There are many well-known challenges associated with startups. They range from unavoidable financial difficulties to, maybe less obviously, the loneliness experienced within the initial stages of setting up a startup. Typically, startups are very small in size with only a slight network, if any. Whilst being quite socially isolating, problems can also arise from a lack of innovation and motivation. Such complications can be easily avoided by operating in a co-working space.

What the Statistics Say

The statistics alone say a lot about the benefits of co-working spaces. Although a relatively new phenomenon, research has shown that startups who work in a co-working environment are four times as likely to succeed as those who don’t. Additionally, incomes are, on average, 46% higher!  Such positives are also combined with improved motivation, increased levels of interaction and high percentages of supportive teams.

Affordability

Financing your startup becomes a little easier when you choose a co-working space. Being relatively cheaper than hiring an entire office, a co-working space is a simple method of cutting down on costs. On top of this, most necessary amenities (such as WiFi, desks, etc.) tend to be included in the price. This is extremely advantageous, reducing not only costs but also the stress and time involved in maintaining a work environment. Furthermore, renting co-working spaces is easy. You can even hire them for as little as a day!

Networking

As well as being a less lonely working space, the people sharing your office are likely to have their own unique personalities and skills. They will also work in different fields and industries. Free interaction with a diverse group of people enables your network to increase in size. As a result, collaborations increase in potential and new, interesting friends are made. Similarly to Silicon Valley, by working closely with people that have similar aspirations and goals, more innovative ideas are created. This is part of the reason why co-working spaces are considered breeding grounds for new businesses.

Flexibility

Co-working spaces allow startups to focus on new, innovative ideas. They needn’t worry about time restrictions, rigid work hours or noise limitations: instead, startups are given the freedom to work as they please. In addition, the work environment is enhanced with all of the equipment needed and a vast talent pool of people. 

Although quite a new concept, co-working spaces are already considered to be very advantageous working environments for startups. Even accelerators collaborate with their partners to find the perfect co-working spaces to boost their startups to success. For more information on this, visit https://www.amplifi.asia/accelerator.html.

Find out more on http://www.extentia.com/exseed-startup-consulting or contact us for more information http://www.extentia.com/contact-us!

 

 

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