The office space landscape up until about a decade ago featured probably the most flexible plan in office space possible. Businesses of all sizes and types filled various office buildings across the Australian business landscape through the serviced office industry.
Through technology, businesses were freed from being tied to office formats that in some cases were not necessarily appropriate for the scope and function of the business.
As a result, businesses adopted other formats that allowed them to save money and also allowed them more flexibility in the logistics of running a business.
Whether our lives got busier or we have become more productive, professionals all over the world have been forced to find flexible office solutions in a tech-drenched society that asks us to work faster and harder and without limitation.
As a culmination of all of these events, coworking has been a life-saver in offering businesses short-term or shared dedicated desks in premium places without the price tag and with great flexibility.
Keep reading to see how coworking has given businesses great flexibility in functioning in Australia’s expansive business landscape.
4 Benefits of Coworking Spaces
#1. Flex-Time Options
Beyond providing businesses with a more inexpensive alternative to conventional leasing, the coworking model has made it possible for businesses to benefit much from a platform that provides flexible hours of operation.
In the standard office model, the building is open between 8 am and 5 pm. However, many coworking spaces across Australia find that busy professionals want access to office space at any time of the day, and in response to this demand, many spaces are open 24/7.
For professionals who want to work during the day when the traffic is low and the space is quiet, they can choose very early hours or late hours to avoid long commutes and the hubbub of the workday. Alternatively, those who thrive in a bustling environment choose to work during peak hours.
Professionals with families might scatter their schedules to coincide with the needs of their children. The point is that the coworking space, in most cases, allows professionals more options in flex-time.
#2. Leasing Terms
Another great benefit of the coworking space is that it does offer some of the most flexible leasing terms in the country.
Many times businesses are only required to commit to a month-to-month contract and initial start-up costs are also much cheaper. Ultimately, getting out of a lease is only a matter of waiting for the month to end as opposed to waiting, in some cases, years for your lease to end.
#3. Work Platform
The work platform, through the coworking space, is also very flexible in that it offers businesses the chance to take care of a number of tasks.
For example, networking is a big part of building a business, and the coworking space can be the prime location for engaging in networking activities. Whether it means introducing yourself to other coworking members at the hot desk or attending community events, the coworking space’s logistics encourages professionals to engage socially.
Then, there are so many opportunities to meet mentors in a work environment that could potentially create partnerships and collaboration opportunities. In essence, the mostly open plan provides businesses with the chance to use space in versatile ways.
#4. Flexibility and Frugality
The coworking space has always been a way for new businesses to fund workspace inexpensively, but as the model evolves, businesses are finding that coworking has created a way for them to run a business in an economy that has become increasingly competitive.
At the moment, most coworking spaces, from the largest to the smallest hole-in-the-wall, continue to add onto the menu of options making each space unique and separate from one another.
This versatile coworking platform has made it possible for businesses to leverage networking and collaboration all for raising their business’s visibility.