Shared office space, in all of its incarnations, offers professionals a cost-effective way to meet the demands of overhead. The co-working office, virtual and serviced offices, in particular, have revolutionised the function of the office. Among its many features, this format allows all businesses the opportunity to take advantage of working amongst professionals while having access to all of the amenities of a standard office.
The formats work by leasing the use of desk space and the internet to businesses who really want to keep their overhead low. These formats work ideally for start-ups because it allows these fledgeling companies the opportunity to work with some of the most talented professionals in an industry and at a much-discounted rate compared with standard office leasing. While many tout the advantages of these office formats, there are both pros and cons to working in the co-working space.
To learn more about the pros and cons of utilising these office styles, continue reading below.
In terms of flexibility, the virtual office, the serviced office and co-working spaces all have very flexible leasing options in comparison to the conventional lease. For usually a much lower rate, these companies will pretty much fit out an office plan for your business. These plans can be modified as your business grows or expands. Furthermore, many of the leases are transferable, at least for the larger companies. For information in regards to how co-working, the virtual office and the serviced office works, view the Servcorp dedicated desk solution to see how this amenity works as a part of any one of these plans.
The disadvantage of these leases being flexible is that while leasing options allow you to lease space at a discounted rate these spaces are among other businesses. As a part of shared space, you forgo the privacy that sometimes is needed when dealing with certain business matters. Also, for those occupying a dedicated desk, trying to work in the middle of an office where the noise levels become elevated is difficult, especially during peak hours.
Shared office spaces, especially co-working spaces, encourage professionals to interact with one another. In fact, much of the collaboration that makes working in these environments a wonderful experience comes from this informal networking. In addition to these informal networking opportunities, formal opportunities to engage with others in this environment happen on a daily basis. Add in some of the after-hours events and you can pretty much bring the party to work every day.
However, because these office formats promote social interaction, especially the co-working office, professionals can be easily distracted from work. On any given day, the office can be alive with conversation and activity, and if you are not someone who can easily focus, you probably want to opt for a private office or a dedicated desk to get away from some of the more social areas.
When compared to conventional office spaces, yes, the serviced office, the virtual office and co-working spaces are a much cheaper option, and often these office places you right in the middle of some of the most prestigious business districts. However, alternatively, when compared to working at home, which is free, some might find the cost of high-voltage coffee, cold pastries and too much social interaction not worth the monthly rate.
A Without A Doubt Deal
All three office settings offer professionals a menu of options from which to choose. Even with the convivial atmosphere, professionals will find that there are opportunities to work in the office during off-peak times or later in the evening when people have gone home, as some offices offer 24-hour access to the buildings. For start-ups and businesses that need a space to call home, the virtual office, the serviced office and co-working spaces offer these professionals a deal they are unlikely to find anywhere else.