5 Reasons Why Co-working Is a Great Option For Your First Business
Establishing your first business is a milestone for a professional journey. Suppose you are currently enroute to building an avenue of resources. If you’re at the beginning of your entrepreneurship journey and have limited capital, co-working spaces might be an excellent option.
A co-working space is exactly what it sounds like. Coffee and couches that ensure a relaxed and safe environment and provide a pathway for relaxation and high-end performance.
A co-working space provides variable opportunities and benefits to startups as well. One of the best cities in the UAE wherein company formation can be a high-end opportunity is Sharjah.
The popularity of co-working spaces is spreading here as well.
New business setups in Sharjah and worldwide are now striving towards adjoining co-working spaces because these are not limited to freelancers anymore.
In this article, we will be exploring the following;
- Reasons why co-working is a great option.
- Why choose SPC Free Zone?
- Flexibility for companies
For a vast majority of startups today, finding a work environment that aligns well with their company’s growth takes time and effort.
Most spaces do not provide the level of flexibility that a startup with a small turnover would need. Often with investments and rents, a business person may only want to commit towards a two-year office lease if the workforce has begun growing. If there are a few months left for the opportunities to garner, then it is appropriate to opt for a co-working space.
The flexibility provided by co-working spaces is one of the core reasons why many startups today are opting for them. A co-working space offers startup space as they grow and expand in nature. In the early years, membership options ranging from dedicated explicitly to private offices were worthwhile.
As a business owner with two or three employees, one may want to begin using the hosting opportunity. Then, as the team grows, they can move towards a smaller office.
Another reason why co-working spaces are becoming exceptionally popular amongst startups is that these provide an alternative to the daily hassle of renting an office space. Business owners often find spending time and money on office managers and general maintenance a waste. These resources instead can be used viably to quadruple a business’s growth. A co-working space allows startups to manage their limited resources efficiently. They do so by managing the utility bills and facility management. As a result, startup business owners have the flexibility to focus solely on their business.
- Opportunity for networking
As a startup business owner, it makes ample sense that business owners would look for workspaces that can foster organic business connections. Co-working is one of the essential places of building a solid customer base.
A co-working space, as a result, encourages this form of growth. While sharing the same space for business, collaboration becomes exceptionally easy for business personnel from different walks of life. A viable example of networking includes a professional development workshop where individuals can discuss their business ideas over coffee.
Increased visibility is good for startups that focus heavily on word-of-mouth marketing. Startups can take the regular networking events hosted by co-working spaces in their strides. These allow them to expand their horizon for professional contacts and gain potential customers.
A co-working space provides access to a community full of successful entrepreneurs. As a startup founder, one can benefit exceptionally by connecting with other young successful business owners. Some co-working spaces foster this discussion through mentoring programs and regular workshops or meetings with industry leaders.
- Services and amenities provision
The most high-end co-working communities of the world tend to offer their members state-of-the-art amenities and services designed to help startups grow. The membership gained in a viable co-working community typically includes benefits like rooms for conference calls and meetings with potential clients.
Moreover, there are also several spaces for relaxation, like outdoor porches, pool tables and lounge chairs. Some co-working spaces also provide workplace supplies like Dry erase walls, power desks and other office furniture. To add zest to the availability of a co-working space, it is essential to note that these also provide amenities like free coffee and fruit along with basic appliances like a refrigerator and microwave.
Since all of a startup’s services will be bundled into a single monthly bill, the expenses will be streamlined significantly. The building management of a co-working space is responsible for maintaining all these features.
- Work-Life Balance
According to recent surveys, full-time workers struggle with work-life balance. Entrepreneurs, startup founders and innovators have been continuing to express concerns about not receiving enough sleep and finding time for their family and friends since there is an insurmountable demand to scale. A co-working space can mitigate work-life balance anxiety.
Why choose SPC Free Zone?
SPC Free Zone is home to state-of-the-art co-working spaces that can be booked by business license holders. Complete with ergonomic furniture, high-speed Wi-Fi and a coffee station, the SPC Free Zone co-working space is the place for new entrepreneurs to kick start their ventures at a minimal cost.
SPC Free Zone helps support businesses, including an opportunity to opt for a dual license for the mainland and the free zone. Moreover, businesses can maximize profits with zero paid-up share capital, and 100% foreign ownership. Each license includes up to 20 visas, too.
SPC Free Zone is here to help with your business setup in the UAE!