Startups often thrive on stress, caffeine, and tight deadlines, and the innovation these bring. While throwing numerous startups into a hot-desk shared space might sound like a recipe for disaster, it’s actually quite the opposite.
Coworking spaces specially designed for startups are perfect for fostering innovation by providing the resources and relaxed atmosphere (sometimes including beer) necessary for success.
STARTUP COWORKING SPACES: REVOLUTIONARY OFFICE WORKING
So how can they help startups get ahead of the game? Simply put, a coworking space provides office space, resources, and a social meeting place for new companies.
Granted, this might mean sharing a desk with a napping worker or waiting for someone to finish shaving in the bathroom, but such is startup life!
Alongside startups, a successful coworking space houses investment funds, accelerators, educators and mentors – all the tools companies might need to get a boost.
WORKING TOWARDS SUCCESS
The pandemic changed many workers’ attitudes towards their jobs and future. Fewer of us are going to offices, and the time off gave many the kick they needed to launch their own business.[i]
So how do coworking spaces feed into this growing startup presence?
Coworking spaces foster innovation and growth. Startups begin with a good idea but often need guidance in the early stages to convert this into a solid business plan.
Well, this is where coworking spaces come in. Whether it’s rubbing shoulders with other startups, taking advantage of on-site educators, or simply getting business advice from an investor, coworking spaces collect like-minded individuals under one roof.
ACCESS TO FACILITIES
Startups often don’t have the capital to invest in all the resources they need for success. Coworking spaces address this by providing Class A facilities, including:
- Tech rooms (podcast, video studios, etc.)
- Computer facilities
These spaces also provide things startups might overlook in the early stages that aren’t directly linked to success, but rather worker happiness. Take, for example, on-site parking, healthy catering facilities, and, of course, access to the best conversation facilitator – great coffee.
The most obvious benefit for startups is the cost-saving potential coworking spaces offer. Startups exist on a shoestring budget, and having access to a fully formed office space for less money is an attractive prospect.
In fact, working in this way can save startups at least 30% in operating costs.[ii] Flexible leases and payment options are ideal for desk-hopping companies trying to thrive on next-to-nothing.[iii]
COWORKING IS THE FUTURE OF INNOVATION
The more human elements aside, coworking spaces are great for productivity and innovation because they have all the facilities and education a young, plucky company might need.
Coworking spaces can quickly become a second home for startup workers, so expect to see gallons of coffee, a constant supply of takeaway food, and probably plenty of tooth-brushing in the toilets!