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What is Co-working Space? Everything you need to know

Co-working is the perfect way to offer the flexibility that’s so often required in modern day professionalism. But what is co-working space and how can it help your business? From the benefits of co-working space to learning what it includes, find out all you need to know about co-working spaces today.

What is co-working space?

Coworking spaces are essentially shared workspaces. They are used primarily by professionals who require office space at an affordable price. People are often drawn to using co-working spaces to avoid the isolation of working in coffee shops or working from home, as these spaces offer a co-working community and hub for likeminded people to work in a professional environment. Co-working spaces are perfect for small businesses, freelancers or new start-ups.

Benefits of co-working spaces

As well as escaping the isolation of working on your own, there are benefits of co-working spaces that should be considered when looking for new office space. Some of these include:

  • Cost – choosing a co-working space instead of forking out for a fully-fledged office can save you hundreds of pounds in the long run. With contracts from as little as £175pm, compared to the bills and rent you’d pay out for an office, it’s worth considering co-working spaces for your business from a financial perspective.
  • Networking – surrounding yourself with like-minded professionals puts you at an advantage for networking. Having other start up business founders or freelancers around you can create advantages – especially if in a similar industry.
  • Flexibility – most co-working spaces offer flexibility without the commitment of long-term contracts, allowing you to tailor-make your business and not feel trapped to limitations of an office space.
  • Services – have the satisfaction of being able to turn up to work in an environment that caters for your professional needs without the hassle of having to purchase furniture, equipment and more for yourself, as you would in a rented office. With coworking spaces, all the technical problems, operative and administrative tasks will be handled by someone else – leaving you more time to get on with your work.

Disadvantages of co-working communities

As with everything, there are pros and cons of co-working spaces. However, what disadvantages there are can be easily resolved:

  • Brand expression – it can be argued that without a leased office, you don’t have the opportunity to express your brand e.g. painting the walls, customising the office, putting your stamp on it. However, as a new start up, well-decorated offices do not represent you – and co-working spaces may be much more financially beneficial for the meantime.
  • Distractions – co-working spaces can often be quite sociable, and this may not suit your business needs, for example, if you need to take multiple sales calls and you need to concentrate. However, if this is the case, we offer private rooms for hire. Either use the breakout area or our basement bar to take private phone calls in – and we also have private office space, too.

What do you need in a co-working space?

For a successful co-working community to exist, there are certain criteria that need to be put into place:

  • Location – as a hot-desker, you’re likely to look for a co-working space which has great travel networks so you can reach it easily, surrounded by shops, bars and restaurants, and is a hub to meet clients or customers easily. That’s why, nestled in the heart of Birmingham city centre, our co-working community is the idyllic location for your co-working requirements.
  • Comfort – as well as having a good old comfy office chair and a place to work, this can also refer to amenities and services. For example, at Grosvenor House, services include superfast broadband, secure storage, unlimited use of printer and scanner, exclusive kitchenette access and more.
  • Ability for privacy – as previously mentioned, we have multiple areas to take private calls, such as break-out areas, the basement bar 11 or private office spaces.

Why choose co-working spaces with Grosvenor House?

Here at Grosvenor House, we offer flexible and spacious shared office space in a prime central Birmingham location – St. Paul’s Square, the Jewellery Quarter. Classically Georgian with a contemporary twist, find 5* tailor-made solutions with no long-term contracts from just £175pm. Learn more about our co-working spaces in Birmingham today.