Why Coworking Spaces Are Good For Your Business

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It is always sound business practice to keep expenses low, especially if you are just starting. If you need an office or command centre, but don’t have the money or energy to spend on all of the administrative duties that come with running an office, you’ll be interested in the benefits coworking Space. Now let me explain what Coworking means. Coworking is a business services provision model that involves individuals working independently or collaboratively in shared office space. The typical user of a coworking facility is self-employed, a telecommuter, or a freelance worker. If have a business but don’t have money to rent an office

, you can rent a coworking office space, which is cheaper. But know when you should rent it to avoid waisting money.

Let’s assume you got a business deal worth N200,000 which requires you and your client to meet almost every day to implement the project but you don’t have an office, and the project is expected to last for one month, you can rent a coworking space , some are as cheap as 5,000 per month depending on the location. You can renew your office space use if you have more jobs.

Are you wondering where to find co-working space? This kind of facility is only available in the cities like Port-Harcourt, Lagos, Abuja and other business environments. There is a popular Coworking Space called, Workbay, at Ikeja Lagos.

Here are other benefits of Coworking Space.

1. Low start-up cost

Coworking spaces offer freelancers and individual entrepreneurs a chance to work in a fully equipped office without worrying about the costs of setting up an actual office. By getting a shared space, you can operate your business without needing to compute and allocate funds for building rent, fire insurance, office equipment and various other expenses that come with starting a business.

2. Networking opportunities

Renting space in a shared office means surrounding yourself with goal oriented and high-achieving entrepreneurs and business people. This means every day is an opportunity to network with small business owners, great thinkers, professional freelancers and other entrepreneurs.

Being part of a coworking community means you are surrounded by potential partners, clients, and mentors – giving you the ability to easily outsource to great talents when you need help with specific projects or time-sensitive tasks.

3. Avoiding Loneliness

It’s often said the life of an entrepreneur can be a lonely one. Working alone is isolating and can have a negative effect on your mental wellbeing. Interactions in a work environment are an important part of daily life. Though you’ll be working on your own business, a coworking space surrounds you with like-minded people who have picked an independent lifestyle that matches yours. It will leave you feeling energized, social, and happy..

By ENDY EDESON