Definition and Benefits of Coworking
– Coworking is an arrangement where workers from different companies share office space.
– It allows for cost savings and convenience through shared infrastructure and services.
– Coworking is attractive to independent contractors, remote workers, and frequent travelers.
– It helps to alleviate social isolation and eliminate distractions in a home office.
– Major companies in the coworking industry include WeWork and IWG plc.
– Businesses that embrace coworking spaces can cut costs by 25%.
– Coworking spaces provide a sense of community and networking opportunities.
– Coworking spaces offer flexible and collaborative work environments.
– Coworking spaces cater to a diverse crowd beyond tech entrepreneurs.
– Coworking spaces provide a solution for parents with on-site child care.
Types of Coworking Spaces
– Coworking spaces can be real-estate-centric or community-centric.
– Real-estate-centric spaces focus on selling desks and offices.
– Community-centric spaces prioritize building a collaborative community.
– Coworking spaces often target freelance professionals and small to medium enterprises.
– Additional professional services such as printing and consulting may be available.
Distinction from Other Workspaces
– Coworking is different from business accelerators, incubators, and executive suites.
– These spaces often lack the social and collaborative aspects of coworking.
– Coworking management practices are more focused on community rather than profit.
– Some coworking spaces cater to specific niches, such as combining coworking with meditation or childcare.
– Religious-themed coworking spaces also exist, catering to specific communities.
History and Growth of Coworking
– Coworking was preceded by European hacker spaces in the 1990s.
– It emerged as an alternative to working in coffeehouses or isolation in home offices.
– The demand for coworking has been driven by independent contractors and digital nomads.
– The number of coworking spaces and available seats has doubled each year between 2006 and 2015.
– Coworking has gained popularity in Asia-Pacific, with significant growth in flexible workspace.
– Coworking has become popular in Asia-Pacific due to limited space and rising commercial costs.
– In Europe, coworking spaces have seen significant growth, with France opening its first space in 2008.
– Europe ranks third in terms of the number of coworking spaces, behind the United States and Asia.
Coworking Spaces in Different Regions
– Shoreditch leads the coworking market in London.
– Pärnu Start-Up Center is a coworking space in Pärnu, Estonia.
– Berlin and Amsterdam are examples of cities in continental Europe with coworking spaces.
– San Francisco is a hub for coworking spaces in North America.
– Co-Creation Hub (Cc-Hub) in Lagos, Nigeria, houses over 50 startups.
– Growth and Trends in Coworking Spaces: Coworking spaces are projected to grow by 50% in 2017. The number of coworking spaces in India has been increasing. The Asia Pacific region has seen a rise in coworking spaces. WeWork has captured the millennial market with its coworking spaces. The future of coworking in Asia Pacific looks promising.
– Coworking Spaces in Specific Locations: Penang, Malaysia has a thriving startup community and coworking spaces. London has reinvented itself as a hub for emerging businesses with coworking spaces. Miami has been ranked as America’s No. 1 city for coworking. Portland, Oregon has a vibrant coworking scene. Toronto, Canada is shaping the future of work with its coworking spaces.
– Coworking Spaces in Rural Areas: Rural coworking spaces play a crucial role in revitalizing rural communities. Coworking spaces in rural areas provide opportunities for remote workers. Indy Commons, a rural coworking space, celebrates its two-year anniversary. COhatch expands its coworking hubs to make impactful local investments. Rural coworking spaces support entrepreneurship and innovation.Sources: https://en.wikipedia.org/wiki/Coworking
