Coworking is the new ‘it thing’ in cities such as New York, London, Mumbai and many others around the world. With the ever rising cost of prime office space in major cities it’s understandable why this concept is taking off. For those that don’t know coworking is a type of working style that includes a common work setting where professionals have a physical location to meet and work. Most people working in these environments do not work for the same company and are mostly work-at-home professionals or independent contractors.
There are a few items to consider before jumping on the coworking bandwagon. The primary ones being the type of business you run and the number of employees you employ. As counterproductive as it sounds if you are a startup or a new growing business, a commercial lease may be a better option. The reason for this is because you would want to establish and develop the culture of your company in the beginning. This is difficult to do when interacting and working with people that have nothing to do with your company.
If your business is just you, or a few individuals doing free-lance or contractual work then coworking could be a perfect solution. Coworking can also be quite beneficial for individuals that work from home or do work that requires minimal external interaction as it allows them to interact with like-minded folks in a creative space.
With technology now connecting people and businesses from all over the globe, coworking seems more and more like a viable option. The kind of work people are doing these days also allows them not to be constricted to a 9 to 5 office desk. However, business offices and thinking styles have also developed over the years and are now much more liberal than before.