If you’re in search of a good coworking space for your employees, you should think beyond WeWork. There is a growing trend of renting local coworking spaces.
According to the latest Coworking Space Trends for 2020 from Clutch, 36% of coworking employees work in local coworking spaces. And 39% of coworking employees work in WeWork, the most popular option.
Considering most businesses now prefer to be involved in their local communities and the recent WeWork crisis, local coworking spaces are expected to rise in popularity.
Small business owners often try to cut business costs to increase their profits. And renting spaces locally is often cheaper than renting a coworking space from big brands like WeWork.
So small business owners can save money if they go for a local coworking space provider. What’s more, renting a local coworking space can help you connect with your local community.
Top Coworking Spaces
Throughout the world, WeWork is the most popular coworking space. However, smaller spaces are also becoming popular due to their local advantage.
With 28% of coworking employees, TechSpace comes on the third in the list of coworking spaces, according to the Clutch’s Coworking Space Trends 2020.
Features of Spaces
Each business’s needs are different. And coworking spaces can meet the unique requirements of different businesses.
50% of coworking spaces come with a private room layout, and 42% of coworking spaces have a cubicle layout.
If you want a fun space to destress your employees, you can get it.
And 67% of coworking spaces, as the report states, have lounge or break areas. While 58% of coworking spaces have kitchens. What’s more, coworking spaces also have recreational areas.
Here are the top features of coworking spaces:
Coworking spaces, with their common layouts and popular features, can meet any business’s needs.
Why Businesses Choose Local Coworking Spaces
Many businesses want to connect with the local community. And many a time, local, smaller coworking spaces can help tenants get local partnerships and sponsorships.
Also, these spots can bring in a sense of being part of the local community, which big companies often lack.
Additionally, local coworking players can help businesses better organize local events.
Kristen Herhold, senior content developer & marketer, Clutch, said, “Our survey shows that businesses are seeing the benefits of smaller, local coworking spaces over the giants such as WeWork. We expect local coworking spaces to grow even more in light of WeWork’s recent scandals. Small businesses can benefit from local coworking companies because they tend to be more in touch with their community and care about their tenants.”
Connecting to local audiences is the key to success for most small businesses.
Local coworking spaces offer opportunities to connect with other businesses operating in the same space for organizing mutually beneficial local events.
This is also a reason why use of these spots are going to rise in the future.
How Your Business Can Benefits from Coworking Spaces
Coworking spaces are a perfect fit for small businesses.
With renting a coworking space, you can:
- Easily scale-up your business (no long-term lease)
- Focus more on executing growth plans (no worry for tasks associated with running a traditional office)
- Predict overhead cost easily
- Have opportunities to copromote your business with other businesses
- Increase your employees’ productivity (coworking spaces are designed for optimal productivity)
Needless to say, you can also have opportunities to get local partnerships or sponsorship if you choose a local coworking space.
About the Survey
Clutch conducted this survey, including 501 people who have worked in a coworking space in the 12 months. Respondents were from an urban area, suburban area, and rural area. Click here for more details about the survey.