With over 4.8 million freelancers, contributing over £250bn to the UK economy – it is clear that the self-employed nomad is the future of the British workforce.
As this number grows, as does the demand for coworking offices. In fact, it is estimated that there are now 26,000 globally. In central London alone, flexible workspaces occupy 10.7 million square feet of space.
But what is compelling freelancers and entrepreneurs to leave the comfort of their own home to work amongst these communities?
Whether you prefer the structure of a 9 to 5 day, or you’re more of a night owl who works efficiently in the early hours, most coworking spaces are open 24 hours 7 days a week. This gives you the freedom to choose when to work.
Moving your work into a serviced office space occurs immediately after signing up – in contrast to a conventional office, where the transition period of relocating can take anywhere between a week and a month, depending on the size of your company. If you’re running a small business and operate in a team, coworking spaces also give you flexibility for future expansion.
The isolation of working from home can often result in a lack of motivation, thus diminishing creativity. By engaging with a coworking community, you can make new contacts, forge new friendships and find inspiration in other professional entrepreneurs.
With a focus on growing their own businesses, members tend to be less distracting. Working alongside other motivated individuals has been proven to fuel your own commitment, with 71% reporting a surge in creativity since joining a coworking space.
Community is intrinsic to the success of a shared office and most offices realise that cultivating this through various networking opportunities is absolutely essential. From themed events to standard social gatherings, 52.6% have agreed that their coworking space has helped them to make friends.
If you live in the countryside, or even the city centre, at some point you’ve undoubtedly endured a temperamental internet connection. By operating from a coworking space, you’re ensured a seamless and strong WiFi network – allowing you to upload and download content with the utmost ease.
Starting out on your business can be costly; ideally every last penny has to go into company growth. Shared offices have their own administrative structure, eliminating the concerns of having to pay for a cleaner or a receptionist; thus, allowing you to focus on what’s necessary in enhancing your start-up.
Coworking doesn’t just save you money – it also saves you time. Searching for a new janitor, dealing with internet service providers, organising office maintenance, even cleaning the dishes daily can amount to hours. Coworking allows you to spend more time at your desk concentrating on your clients.
Conceptually, coworking spaces are as environmentally-friendly as you can get. One of the fundamental components of sustainability is that the shared use of resources diminishes an individual’s carbon footprint. Much like carpool or public transport, a shared office prevents unnecessary waste, by uniting people under one singular roof.
A domestic refrigerator alone consumes 495wWh of electricity each year – with coworking, the singular set of utilities accounts for the various members. Being utilised by a larger number of people; these shared appliances will actually give back what they consume in energy.
In essence, coworking represents a complete revolution in the office asset management space. Seen as a convergence between office and hospitality; shared workspace is becoming a swift way to drive performance across assets.
With over two decades worth of expertise in the field of strategic asset management, TargetFollow are entering the realm of coworking. The goal is to provide a stylish, streamlined, environmentally synchronised service – further enhancing the value of an already impressive portfolio.
This new exciting concept in coworking, entitled; CWRK – offers the ultimate shared office experience in the heart of Ipswich town centre for only £50 per month. With superfast wifi, unlimited tea and coffee, access to meeting rooms and more – all available 24/7, with no contract or hidden charges.
Opening May of 2020 – visit CWRK’s website for more information!