Over the past year, coronavirus has seen many of us change the way we work, whether it’s our hours of work, the location or work attire. Although, for many people the change of routine, may become their normality, as many businesses plan for life after COVID.
With organizations looking to trim their expenditure, a key factor that many business owners are beginning to consider is the cost of running their office. As workforces have demonstrated their ability to communicate and work from home effectively, many businesses have begun to adapt their plans as a new era of ‘the office’ begins to form.
As a large majority of businesses begin to implement a part-time or full-time working from home policy, the need to find a flexible office space has increased.
A study by Andcards stated that 1,688 global coworking spaces were due to open in 2020. As a result, the coworking industry was predicted to grow by 6.2%. This demonstrates that many organizations are becoming increasingly reliant on these types of offices, as they look for a cost-effective option when needing a professional space.
Although businesses with large teams are using collaborative workspaces. Coworking spaces can often be seen as a workplace for freelancers and start-ups. In truth, this demographic often makes up a relatively small portion of the flexible workplace community. As many businesses are utilizing these facilities to have access to a professional environment, whilst lowering their yearly spend.
There’s a variety of ways that collaborative workspaces can benefit, even more so in a time of a Pandemic. We’ve highlighted four ways that the coronavirus pandemic has shaped coworking spaces, into a popular option for many businesses and freelancers today.
The requirement for flexibility
The majority of businesses were forced to send their workforce home when the news of the pandemic broke. This sudden change to the normal working environment saw many employees begin their year-long period of working from home and relying on technology for collaboration.
During this time, the vast majority of offices remained vacant, which resulted in business owners thinking about their long-term office requirements. As employees demonstrated their ability to work remotely, many CEOs considered adopting this model more often with 47% allowing their team to work remotely full time.
As a result, many organizations began using alternative office solutions to have face-to-face meetings. One solution that is becoming increasingly popular was flexible office rental. By using these facilities, businesses were able to cut costs, whilst having access to a professional environment to host client meetings and interviews, albeit whilst observing COVID safety rules
The go-to option for freelancers
The coronavirus pandemic saw a number of elements change within businesses, some of which were their employees. With businesses facing a financial strain, some organizations were forced to reduce their workforce. As a result, many individuals began freelancing within their industries, which led to an extra 84,000 businesses created.
As more businesses were being formed, the interest in coworking space for rent grew. Freelancers and start-ups needed a flexible place of work away from their homes that offered the benefits of a private office, without being tied down by an office lease and the expense that comes with it.
The opportunity for collaboration
As business owners look for flexible office rental, they may have overlooked one of the key features to consider. Parallel to being a cost-effective option, many shared office space companies offer the opportunity to collaborate with other members of the business community.
Using these facilities opens a wide variety of opportunities for members of this community. As freelancers and businesses share communal facilities, it allows for collaborative conversations to take place. Due to the flexibility of office rental, each week can see a high volume of different businesses come together, that wouldn’t normally cross paths. This gives both freelancers and businesses the opportunity to grow their client base.
The cost-effective choice for many businesses
The past year has seen many organizations search for coworking space for rent as flexible office rental has proven to be hugely cost-effective, due to only paying for the time you use the facilities. Additionally, unlike the traditional office, businesses don’t have to worry about the cost of purchasing or renting furniture, or the expense of IT infrastructure, which can often add to the large budget needed to maintain a private office.
Alongside cutting costs for equipment, by using coworking spaces, businesses have been able to save money and stabilize their finances. This is due to only having to pay for office space when meeting clients and hosting team meetings.
Are you thinking about your return to the office?
If your team is due to return to the office in the coming months, or you’re looking for a better finical solution for your business then. With a flexible desk and office rental, there’s a range of options available for every member of our community. Whether you’re a freelancer looking for space away from your home, or a larger organization looking for a part-time meeting space, our modern facilities can accommodate your needs.
Author Bio
Sarah is a marketing consultant at Agora, a leading office and conference room rental in Southampton. Her extensive experience in marketing and promotion of flexible office space businesses has helped her clients to flourish.
