Explaining the Need for Flexible Offices during a Pandemic
The coworking industry is changing rapidly, which has been the case for several years as the nature of work keeps evolving. More people than ever before are transitioning to a remote work lifestyle or a hybrid arrangement that has them in the office on some days and working from home or elsewhere on other days.
However, the coronavirus pandemic of 2020 has impacted all types of businesses and industries. Here is a look at how the year 2020 is changing coworking, as well as how coworking spaces can help businesses of all sizes navigate the pandemic.
1. A Thriving Place for Startups
Launching a new business has always been a costly endeavor. According to one study, the average cost of starting a new business is around $30,000.
For most businesses, part of the cost of getting started involves renting or buying office space and related items, such as furniture and computer equipment. This is where coworking offers significant savings.
By renting a coworking space rather than leasing or buying traditional office space, startups and entrepreneurs can save money on overhead costs. When you don’t have to worry about renting an entire office, buying the furniture and supplies to fill it, and covering insurance and other costs, you can spend your time and budget on seeing your ideas through to completion.
2. Accommodating New Wave of Remote Workers and Work-from-Home Workers
In a recent survey of 152 business executives, 77 percent said the number of employees working from home will increase. In fact, many business experts believe the coronavirus pandemic will have a lasting impact on how people work.
With companies of all sizes transitioning their workforce to a work-from-home or hybrid model of employment, many businesses are finding they need less office space. Additionally, workers need a place to work without distractions.
Working from the kitchen table or a corner of the bedroom isn’t ideal for everyone, which is why coworking offers an appealing alternative.
3. Revitalizing the Economy
The American economy has been seriously impacted by the pandemic. The Washington Post reports that over 100,000 businesses in the U.S. have closed permanently due to the pandemic. A Marketwatch report found that 55 percent of the businesses listed as closed on Yelp due to the pandemic ended up closing for good.
Coworking can play a role in helping businesses recover. As the economy remains in crisis, coworking makes it possible for businesses to reduce their costs by paying for office space only when they need it.
Coworking spaces also help foster a sense of community among business owners. Rather than being isolated, companies that use coworking spaces get the opportunity to interact with others in their industry as well as business owners in other industries.
These networking opportunities can lead to referrals and support that help businesses grow. Small businesses need all the help they can get right now. Coworking is one way to keep businesses operating.
4. Flexibility for Businesses
The pandemic has forced many businesses to furlough workers. Others have been put in the unfortunate position of reducing their staff. As businesses recover, there are bound to be growing pains. A good quarter might lead to a temporary dip the next quarter, or a burst of a new business might be followed by a few months of slow sales.
For many companies, staying afloat through the pandemic means being flexible about the size of their workforce. For example, they might need to rely on freelancers while they go through an unstable sales period.
Coworking space makes it easier for a business to shrink and grow as needed. This flexibility is critical, as it allows businesses to quickly scale back on overhead when budgets get tight.
5. Ability to Accommodate Social Distancing
There is no arguing that coronavirus has changed the world in a relatively short period of time. Many businesses must now conduct temperature checks, sanitize high touch areas throughout the day, and rearrange offices to accommodate social distancing. Conference rooms and team huddles don’t work so well when everyone is supposed to keep their distance.
Fortunately, coworking spaces offer a solution. Many businesses are choosing to use coworking space as a way to divide their workforce into smaller, more manageable shifts. With coworking as an option, workers get the space and amenities they need, and companies can relieve the pressure of sanitizing office space and rearranging offices to accommodate social distancing.
Let Venture X Denver South Coworking Help Your Business
Whether you have an existing business or an idea for a promising new startup, coworking offers an innovative alternative to traditional office space. With coworking, you can save money while letting employees enjoy a better work-life balance. As businesses continue to recover from the pandemic, coworking offers flexibility and budget-friendly solutions.