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In the modern office culture, the buzzing word is a co-working space. It seems it is the best choice for your office space needs if you are a startup, freelancer, or an owner of a small company. Let’s take a closer look and see why co-working space is so popular among this community and what are the advantages & disadvantages associated with this. This list of pros and cons will help you in an informed decision making about office space needs.

Cost: Office space rent is too expensive for most startup and small companies. You may also need to acquire extra space for future expansion. Most of the time, you also need to sign a long-term lease agreement for this. In this current economy, where the future is unpredictable, investing a lot of money in the office space is not an intelligent choice. A co-working space gives you all the benefits of a functional office at a budget price. It saves you lots of money, which you can utilize as working capital or as an investment in any other area of your business.

Vibe: The atmosphere for working is an important aspect of productivity. There are numerous reasons why a coworking space sparks creativity, productivity, and efficiency. Apart from all these, from a client point of view, a business run from an office space gives an official vibe rather than a home-owned business. This official and the professional vibe is very essential when it comes to closing deals with high-end clients. Moreover, a business with an official office building address would add more reliability.

Talent: At the co-working space, diverse talents surround you. Here you will get the opportunity to work with new people. Thereby, you will naturally develop good relationships with other industry professionals. You can also hire them or share your challenges for the solution. They will help you to expand your business and find new opportunities in the business world. This networking is essential in today’s business world.

Scalability: Your house or conventional office space is not scalable. Do you have additional space in coworking space? You can lease it out, until it is time for you to grow. Until you reach a certain level, that extra space in a conventional office or home remains an unused asset.

Rules & regulation: The biggest problem of co-working space is the strict rules & regulations of the place. Since you are a part of a community of different workers, numerous rules become an everyday routine. Starting from dress codes to how you conduct business, there are numerous areas where you need to customize to fit your business to space.

If you could adhere to those rules and regulations, it is profitable to choose co-working space, if you are in the beginning stage of your journey. Once you pick up, you can always shift to a traditional office space.