Co-working spaces are designed to be dynamic by offering functionality and flexibility and are particularly well suited for companies and entrepreneurs who want to grow their businesses.
Linda Trim, Director at FutureSpace, a co-working joint venture between Investec Property and workplace specialists Giant Leap with two offices in Sandton Central, said: “As your business grows, a co-working office can become a viable option to scale up your team. It gives you the benefits of a fully fledged office at a much more affordable price than a traditional space – typically 25 to 30% cheaper.”
If you need an office or command centre, but don’t have the money or time to spend on all of the administrative duties that come with running an office, these are the benefits co-working offers:
1. Low start-up cost
Co-working spaces offer entrepreneurs and start ups a chance to work in a fully equipped office without worrying about the costs of setting up an actual office.
“By getting a shared space, you can operate your business without needing to compute and allocate funds for building rent, insurance, office equipment and various other expenses that come with starting a business,” Trim noted.
Even if you can afford it financially, the time spent on sourcing equipment and furniture and talking to contractors is a precious resource that should go to building your business.
It is extremely easy to scale up a shared office space as your team grows. Said Trim;”You can tailor your space to suit a one-person business, a team of two, a company of five – or even fifty. And add more space as you go. It’s very cost effective and better than trying to constantly guess what future headcount will be.”
3. Central locations
Good co-working spaces should be right in the thick of business nodes so it’s easy and convenient for your clients to find you. “Renting your own private office may force you to sacrifice location quality for a more affordable monthly. By moving your business into a co-working space, you get an address in the heart of a business district, along with access to transportation, cafés, gym and shopping.”
FutureSpace’s co-working offices are at 96 Rivonia Road and 61 Katherine Street in Sandton Central, Johannesburg and within walking distance to the Gautrain and Sandton City. More FutureSpace offices will open in business nodes across South Africa from next year.
4. Networking opportunities
Renting space in a shared office means surrounding yourself with goal oriented and high-achieving entrepreneurs and business people. This means every day is an opportunity to network with small business owners, great thinkers, consultants and other entrepreneurs.
“Being part of a co-working community means you are surrounded by potential partners, clients, and mentors – giving you the ability to easily outsource to talent when you need help with projects,” Trim added.
5. Promotes work-life balance
‘All work no play’ is a phenomenon you’ll never experience when in a shared office.
“Co-working spaces promote work-life balance by providing social events, coffee bars and gyms to de-stress and recharge during a day of work,” Trim concluded.