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Should your small business consider using a coworking space?

coworking space
coworking space

If you manage a small business, then you will understand the challenge of transitioning from your kitchen table to a more professional setting – like an office. 

Perhaps you have started to work with business partners or have employed your first couple of staff members. Whatever your situation, it is important to find an environment that suits everyone associated with your small business – from your employees to your investors and customers – without breaking the bank.

In fact, this final detail is worth considering properly. Although you will be eager to make your business look more professional, impress your clients, and give yourself a step up from working at home, moving straight into a commercial real estate contract could put you at risk of overreaching and landing you in debt.

The cash flow within a small business can be inconsistent, which is not ideal if you have imposing overheads demanding payment at the end of each month. 

This is why coworking spaces are such a useful alternative. They may not be a long-term option, but they can provide a great stopgap for your small business.

Here’s why:

There are a variety of options to choose from

One of the most useful reasons why your small business should consider a coworking space is that they are incredibly flexible.

For example, your small business might consist solely of yourself, which is where a hot desk could help. When you have a hot desk, you rent a piece of desk space within the wider office, allowing you to be among other small business owners and rent out meeting space when you need it.

Alternatively, you could rent a full-blown office, complete with your own business address and post box. This will be of use if you have started building a small team and require additional space to meet with clients.

You can find out more about coworking spaces at ​​The Brew.

You can network with other business owners

Another compelling benefit of coworking spaces is that they can help put you in direct contact with other small business owners.

This is because you will be working shoulder to shoulder with countless other people, whom you can speak, collaborate and share details with. Perhaps there is a web designer on your desk who can help improve your website, or there is a potential client working in the office upstairs.

Whatever the case, coworking spaces are buzzing with networking potential, which is in stark contrast to the isolation of home working. 

It gives you somewhere to greet clients

When you run a small business, it can be difficult to present a professional front at first. While remote working has helped with this, there is no substitute for an in-person meeting if you are pitching or touching base with new and existing clients.

Although renting a huge amount of office space may be irrelevant to you at your current stage, having a meeting room in a coworking space you can use will give you an all-important professional image, as well as an interruption-free place to talk.

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