These days, it can be hard to rent out your own office space, especially as a start-up or a new business. Because of this shared office spaces have become extremely popular, especially in large metropolitan cities. These office spaces allow businesses to have an office without the stress of an expensive lease for just one company.
Confused about why shared spaces are so popular, and why My Green Network is such a big proponent of them? Here are some advantages to shared office spaces:
- Flexibility: Shared office spaces allow for easily adaptable environments for your business. Most shared office spaces are paid for month to month, which means that new start-ups are not going to be boxed in by year-long leases. These month-to-month dues are also perfect for a new business in its prime. For example, if your team increased significantly or decreases significantly, it is easier to switch to a different office space that is more conducive to your needs. Further, there are no fees or security deposits needed to rent out most shared office spaces, which helps to keep costs down when a business is just getting started
- Networking: Businesses just getting started need as many connections in their respective industry as possible. That makes networking extremely crucial, and shared-office spaces are a perfect, easy way to make connections. With shared office spaces it’s inevitable that you will work with employees from other businesses, which can lead to collaborating with other entrepreneurs and expanding your social network. For a start-up, these connections can be crucial to the success and launch of your business
- Partnerships: In addition to networking, shared spaces usually attract a lot of attention from potential investors or partners. In fact, those looking to invest might seek out shared spaces and visit them in order to find new start-ups to work with and new marketing to tap into. Therefore, working in a shared-office space will allow new businesses to easily connect with possible corporate partnerships and investors, making it the perfect space for a new start-up looking to expand their business
- Amenities: Leading a space comes with the hassle of buying furniture and investing in WiFi, printers, IT support, and other office necessities. Finding these can not only be time consuming but costly. Shared-spaces change all that, as in these spaces furniture, WiFi, kitchen spaces, printers, and mail distribution is usually included. This means businesses save time and money trying to find these resources on their own, and start-ups do not have to deal with these administrative tasks
- Education: Many shared office spaces generally host workshops, speaking events, or programs offered to the businesses that work there. These events not only serve as opportunities to network, but also opportunities to learn more about the industry you are in and the latest news in the field. As a start-up, staying up to date with these new innovations is especially important
Once businesses start in a shared office space, they can’t stay there forever. Ideally the business should expand and need to find a new private space when the company begins to gain momentum. Companies generally know it is time to find their own space when they are interested in customizing their office to fit their brand and their culture.
Overall, shared spaces are a new, efficient way to grow your business without fronting expensive costs many start-ups struggle to afford. If you’re interested in participating in a shared space, contact us at My Green Network to help get you started! Our shared spaces are brand new facilities filled with new leaders in the cannabis industry.