Young Upstarts

All about entrepreneurship, intrapreneurship, ideas, innovation, and small business.

5 Reasons You Should Be Using Coworking Spaces In New York City

coworking space inspireThere’s no getting around the fact that New York City is one of the most expensive places in the world to rent an office. Yet, there’s good reason for this. It is also one of the most desirable and, if you make the right moves, it can be hugely profitable too. The bad news is that it can be very difficult for small businesses, with tight budgets, to get their start here.

Fortunately, this is something which entrepreneurs are already trying to solve. For many years, people have tried to invent new types of work environment. The aim is to move away from rigid, lock in leases and create corporate conditions which nurture without stifling creativity. Coworking, for example, is one of the most popular methods among SMEs in the Big Apple.

This guide to the basics of coworking and shared office space will help you to grips with what is fast becoming a collaborative revolution:

Happier Employees. 

It’s taken a surprisingly long time for businesses to realise that not everybody thrives in the same conditions. When you work with high-end providers like Servcorp coworking space in NY offers something for all personalities and strengths.

If you love to soak up an energetic atmosphere and bounce ideas around with fellow entrepreneurs, this is the perfect place to do it. If you want to create and innovate in a dynamic environment, without having to give up your right to privacy when needed, try coworking.

Greater Productivity.

The common assumption is that sharing office space must lead to major distractions. This isn’t usually the case because you’re in full control of how you operate. When you don’t want to chat or be part of a team, you can find a quieter spot and leave the noise and activity behind.

Then, when you’re ready to share ideas again, all you have to do is move into a livelier part of the office. Coworking spaces are designed to fit around your needs. They don’t tell you how to structure your day or carry out tasks. They just give you the right tools to get the job done.

Friendly Competition.

The idea that contact with market rivals should be distant or suspicious is a very old fashioned one. The truth is that entrepreneurs tend to become more creative and productive when working among those in similar industries.

Coworking spaces encourage friendly competition and challenge small businesses to learn from the mistakes and triumphs of their peers. It isn’t all about rivalry though, because there’s plenty of chances to team up, come together, and unite for bigger, stronger profits.

Minimal Expenses.

One of the best reasons of all to opt for coworking spaces is the fact that they’re so affordable. The physical office environment and the resources it contains (broadband, ergonomic furniture, phone lines, IT support, etc.) are shared with other tenants.

This can take a little while to get used to but the cost benefits are huge. The rates are normally very low – much lower than they would be for private office – and there are no logistical expenses either. The rolling access fee is paid each month and includes all utilities.

Freedom to Change.

Finally, it is worth remembering that, without long-term leases, you retain a degree of flexibility and independence. For small businesses, the ability to respond to market changes is vital. When your profit margins are narrow, survival is a matter of adapting to fit current conditions.

This applies to both up and downgrading. If you find that your business grows much faster than expected, it’s natural to want to start expanding. However, you can only do that if you choose a flexible office provider that is keen to accommodate your development.

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Young Upstarts is a business and technology blog that champions new ideas, innovation and entrepreneurship. It focuses on highlighting young people and small businesses, celebrating their vision and role in changing the world with their ideas, products and services.

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