Maybe you’ve outgrown your kitchen table, put on your first employees or just sick of the dog barking every time you’re on a call. Whatever the reason, it might be time to shift your business outside the four walls of your house.
When it comes to choosing the right workspace for your business, there are many factors to consider. While traditional offices have been the norm for decades, coworking spaces have become increasingly popular in recent years. Let’s explore the pros and cons of each, and help you decide which is better for your business:
Pros of Coworking Spaces:
· Affordability: Coworking spaces are generally more affordable than traditional office spaces. This is because the cost of renting a coworking space is shared among multiple businesses, making it a more cost-effective option.
· Flexibility: Coworking spaces offer greater flexibility than traditional offices. Many coworking spaces allow businesses to rent open plan or office space on a short-term basis, which can be useful for startups or businesses with fluctuating office space needs.
· Networking opportunities: Coworking spaces provide a great opportunity to network with other business owners and entrepreneurs. This can lead to new business opportunities, partnerships, and collaborations.
· Amenities: Coworking spaces often come with a range of amenities such as high-speed internet, printers, conference/meeting rooms, zoom rooms and a central business address, which can be useful for businesses that do not have the budget for these amenities on their own.
Cons of Coworking Spaces:
· Lack of privacy: If you opt for an open plan desk over an office, it goes without saying that this is a shared space, which means limited privacy. This can be a problem for businesses that deal with sensitive information, although meeting rooms are available for confidential conversations.
· Limited control: Businesses do not have complete control over the coworking space in terms of décor, layout, amenities, and some operating requirements. You may have to adapt to requirements set by the coworking space management; but talk to them first if this presents a problem.
Pros of Traditional Offices:
· Privacy: Traditional offices often offer more privacy than coworking spaces.
· Control: Businesses have complete control over their own office space. You can customise the space to fit your specific needs and have greater control over the environment and amenities.
· Branding: With signage, traditional offices can provide a greater physical street presence.
Cons of Traditional Offices:
· Cost: Traditional offices can be expensive, especially for businesses that are just starting out. They require significant investment in real estate, equipment, and maintenance.
· Limited flexibility: Traditional offices are less flexible than coworking spaces. Businesses that sign a long-term lease may find themselves stuck with a space that no longer meets your needs.
· Isolation: Traditional offices can be isolating, with employees only interacting with their colleagues. This can lead to a lack of diversity and new perspectives.
Both coworking spaces and traditional offices have their pros and cons. Ultimately, the decision comes down to the specific needs of your business. If you are a small business looking for affordability and flexibility, a coworking space may be the better option. If you have sensitive information and full control over your space, a traditional office may be the better choice. It is important to carefully consider your options and choose a workspace that meets your specific needs and aligns with your business goals.
If your ready to have a look at coworking you can book a tour at Platypus Coworking, if you aren't looking in Ballarat you can check out lots of different flexible office space operators via Flexible Australia Association workspace directory.