- Coworking spaces offer small businesses, freelancers, and other professionals a productive environment to complete their tasks, expand their networks, and become involved in their local business community.
- As of 2022, there were more than 6,200 coworking spaces in the United States — giving more than one million people a space to work and collaborate.
- This industry is still recovering from the pandemic, but its uptick in popularity is undeniable and it will continue to see growth.
Coworking is a non-traditional way to work, allowing individuals to work independently or collaboratively in a shared office space.
The modern workforce increasingly prefers coworking spaces, which offer cost-efficiency, flexibility and valuable networking opportunities.
Small business owners and entrepreneurs — who may not be able to afford a full office and its amenities — can find an ideal workspace solution in coworking spaces. They provide a range of services, along with fully-equipped workspaces and amenities, meeting rooms, high-speed internet, and more.
“What was relatively an unknown concept 10 years ago, coworking spaces have transformed the way the modern worker interacts with the business world,” according to the U.S. Chamber of Commerce.
When did coworking spaces become more formally known?
In 2005, entrepreneur Brad Neuberg first used the term “coworking” in relation to a shared office environment.
It resulted in the establishment of the San Francisco Coworking Space — accessible only on Mondays and Tuesdays within Spiral Muse (a feminist collective located in San Francisco’s Mission district).
This year, Statista projects that there will be 34,000+ coworking spaces worldwide.
What are the benefits of these office spaces?
- A curated, enjoyable work atmosphere
- Connecting with other business professionals
- Collaborating on independent projects
- Taking part in a community of business professionals
- Pursuing new opportunities
With membership models ranging from daily fees to monthly fees and the option of either a shared desk or a dedicated one, costs are flexible and customizable within a coworking space.
Who do coworking spaces appeal to? Who utilizes them?
Coworking spaces offer small businesses, freelancers, and other professionals a productive environment to complete their tasks, expand their networks, and become involved in their local business community.
Around the globe, a whopping 42% of those who utilize coworking spaces are freelancers. The remaining members typically consist of employees from small startups, established corporations and those working remotely.
Office workers report that their productivity skyrockets when they can switch up their surroundings during the workday. Coworking spaces are ideal for remote workers, giving them the opportunity to leave their homes and enjoy different settings for working.
In North America, more companies are renting out flexible workspaces for their remote workers, while in Europe and smaller towns, freelancers make up the majority of those utilizing these types of shared spaces.
How do I become a member at a coworking space? What’s the cost?
First, look up your local shared workspace that fits your needs best. Applying to be a member is typically very easy — or if you don’t want to be a member, most spaces all you to simply get a day pass.
On average, this is how much a coworking space costs across the 30 biggest cities in America (according to Build Remote):
- For a monthly dedicated desk: $367 (range: $161 – $561)
- For a monthly dedicated office: $682 (range: $448 – $1,298)
- For a day pass: $29 (range: $17 – $41)
What does the future of coworking look like?
As of 2022, there were more than 6,200 coworking spaces in the United States — giving more than one million people a space to work and collaborate.
Around 5 million people will work from coworking spaces by 2024, which is an increase of 158% compared to 2020.
By 2030, the global flexible office market is expected to skyrocket to an impressive $201.28 billion — a staggering leap from the $55.20 billion valuation in 2021.
This industry is still recovering from the pandemic, but its uptick in popularity is undeniable and it will continue to see growth as people increasingly begin to value work flexibility.