Here’s a figure to wrap your mind around: there are more than 100 million start-ups opened globally every single year.
That may be attributable in part to the fact that technology has made the idea of starting a business more accessible than ever. In fact, in 2016, a whopping 69% of U.S. entrepreneurs started their businesses at home.
But for whatever the reason might be that they were started, those businesses are eventually going to grow beyond the limitations and capabilities of home offices. And when that time comes, they should be moving to coworking spaces.
Why?
1. They’re Extremely Cost-Effective
First thing’s first. Let’s consider some of the overheads associated with running a start-up:
- One of the most expensive start-up costs is payroll, averaging around $300,500 for fives employees in the U.S., according to Smart Asset
- Equipment costs for start-ups can range anywhere from $10,000 to $125,000, as per Fundera
Safe to say it isn’t cheap to get a business off the ground. And when you take into account the fact that the most popular method of financing start-ups in 2018 was personal funds, at around 77%, it becomes clear that any opportunity for these businesses to save money would be welcomed.
At a coworking space, you’ll find competitive pricing on everything from coworking desks to private office spaces, meaning you can allocate those extra funds to what matters most: investing in your business.
2. They Offer Flexibility
Beyond just finding competitive pricing at a coworking space, you’ll also find flexibility — a commodity for start-ups that are often in a state of rapid growth and may also be liable to need to downsize unexpectedly.
As opposed to traditional office leases, which will lock you in for long fixed terms, coworking spaces offer you the flexibility to alter your membership to fit the needs of your business.
Are you growing from a few desks and you need a private office for your team? You can get it all under one roof. Growing your team and need a bigger office? No problem.
As a growing business, the last thing you need is to be confined by your office space.
3. They Offer a Professional Workspace
For those entrepreneurs who have been used to working from their home office, a coworking space can offer them a boost by letting them level up to a more professional workspace.
Being in an environment where you’re surrounded by like-minded professionals can make each day even more inspiring.
And if you’re welcoming new team members or having clients or customers in for meetings, the vibe at a coworking space can convey the image that your business is established and professional.
4. They Provide Ample Opportunities for Networking
Unlike traditional offices, coworking spaces are community-based and extremely interactive. That means they offer a ton of valuable networking opportunities that can provide added value for start-ups.
For example, at The Post Workspaces, we offer a Member Portal which allows you to:
- Create and customize your company and personal member profile
- Upload your business logo and/or a professional headshot as well as add in additional information about what you do or what services or goods your business offers
- Network and connect with other professionals in The Post Member and community portal
- Join The Post Workspaces community Slack Group
Even in the midst of a pandemic, it’s still possible to partake in valuable networking activities. For more on that, check out our blog post: Networking in a Pandemic: 10 Tips to Continue Making Connections.
5. They’re a Hub of Talents
Coworking spaces are home to every type of business and professional imaginable.
What does that mean for start-ups?
It means easy access to talented individuals who can help them out with any of the million different tasks that they need to get done.
Looking for marketing support? Graphic design? A writer? An accountant? It’s a pretty safe bet that you’ll be able to find them in your coworking space.
And best of all, you’ll be able to meet them in person and get in touch with them easily when you need to.
6. They’re Equipped with Advanced Facilities and Tools
When your business is growing, you need the tools and facilities to support you. And the reality is that you won’t find those things at a coffee shop.
This includes things like:
- Fully-equipped meeting rooms
- Printing and scanning
- Sound privacy for confidentiality
- High-speed, ultra-secure WiFi
- AV equipment
- Mail and telephone services
Coworking spaces offer you the administrative support you’d expect from a full-on office space without demanding that you buy into the traditional office experience.
When the time comes to grow your start-up from your home office into a more professional workspace, you’ll find everything your business needs to thrive at a coworking space.
Are You Looking for Flexible Office Space in Tucson?
If you’d like to learn more about professional flexible office space at The Post, or to book a tour of our space, get in touch with us today.