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Are Coworking Spaces Worth It? 11 Reasons to Choose Them

Thrive Editorial

Networking and community are part of coworking.

Whether you’re a freelancer, an employee with a work-from-home hybrid schedule, or a small-business owner wondering if a coworking space is right for you — read on! We break down the 11 reasons a coworking space might be the ideal environment for you.

What is Coworking Space?

First things first: In simple terms, a coworking space is an office setting where people from various fields come to work. It’s about sharing infrastructure and reducing the cost of running a business — but coworking spaces are about something more than just lowering overhead. They are also community centers, social spaces, and collaboration hubs where professionals from different backgrounds can come together and share their expertise and unique points of view to find new ideas.

Large companies are also seeing the benefits of diverting to coworking spaces. It helps them avoid spending on unused offices, moving from the traditional business headquarters and embracing a more flexible way of working.

Top 11 Reasons to Consider Coworking Space

  • Increase Tech Capabilities
  • Reduce Home Distractions
  • Access Secure Wi-Fi Network
  • Eliminate Loneliness and Disengagement
  • Mental Health and Well-Being
  • Eliminate Long Commutes
  • Reduce Cost and Provide Flexibility
  • Availability of Meeting Rooms
  • Community Manager
  • Events and Learning Opportunities
  • Stability and Routine

1. Increase Tech Capabilities

Home offices may lack technology such as printers, photocopiers, scanners and video conferencing, as well as access to high-speed internet. Having these on hand at a coworking space increases efficiency while decreasing frustration.

2. Reduce Home Distractions

If you work at home, naturally there will be multiple distractions: barking dogs, crying babies, delivery people, and so many other undesired interruptions. And along with that, WFH employees and freelancers are responsible for their own tech management, such as ink replacement in printers, internet connection issues, etc. All this can be avoided with coworking spaces, meaning professionals can work more productive hours.

3. Access Secure Wi-Fi Network

Larger organizations frequently deploy all of the security measures required to protect their employees’ digital communications, but this isn’t always the case for smaller businesses, freelancers and entrepreneurs. Wi-Fi security features such as firewalls, network activity monitors, spam and malware filters, etc. are offered by coworking spaces like THRIVE | Coworking.

4. Eliminate Loneliness and Disengagement

According to Buffer’s most recent annual report on the State of Remote Work, 24 percent of those who work from home all or most of the time experience loneliness. With coworking, people have the chance to meet with other like-minded professionals frequently, resulting in a level of connection that leads to less loneliness.

5. Mental Health and Well-Being

According to research from Lyra, the number of workers experiencing mental health concerns has more than doubled in the last year. Coworking spaces help reduce these mental-health issues by providing workers with physical venues for collaborative and social contacts, as well as possibilities for physical exercise and other leisure activities. For many businesses and WFH workers, this perk alone may be worth it. Ergonomic furniture is also usually provided in coworking spaces, which can have a major influence on workers’ health and well-being.

6. Eliminate Long Commutes

Coworking space allows enterprises with return-to-work policies an opportunity to preserve an in-office work policy without requiring workers to commute lengthy distances. Long work commutes are bad for the environment (more pollution, greater congestion, etc.), in addition to affecting workers’ quality of life and health.

7. Reduce Cost and Provide Flexibility

Coworking space is less expensive than a permanent, fixed workplace. Businesses and professionals can choose to use a coworking space on an as-needed basis or to rent space on a short-term contract. Compared to traditional offices, coworking spaces are not only cheaper, they help companies retain and attract talent, while increasing efficiency.

8. Availability of Meeting Rooms

Meeting rooms are also available at coworking spaces. These can be reserved on demand and utilized for meetings with clients, partners and customers. They also include cutting-edge video conferencing and collaboration technology.

9. Community Manager

THRIVE | Coworking spaces are headed by a Community Manager who knows the facilities inside and out — where the best eateries are, parking logistics, how to use the administrative services provided. They also schedule events and activities, including THRIVE’s monthly catered breakfasts, lunches and happy hours.

10. Events and Learning Opportunities

Most coworking spaces include an extensive calendar of events and learning opportunities. These range from networking happy hours to workshops during the lunch hour, wellness programs (yoga, mindfulness, etc.), and expert-led short conferences. These gatherings are an excellent way to network and learn about new trends or skills.

11. Stability and Routine

The ability to create your own remote work schedule, work in multiple time zones, and find out how to combine productivity and motivation might be intimidating at first. But if you’re a freelancer, entrepreneur or digital nomad, going to a coworking space provides structure, routine and focus.

Written by Thrive Editorial

July 7, 2023

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