WeWork’s path to an IPO has launched the coworking industry into mainstream discussion. Coworking as a whole offers a collaborative environment for people from various industries, and now more niche coworking spaces are popping up to accommodate a wider spectrum of entrepreneurs, freelancers, remote workers, and enterprise clients. But is this work solution for everyone?
Coworking offers the benefits of an office space, without the long-term commitment and cost of furniture, amenities and utilities.
Coworking also typically provides an open workspace that can actually hurt productivity. Many of these spaces have little private work areas, so finding quiet time to do individual work without the distractions of an open office can be hard.
Cost effectiveness is one of coworking’s biggest strengths as workers can pick from a range of offerings, from a single dedicated desk to a full private suite. But if your budget is strict, it may be best to opt for a workspace that isn’t necessarily on the luxury level.
Networking is another benefit of coworking thanks to the nature of the environment. Many coworking spaces typically hold events, seminars, fitness classes and more that makes meeting others easy.
Additionally, private coworking clubs that cater to specific groups are becoming more popular. Operators like female-focused The Wing provide a sense of camaraderie that can’t be found at just any coworking space.