The growth of coworking spaces has been not just noticeable but also phenomenal. How in recent years the shared space industry has surged and became the talk amongst the new and established entrepreneurs is commendable. Many people are choosing flexible spaces for the benefits they bring. Big businesses, small setups and freelancers — everyone is shifting from traditional office and working from home to the shared spaces. An innovative and creative work environment along with an enthusiastic professional community attracts diverse clients to these spaces.
If you look around any coworking office, you will find all kinds of people doing all kinds of jobs. These are the most affordable and effective workspaces one can be at. There will also be employees from various organisations working alongside employees of other companies connecting and bonding.
However, some still think that coworking is suitable just for certain types of businesses and organisations are sceptical about shifting to shared space. It could be the generation gap or just a misconception about coworking spaces that these are more of a chatter house without any privacy.
Here we have a list of common myths about coworking spaces, set by people who never entered one, which needs to be busted.
Myth #1: Coworking is only for startups and freelancers
It is an old belief that shared spaces are mostly meant for independent freelancers and small setups who cannot ‘afford’ traditional offices. But the truth is that shared space has all the facilities that a business might need for daily smooth operations regardless of the size and nature of the venture. Many managed offices claim to support new businesses and the growth of new entrepreneurs but that doesn’t mean they exclude bigger firms from the services.
Myth #2: Coworking spaces are expensive
Another common misconception about coworking space is that it will be a very expensive deal. It is assumed that since there are all the facilities available in the same place, it must cost a lot. But little do they know that these advantages come at affordable prices. The fact is coworking spaces are value for money offices that are accessible to everyone from a freelancer to a big unit. You pay for the membership plan you choose and get started right from the moment you move in. There are also hourly and day plans to start with. You can subscribe to the services when you need them and be the guests for the time you want to. The membership cost will cover all the facilities you will be provided.
Myth #3: Coworking spaces are very noisy
Since various people work in a shared space on different projects and carry out their jobs, there will be regular discussions and phone calls as well. This is like a regular official huddle or chat but followed by a degree of professionalism and concerning the other people working there. Of course, there is never a pin drop silence but it is not noisy in a way that it makes working difficult.
Myth #4 Coworking spaces don’t have the required safety and security
Just like an independent company, every member has to go through a security check before entering the premises. Nobody who has anything to do there will only be attended on the front desk for queries. In fact, the guests of the members have to be informed about it in advance so they can have an entry pass. There are security cameras everywhere and guards on the main gate to keep an eye on what’s happening. The shared spaces are very secure and have all the safety a good workplace must have, thereby busting this misconception about coworking spaces.
Myth #5: Coworking spaces don’t allow you privacy and confidentiality
The meeting/conference rooms are present in all the shared office spaces so the members can have their important chats over confidential matters. You also get access to the lockers for priority and private documents. The Wi-Fi login and security code is different to everyone to protect them from any kind of data leak. Private cabins are also offered to those who wish to sit and work separately from the crowd. Keeping client’s information and data safe is one of the goals of a coworking space and they take proper steps to ensure it.
Myth #6: Coworking demographic is only millennials and young professionals
A lot of experienced people believe that shared spaces are mainly for the new generation who wish to socialize, have fun at work and don’t take the workplace seriously. The fact is that the average age of clients working from a coworking space is 36. A big number of the co-workers are between 34 to 39 years of age and this doesn’t make it just for the “young people”. Not just the age varies but also does the nature and kind of work. Sure, coworking attracts the millennial crowd, but they are also very serious about the business and mind all the workplace etiquette.
Myth #7: If it’s about renting an office space, why not hire a traditional office?
People also think that it is just about hiring/renting space so why not the conventional offices. Leasing a traditional office requires a long term contract thus, blocking funds. A business may or may not grow, or stay in the market as expected. Coworking spaces give you the liberty to choose from the smallest of the plans. You can hire the office just for a month as well to test the waters. Also, you get every facility that your business might require for its everyday smooth operations. There is no worrying about repairs, bills, furniture or petty things. Just step in and start working.
Myth #8: Coworking may seem unprofessional to clients and business contacts
People have been shifting from coffee shops to shared spaces for their important meetings only because these are professionally managed workspaces and help you with everything a business meeting requires. An equipped meeting room with good furniture, lights, projector, white board, markers, tea/coffee/water supply and above all, the silence you need. The modern and polished spaces are known to impress the prospects and future candidates to join your business. This misconception about coworking spaces is now debunked.
Myth #9: Coworking won’t survive longer
Because they are modern and majorly attract young entrepreneurs, people have this myth that the shared spaces will not survive in the market for long. On the contrary, it is because of these coworking spaces that businesses are thriving in these tough times. The affordable places are accessible to everyone who wish to start their own venture or expand it without having to worry about investing a fortune in commercial real estate. Since the coworking industry has countless businesses and entrepreneurs dependent on them, it is definitely here to stay.
We busted nine major misconceptions about coworking spaces that people generally have about them. This is mainly from people who never tried or even stepped into a coworking space. It is time to have an open mind and accept services that are modern, and believe that good things can be ‘affordable’ as well. These spaces are known to be home to many new ventures and adapt them as per the client need.
These flexible spaces have been helping businesses for years now and it is time we must accept them. Now that all the myths have been debunked, feel confident to go for a shared space. Book a tour with Let’s Connect India and pick your membership plan!