Co Working Spaces- New Era of working post COVID-19

Posted by Andrew M on April 14th, 2021

The coronavirus’s sudden rise has resulted in a decrease in market demand and venture capital funding, resulting in a wave of layoffs.  Given that going on vacation remains a huge danger or outright prohibition in most of the world, it's no wonder that Travel & Tourism has seen the biggest drop in income, dropping 70% since the crisis began. The automobile industry saw a 43 percent drop in sales as demand for new cars dried up. 

Economists are debating the fallout that could be close to the 2008 financial crisis or the Great Depression of the 1930s, or anything much worse, as the world continues to reel from the pandemic. Never before has the planet been placed on lockdown, with nearly 75% of the population confined to their homes. 

If the COVID-19 pandemic progresses, there has never been a more urgent need for companies to reconsider and reconfigure their operations to adapt to a changing environment. Now is the time for companies to concentrate their energies on supporting key aspects of their operations to stabilize the new world and plan for the future.

The coronavirus outbreak may result in a slew of changes, forcing many businesses to reconsider their business models. Startups depend on funding regularly, and some may be severely harmed. Coworking spaces are springing up in towns and cities worldwide, thanks to the advantages of coworking, such as versatility, low costs, and low commitment. With a fast Google search, you can find coworking spaces in most major cities. 

Despite the challenges, there is a bright lining: almost half a million new companies are expected to register by 2021. We understand that starting a small business isn't always easy, so we thought it might be helpful to share some benefits of working in a coworking space to help your business grow as we emerge from the lockdown.

A decrease in capital expenditure (as compared to owning your own office space)

Renting conventional commercial office space usually necessitates signing a two- to ten-year contract (five years is typical). In most cases, a deposit is also needed. Breaking out of a commercial lease can be difficult and costly, depending on state or provincial laws and how the lease agreement is structured, particularly if space is not in high demand.

On the other hand, Coworking spaces operate on a pay-per-use basis. The cost of renting a coworking room is determined by the number of seats you reserve. Besides, the majority of coworking spaces have flexible membership options at reasonable rates. For example, Renting coworking spaces in Bromsgrove, UK is as low as £ 20 per hour. It shows, renting a desk at coworking space will be much lower than renting an office space.

Coworking Offers Collaboration and Synergy

One of the reasons why people prefer coworking spaces over home-based offices is to improve and broaden their connections. These shared office spaces will allow you to meet like-minded people who understand the value of a professional office atmosphere for business development, in addition to making you feel like a member of the group.

Access to shared and private spaces

If your business has grown to a significant size, you would prefer to work in a private space. Contrary to popular belief, a coworking room is more than just a shared office space. Private offices are now available in many buildings. For the same monthly fee as if you rented your own office space the conventional way, you would be able to enjoy fully fitted, private rooms with access to a share of facilities you may not otherwise have access to.

Coworking spaces can offer a better work-life balance

Work-life balance is a buzzword that has gained a lot of traction in recent years, and for a good reason. Employee burnout can occur naturally when there is too much time on the clock, resulting in various issues such as decreased productivity, tension, anxiety, and loneliness. 

On-Demand Meeting & Conference Rooms

A well-equipped conference room is a perfect place to gather people to work on a business issue. You physically unite a team of people by removing them from their separate workspaces or the abyss of an open-floor office and placing them in a conference room. 

In the future, more businesses will put a stronger emphasis on business continuity. Companies will be searching for ways to incorporate social distancing without upsetting teams until work returns to a more natural state. Flexible work schedules and shared office spaces closer to the home could be part of the solution.