As a small business owner, you might have heard the term ‘Coworking’ mentioned by your peers, but do you know what it is all about?
In 2018, an estimated 2,188 spaces were opened worldwide and this number is set to reach 25,968 by 2022, an increase of 42% from 2019!
What is Coworking?
Coworking spaces are a big deal in the larger cities, but in smaller towns and rural areas fewer people have had interaction with Coworking spaces and many don’t really understand how it all works.
A Coworking space is more than just a shared office – it is a community, usually comprising of startups and freelancers. They are an inexpensive way to present a professional image for your small business, with the use of a corporate address and a place to take clients without the financial commitment of a long office lease.
Hot Desking
This is one of the options we offer at The Small Business Academy. Costing just £50.00 per month, you will be able to access our space Monday to Friday 9-5pm for 8 days per month. Full use of our Peel House address is included, which can be used on your marketing materials and for Companies House, and during your 8 visits you have unlimited access to our Premium coffee machine and meeting room for up to eight people.
This is an ideal option for part-time workers, or those who just want an inexpensive way to make their business appear more professional with the option of dropping in now and again to spend some time with like minded business owners and a change of scenery, but are happy working from home the rest of the time.
With contracts running on a 30 day notice period – you can be assured that if your circumstances change, you aren’t stuck on a long contract.
Dedicated Desk / Permanent Desk
This is better suited to those who want and need the structure of a normal office working day. Costing £150 per month, a dedicated desk has lockable drawers and you can leave your paperwork and belongings on-site. Nobody else can use your desk and you will have access to the building 24/7 with unlimited usage.
As with the Hot Desk option, you will have unlimited use of our meeting room, business address and premium coffee/snacks.
Why do people like Coworking?
Culture has changed a lot in recent years – we are savvier, more digitally connected and want better value for money. Subscriptions have become a way of life – Netflix, Spotify, Amazon Prime… we are all accustomed to paying a smaller monthly cost for something than having to commit to the whole product and the same applies to office space.
Google My Business Address
When people ‘Google’ you and find your listing, but you work from home and your personal residential address is displayed – this not only impacts your credibility as a business, but has privacy implications (who really wants their prospective clients snooping around their back garden on Google Maps or looking up how much their house is worth?!)
We also have some Academy residents who are more established businesses in Lancaster, Manchester and Preston who subscribe to our Hot Desking membership in order to rank on Google for multiple locations by using our address.
It also helps them to appear ‘multi-office’ and a far bigger and more established organisation when prospects visit their website.
The Hidden Cost of a Traditional Office
Taking on a traditional office lease agreement can be costly – not only do you have rent to pay, but there are often many hidden costs too – such as service charges, cleaning, heating, light, waste disposal, water charges, public liability insurance, tea, coffee and loo rolls! These alone can add up to another couple of hundred pounds per month quite easily on top of your rent.
But with a Coworking space, the price you pay is inclusive of all those costs.