Australia's urban centres have given birth to a rising number of startups in the last few years. Cities like Melbourne, Sydney, and Brisbane have seen a surge of new businesses crop up in response to economies that promote and encourage industry. One of the central reasons that startups find the city more amenable to beginning a venture has to do with the variety of office space options available to businesses.
In addition to the standard serviced office, businesses can find themselves fit out in a virtual office or a coworking space. Coworking, more specifically, provides businesses with affordable office space and the opportunity to build their business through the many opportunities to network. For the fledgeling business, coworking provides them with a variety of benefits.
Continue reading to learn about the variety of benefits of coworking for startups and how this office solution is advantageous to your business.
Cost-Effective Solution To Office Space
Shared space has been around for a while, but coworking is different in that it alleviates the hassle of having to pay so much in overhead every month. As opposed to leasing the entire office, typical coworking spaces provide businesses with the use of office space. Businesses save money because they do not pay for furnishings and office equipment nor do they pay for utilities and internet, as it already is included in the bill. Take a look at the Servcorp Australia’s website at http://www.servcorp.com.au/en/coworking/ to see the cost of one type of plan.
Flexible Leasing Terms
Another great benefit of the coworking space to the startup is it provides your business with some of the most flexible leasing terms. Most conventional leases ask businesses to commit to a protracted term, and for startups, they have not been established long enough to know whether being in the area would benefit them. Coworking leases are more flexible, many of them offering leases as short month-to-month. In addition, the initial startup costs tend to be a little lower as well.
Space’s Dual Function
Because the coworking space functions much like a community, it can be used for both working and networking. Businesses are provided either a hot desk or a dedicated desk where they can work. However, the usual setup creates many opportunities for professionals to engage with each other throughout the day, whether working at the hot desk or working at the dedicated desk.
Visibility For Your Business
Through networking and collaboration, your business can raise its profile in the coworking space and the business community. Really good coworking spaces provide businesses with both formal and informal opportunities to engage each other. Informal events like barbecues and social events, in addition to formal events like conferences, provide businesses with the chance to build connections.
These relationships, at some point, culminate in collaboration. The collaboration creates more opportunities for your business to raise your profile in the community. By partnering with other professionals, you can take advantage of getting to know other professionals outside of your industry, which is an important part of creating visibility for your business.
The coworking space also benefits startups because it is probably one of the easiest ways to scale your business up or down, especially if you are leasing with an international service provider. In most cases, you only need contact the leasing office to modify your lease and you can move into a virtual office or serviced office. Of all the reasons, being able to move easily into a bigger or smaller space alleviates a lot of problems associated with finding appropriate space as your business grows.
Stress-Free Leasing Option
Coworking provides startups with office space without having to worry about providing furnishings, support staff, utilities and other amenities. In addition to the logistics of space, coworking allows you to connect with professionals from diverse industries conveniently and effortlessly. Coworking space Australia has ultimately nurtured the startup revolution in urban centres by including community as a part of the workspace.
About the Author
Alexandra Richards is Australian based business consultant located in Melbourne. She takes a keen interest in business structures and work culture. Recently she has taken a particular interest in the benefit of having Servcorp Coworking Space to attract clients in Australia.