Business Workspace: Advantages & Disadvantages Of Co-working Spaces

Business Workspace: Advantages & Disadvantages Of Co-working Spaces August 23, 2017 10:00 AM Filed Under: Co-Working Space, Human Resources, Small Business Growth, Small Business Pulse Shared Workspace (Photo Credit: Thinkstock)   As the workplace changes and transforms, co-working has become a very popular option whether you are a contractor, consultant or small company. The definition of co-working is sharing a community space with access to a private desk, kitchen, meeting rooms and possibly a reception area for an extra fee. However, one must look at the advantages and disadvantages before deciding to commit to a location, and to working with others.     Upside Co-working spaces offer entrepreneurs opportunities to interact with others and develop professional relationships. Networking, collaboration, meeting potential clients and the chance to engage in informal market research are benefits of using a shared workplace. Founders from Young Entrepreneur Council discussed using a co-working space for an article on Business.com. Sam Saxton of Salter Spiral Stair and Mylen Stairs stated, “Co-working spaces are alive with entrepreneurial spirit, making them ideal sources of inspiration both in terms of motivation and creativity.” Cost and value are also factors to consider. Often not as expensive as traditional office space, a co-working space can be a great option to create a community for you and your employees. Tracy Foster of ONA said, “In a co-working space, there's an opportunity to develop relationships with other small business owners and learn from their experiences. We're constantly meeting and learning from other entrepreneurs in the fashion and tech space.” Although you may be cutting business operating expenses by working from home or working virtually, if you stay within a budget, it could be worth the investment of sharing a workplace with others.   Downside While many businesses enjoy the benefits of co-working spaces, it is not for everyone. For certain tasks and some people, silence is required to complete work. Texts, ringing telephones, conversations and streaming videos are just some of the sounds in a shared work environment that could cause distractions and reduce productivity. “For many people it can be hard to get long stretches of creative, undisturbed work done in a shared work environment, which is why the second stretch of my working day happens when I'm alone and everyone has left the building,” shared Rameet Chawla of Fueled. Your business may also compromise it's protection, as privacy is not always guaranteed. Verbal exchanges and visible computer screens can create security issues for your company and employees. Theft is also a concern, which often includes items such as devices, purses and even food. While many spaces offer locked drawers and desks, sharing spaces have little control over who enters or remains in the space.   Co-working spaces can offer valuable advantages including cost for the right people. Since it is not the only option, pros and cons should be weighed before making any decision.       This article was written by Debbie Hall for CBS Small Business Pulse   Comments Leave a Reply Cancel reply Enter your comment here... Please log in using one of these methods to post your comment: Email (required) (Address never made public) Name (required) Website You are commenting using your Twitter account. ( Log Out / Change ) You are commenting using your Facebook account. ( Log Out / Change ) You are commenting using your Google+ account. ( Log Out / Change ) Cancel Connecting to %s Notify me of new comments via email. Notify me of new posts via email. Watch & Listen LIVE Follow Us OnFacebookTwitterYouTubeInstagramSign Up for Newsletters More From CBS New York CELEBRATING 50 YEARSGet Our Morning BriefsBloomberg WCBS Tri-State Business Index Follow Us FacebookTwitterYouTubeInstagram News New York NewsNew Jersey NewsConnecticut NewsTrafficWeatherBusinessConsumerEntertainmentHealthWatchPoliticsTechnologyLocal Sports YankeesMetsGiantsJetsKnicksNetsRangersDevilsIslandersNYCFC Eat.See.Play EatSeePlayTravelEvents Watch + Listen CBS 21010 WINSWCBS Newsradio 880WFAN Sportsradio 66/101.9Contests & Promotions WFAN Shows Boomer & CartonMike FrancesaJoe & EvanSteve SomersOn-Air ScheduleStreaming Schedule Corporate About UsAdvertiseBusiness DevelopmentContactMobileConnectOnly CBSCBS Radio JobsCBS Television JobsCBS Television Public FileCBS Radio Public File 2017 CBS Broadcasting Inc. All Rights Reserved. Powered by WordPress.com VIP By viewing our video content, you are accepting the terms of our Video Services Policy Privacy Policy Terms of Use Your California Privacy Rights Mobile User Agreement Ad Choices EEO Reports Watch & Listen LIVE Listen 1010 WINS WFAN WCBS 880 WCBS FM 101.1 92.3 AMP Fresh 102.7 CBS Radio Connectingvets.com Watch TV10/55 Live Video WCBS2 Live