When it comes to most startup success stories, they all have ‘humble beginnings’ in common. You must have heard stories where a talented entrepreneur turned their basement or home garage into a functional workspace.
While that may be fine in the early stages, it no longer remains feasible when more people join the team, or you’re always holding client meetings at the nearest Starbucks.
Hence, it doesn’t come as a surprise when the demand for coworking spaces started to take off in the last decade, even before the COVID-19 pandemic turned ‘remote work’ into a new normal.
The market witnessed a 36 percent growth globally in 2018 and a 16 percent rise alone in the US. The journeys of famous startups, such as Spotify, Instagram, and Uber, can be traced back to the hustle and bustle of coworking spaces.
But why is that? What is the reason behind the popularity of coworking spaces – one that specifically caters to the needs of startups?
It turns out there isn’t just one reason that’ll make a coworking space New Jersey a hot destination for startups around the area. If you’re curious to find out, read on.
The necessities of a modern workspace are usually the most significant expense a startup must pay. From furniture and technology to cleaning and maintenance, the costs can quickly add up, leaving a dent in your capital.
Fortunately, all these things are already taken care of in a coworking space. All you must do is walk in, find the right corner to operate, settle in and look forward to productive days. Considering the low monthly fee, it comes off as a steal compared to maintaining a full-fledged office.
If you own a startup, you’d know that nothing is static; coworking spaces are designed to offer the kind of flexibility you need.
Have ten more people joined the team? No worries, a coworking space allows you to expand or contract based on your changing needs.
The best coworking spaces are equipped with all the modern amenities that a startup may need to function. You’ll find everything your team needs to stay productive at work, from high-tech meeting rooms to airy break spaces. Regarding food and beverages, most spaces provide free coffee and access to essential appliances, such as a microwave or fridge.
They’re Good for Networking!
When networking is done right, the connections you build can give you access to resources that drive your business forward. However, finding time for networking while building a company from scratch cannot be easy.
What if you could network with professionals while you’re at work? And that’s precisely the case with coworking spaces, where you’re surrounded by freelancers, consultants, entrepreneurs, and experts of all kinds.
Startups that choose to operate from a coworking space often consider it to be one of the support systems fueling their business growth. Not only does a good coworking office space New Jersey offer state-of-the-art infrastructure, but it also brings like-minded entrepreneurs together to bounce ideas off each other. And let’s not forget that these workspaces’ cost-effective aspect also helps.
Finding asuitable coworking space is essential for establishing the ideal company culture. So, before you go ahead and take a membership, schedule a visit or possibly seek a free trial.