get a space that doesn’t meet your desired timeline as this could lead to problems in the long run.
Reliable and High-Speed Internet Connection – This is an essential in every workplace and since you will be sharing the Internet with others, you ought to find a shared space that can offer uninterrupted and fast Internet connection.
Good Space Layout – Never disregard the space layout of coworking spaces as it can affect collaboration and productivity. You can also check the availability of meeting rooms, pantry or cafe because that would give you an overview of how you or your team will function without hindrance.
Dedicated Maintenance and Management – Another thing to check for the availability of maintenance personnel in the shared space. For sure, you wouldn’t want to end up dealing with equipment problems on your own when you’re supposed to make the most of your work hours. A maintenance person is a good sign that the coworking space is well-managed and maintained so you wouldn’t have to worry about cleanliness, noise levels, and even office temperature.
Sufficient Facilities - It matters to find a coworking space that makes available the facilities that you normally use–after all, this is one of the perks of working in one. With all your essentials in place, there is no reason for your work to be interrupted or halted thus helping you to be on top of your productivity.
COVID-19 Safety Compliance – As the new norm emerges due to COVID-19, it is now essential to find a coworking space that adheres with new sets of rules to prevent possible infection within the shared space. While medication is yet to be found for the coronavirus disease, you should look for shared office spaces with proper ventilation, maximum number of tenants, and sanitary measures to reduce the risk of compromising health and safety.
Coworking spaces have created a huge transformation in traditional workplaces. It opened an alternative way for business owners to run a company. It created a nurturing space that suits the needs of freelancers. In many ways, it answers the call for innovation.
If you are interested in working in a shared space in New Zealand or would like to take advantage of the benefits that come with coworking spaces, contact Alike, a shared office space in the heart of Auckland.
Did you find this information useful? Regularly check out our blog for useful resources and information about coworking spaces.