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Coworking Spaces – what is it, who use it…where to find it

1.7 Million Members Will Work in Coworking Spaces by the End of 2018. Millennials, who will make up 75 percent of the workforce by 2030, crave these open, flexible work formats

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Coworking spaces are essentially for-rent office spaces, available for individuals or small companies to use as they would any other office. Coworking spaces are normally accessible 24/7.  In exchange for a membership fee, the worker gets access to workspace, meeting rooms, public kitchen space, restrooms, Wi-Fi, colleagues… sometimes and a free coffee.

Co-Working Centers Are Becoming Increasingly Popular

According to estimates, 1.7 million people will be working in around 19,000 coworking spaces around the world by the end of 2018. Contrary to the expectations from last year, the share of new coworking spaces didn’t decline. 29% of all coworking spaces were opened over the last year – almost the same ratio as in 2017.

On average, a coworking space today is serving 82 members (+11%). If you take into account the extreme upwards and downwards outliers, then the average doubles. 

Coworking spaces have become a large and growing part of the modern work landscape. They offer resources and infrastructure to a generation that, increasingly, makes their living outside of the traditional office. In return, they’ve also begun to change how companies and freelancers do their business. Who uses coworking spaces mostly?

  • Freelancers

Always on the go, freelancers can sometimes find that the lack of a proper office space hinders their productivity. In addition, working alone on the road or at home can get boring.

This is where coworking spaces come in– they provide a community of coworkers, office facilities like printing machines etc.

  • Startups

The collaborative spirit and relatively lower costs (as compared to a traditional office) of coworking spaces attract many startups. All around the world, startups house their teams in coworking spaces, where they get to network and grow, especially with the wide range of events that many spaces host.

  • Corporations

Established brands that value the community that coworking spaces have may also set up their office in coworking spaces, or allow their employees to have flexible working arrangements, and they can then work out of coworking spaces when they are out of office.

Also, some companies are hiring contingent workers like freelancers and part-time workers over traditional employment. An Intuit report predicts that this trend might become the norm by 2020, with “more than 80 percent of large corporations planning to substantially increase their use of a flexible workforce”.

  • Non-profits

Coworking spaces are also perfect for non-profits as they offer lower rental costs, a collaborative environment where non-profits will have opportunities to meet startups and people who may be able to offer their expertise, as well as all the facilities that traditional offices have.

Many coworking spaces these days are offering interesting amenities to entice new members. Some of them are woman only, others have yoga classes or if you prefer body balance, Arabic calligraphy training sessions, arcade games and gaming rooms, bar’s with happy hour, mini gym space, even pool! Want more?

Well.. we are going to introduce some of them to help you do your business no matter where you are. Stay tuned.

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