Coworking Spaces are promoting business expansion

10 ways to use coworking spaces for business expansion

A coworking space can help you achieve business growth in plenty of ways. Here are 10 of the most important:

Coworking spaces are perfect if you want a more flexible approach to office space.

Traditional offices can be challenging to scale fast. If they're leased directly from a landlord, gaining permission to make changes that accommodate growth can take time and effort. Often, business owners have to get more space than they need, so there's room to grow later.

When you outgrow your office, you have to start a new one from scratch. All of this adds further costs, admin, and stress. With coworking, space isn’t an issue.

Adding or removing memberships without worrying about outgrowing your office or getting a new one is easy.

2. Cost efficiency

The flexibility of coworking offices also helps save costs.

A permanent office comes with plenty of upfront overheads, especially if you buy outright. At the same time, having to get more space than you need can often feel like a waste of money.

With coworking locations, you only ever pay for the specific number of employees using the office at that time. That means costs can rise in line with your head count.

It also means eliminating the need for costly overheads and up-front investments.

3. Access to services and facilities

With a solely traditional office, making space for the full range of facilities you need can take much work. This is because, in the cases where you can't accommodate a hybrid office or hot desking, you often have to prioritise much-needed permanent desks.

But coworking and office spaces give you access to private booths, meeting rooms, breakout areas, and more. All as and when you need them.

This lets you work when and how you like without compromising on cost or space.

4. Engage with diverse communities

In a fixed office, you'll usually only come into contact with people from your company.

Of course, you want to collaborate as much as possible. But it’s also great to work alongside people from a whole range of companies and diverse communities.

Coworking offices for business offer a great way to build networks and get out of your comfort zone.

5. Geographic expansion

Coworking spaces are also perfect for expanding in different cities or countries.

Leading providers will have a portfolio of locations for coworking space across the country and worldwide. This makes adding a seat in Manchester or Berlin no harder than one in London.

This approach makes it easier to hire the best talent wherever they are. That means you can expand into new areas without a substantial upfront investment in cost, admin and space.

6. Employee wellbeing

Employee wellbeing is another key reason to use a coworking space. One recent survey suggests home working creates 'loneliness and heightened stress levels' for 81% of under-35s.

By allowing remote workers to leave the house and be around other remote workers, you can help reduce this stress.

7. Potential networking and business collaboration

As a place to build connections and meet new people, there’s nothing quite like a coworking space for business.

They're filled with like-minded professionals; you don't have to go to dedicated meetings and networking events to find them. This makes it easier than ever to bump into potential clients and partners in an organic and natural way.

8. Encourage innovation

Innovation is the key to achieving success as a business and growing your customer or client base. Coworking and office spaces are great places to do this. That’s because they’re full of small companies, start-ups and flexible workers from a wide range of different industries.

Coworking spaces are where all this talent can come to exchange ideas and learn from each others’ experiences. That plays a massive role in boosting innovation.

9. Access to supportive systems

Coworking locations can offer support like mentoring programs, workshops and networking events. This is particularly helpful for small companies that might not otherwise get access to schemes like this.

These programs can help you understand how to manage time and stress. At the same time, you can learn from industry experts and find new solutions to business challenges.

10. Reduce secondary costs

With a traditional office, you're buying more than just the space. You also need to pay for the infrastructure, furniture, utilities, and more.

This differs from a coworking space since you don't have to pay for overheads. This makes for a much cheaper and more flexible approach to office space.

11. How to maximise the use of coworking spaces for your business

It's about more than having a coworking desk to put your laptop on. There are plenty of different ways you can use the space to support your team:

As a secondary office space

A coworking space can give you extra capacity or flexibility even if you already have a permanent office. If you still need to grow your office, a coworking space can help you expand your capacity without significant overheads.

As a satellite office

Satellite offices are another key benefit. If you're hiring in new locations, you likely want to avoid the costs of a whole new office. Coworking spaces give you somewhere to work without the admin or expenses.

As a training and meetings space

It's essential to take some time out of the busy day-to-day and focus on the bigger picture. However, creating a dedicated space in a traditional office solely for meetings can take time and effort.

When renting a flexible coworking space, you can also enjoy access to meeting rooms and training spaces on demand. This will save you from having to commit valuable office space for irregular events like client meetings or in-house training workshops.

Support your business expansion with Regus

For businesses of any size, coworking desks are a fantastic place to grow in the world of hybrid work. They offer a flexible approach to office space, a wide range of facilities and access to a diverse business network.

This is all a big helping hand when it comes to expanding your business. With hybrid work here to stay, there has never been a better time to explore a coworking space.

With Regus, you get flexible access to coworking spaces, lounges and private offices. You can choose from a monthly package of five, 10 or unlimited days, and have over 4,000 centres globally to choose from.#

About IWG

IWG is the global leader in hybrid work solutions and workspace brands. We create personal, financial, and strategic value for businesses of every size, from some of the most exciting companies and well-known organisations on the planet to individuals and the next generation of industry leaders. They all harness the power of IWG's hybrid working platform to increase their productivity, efficiency, agility, and market proximity.

IWG’s unrivalled network coverage includes approximately 3,500 locations across more than 120 countries, and 83% of Fortune 500 companies are amongst our growing customer base.

Through our brands, including Regus, Spaces, HQ and Signature, we help millions of people and their businesses to work more productively. We do so by providing the world's leading hybrid work platform with professional, inspiring and collaborative workspaces and digital services, all available via the IWG app. For more information

Visit www.iwgplc.com, and for more information on partnering with IWG, see: ​ https://www.iwgplc.com/develop-a-location