Comparisonsmaster
The Advantages And Disadvantages Of Coworking Spaces
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Pros of coworking space
Large community with complementary skills: often coworking spaces attract individuals of similar minds. Thus it is easier to interact with talents with skills that could help you build your company. Also, it can be a good avenue for building your client list because of the high number of people you interact with.
Chance to Network: since the coworking spaces attract industry minds, it could help one in growing his startup through networking with startup founders. Having top entrepreneurs can be helpful, especially when things get tough because you are working with individuals who understand the industry.
Enhanced flexibility: this is perhaps the most obvious advantage of coworking spaces. You get to choose a lease plan as you do not have to lease for the whole year. You can have a hot seat, private desk, or a private office. Coworking spaces are less costly as there are no upfront fees, and you have various options to choose from. The good thing is, should your team increase you can have a private office easily.
Cons of coworking spaces
No privacy: this is the deal-breaker for coworking because there is no privacy. Although packages are different to get, a private office will cost more. There are a lot of distractions because not all coworkers can be reading from the same page. Even in private officers, you may encounter noise from the rest.
Competitors: Competition is healthy because it demonstrates that what you are doing is valuable. With coworking spaces, you are all in the same industry and competition, in this case, is huge. You should be keen not to share your ideas with even those you should not.
Working hours: most coworking spaces open from 9 to 5, which is not flexible for those who want to put an extra shift.
