Our intern, Emily Leaman, here at The Candy Factory wrote a blog post about why small businesses thrive within coworking communities. Emily is studying social entrepreneurship, so this was the perfect assignment for her!
How Coworking Helps Small Businesses Thrive
Gather. Imagine. Create. Thrive. Cowork. Those words aren’t inscribed on the 20-foot wall you see when you walk into the ever-charming Warehouse D for nothing.
Coworking is a relatively recent way entrepreneurs, freelancers, and other professionals are solving the problem of working in isolation. But coworking isn’t just a way for freelancers to escape the distractions of home; it promotes small business growth which in turn enriches communities and advances the economic landscape of places all over the world.
The growth of small businesses in coworking spaces works in several ways. Renting a large, private office space with a long-term lease is not always a viable option for small companies, especially if it’s in its early stages. Coworking offers business owners a chance to work in an office for an extremely affordable price. Owners also avoid the time and money spent on rent, office equipment, fire insurance, and other associated costs that may be prohibitive for a startup. With a shared office, everything is ready to go and small businesses can focus on what really matters: their company.
Coworking spaces also offer the functionality and flexibility one may not find in a typical office. Whether you’re a one-man business, team of two, or company of five, shared office space will fit your needs whether it be private conference rooms, phone booths, mailbox services, lounges, standup desks, and other resources that you need to thrive. Plus, as you grow your business it’s easy to scale in the large space that coworking offices offers.
Being based in a shared space also comes with the added perk of being surrounded by goal oriented and high-achieving people. This is an opportunity to network with small business owners, edge thinkers, professional freelancers, other entrepreneurs, and people that could be potential partners, clients, or even mentors. The community and relationships that grow out of this gives business owners the chance to collaborate, exchange ideas, and grow their companies.
Also, free, bottomless coffee? That’s seems like a recipe for business success to me.
Emily Leaman is currently studying Social Entrepreneurship at Fordham University in New York City. She is passionate about startups, community, social innovation, and coworking. When she is not having fun at her internship at The Candy Factory, she enjoys painting, playing the banjo, exploring nature, and blogging about her favorite social enterprises and music.