It’s fascinating that coworking was first introduced way back in 2005, nearly 16 years ago!
Yet, the concept of coworking only picked up much later, gaining more recognition as a cost-effective, new-age concept of business networking model after the global COVID-19 pandemic.
Coworking ecosystems are created as productive and collaborative environments that cater to a diverse group of members. With household names like Regus, WeWork, Dojo, The Work Project etc. dotted across the world, you can find spaces of many different kinds.
These environments are inhabited by dynamic entrepreneurs and professional remote workers who enjoy the absence of corporate constraints and limitations, and prefer flexible memberships that meet their business and personal requirements.
Although coworking spaces serve as the perfect foundation for startups and entrepreneurs due to its structure and how its run, there’s also residents like corporate organisations, freelancers, remote workers, and SMEs.
For startups, coworking spaces gives the possibility to both scale up and scale down the number of team members depending on their needs. The costs of shared offices are low, while the community for networking is wide. It offers abundant opportunities to increase expertise, listen to mentors, find funding options, and launch a new product.
With more than 18,000 coworking spaces springing up worldwide since 2019, coworking is definitely a new way of getting work done and sharing.
How to choose the best coworking space for you and your team
Location is crucial when it comes to deciding your coworking space. You’ll want to check off every criteria on your list when you’re choosing a prime location.
The first is the value it adds to your business. Most companies use the registered coworking space address as their own, displaying it on their website, for mail and deliveries, and most importantly to meet clients. Clients will be impressed if you have your workspace in a good neighbourhood due to the prestige associated.
The second would be convenience. Ease of access and transportation to your workplace eliminates the frustration of long commutes to the office, especially during rush hours. It’s best to choose a place within walking distance to public transport options for both you and your employees, and one that is near F&B and entertainment establishments to keep everyone satisfied.
At Found8 Amoy, you’ll be spoilt for choice with the plethora of food options in the area. From cafes, vegan options, to cheap and delicious hawker fare, your tummy will never be growling.
Coworking spaces are known to have great amenities and free refreshments. It brings to mind how Google HQ is often raved about, as offices are spacious and employee welfare is highly regarded, with perks like free food.
That makes most people want to work in a well-facilitated workspace that fits the needs of themselves and the company. Some of the essential qualities of a good coworking space includes – high-speed internet connection, printing services, meeting/conference rooms, phone booths, event spaces, lockers, parking areas, and spaces outfitted with ergonomic furniture and utensils to provide utmost comfort to members.
Most coworking spaces offer free unlimited refreshments such as coffee, tea and snacks on hand in the pantry. Others have on-site cafes, restaurants and even beer taps. You can also enjoy a variety of benefits if your coworking space partners with facilities nearby, like fitness and wellness services at Core Collective, situated in the same building as Found8 Tanjong Pagar.
Plenty of shared offices provide different amenities and have state-of-the-art facilities that make for a more productive place to work. Naturally, top-quality amenities and facilities call for a hefty price. Choose an office space that’s economical for you and at the same time can provide for your needs.
A significant factor on why people choose to use coworking spaces is the cost-efficiency of it. With flexible membership plans available to suit solopreneurs to bigger corporate teams, there’s no need for long-term commitments and expensive leases with additional costs for furniture, internet, cleaning services etc. that mounts up.
While prices for different coworking spaces vary based on location, amenities, and product, there are many payment plans to choose from, so be sure to opt for one that’s best for you. Trial periods are also popular for potential members to try out the space first, or you can try redeeming on reward apps like Chope or FavePay, where Found8 is listed.
Since the pandemic has caused many businesses to suffer huge losses, coworking spaces that can offer comfort, flexibility, and networking opportunities have become an even more attractive workspace alternative.
Another reason entrepreneurs and companies opt for a coworking space is the work environment. Many coworking spaces are accessible 24/7, so it’s perfect for people who don’t conform to the 9-5. Depending on your needs, you should find a workspace with easy accessibility that allows members to enter at any time of the day to get work done, meet clients and guests, or whenever they feel productive.
When choosing a space to fit your needs, ask these questions:
- Are the common areas segregated from the work areas to allow maximum focus and productivity?
- Are there sufficient areas to relax without disturbing others who are working?
- Do the table settings and lighting allow for working in comfort?
Apart from the layout, you should also take note of the noise level, décor and lighting. Lots of natural light or warm lighting will create a better work environment for you to happily focus in, as opposed to bright fluorescent ones. A calming view like the scenic skyline or facing the ocean will boost your mood every day.
Sometimes, switching environments and sitting in a different area or new coworking branch allows you to refresh your mind and consider alternative solutions to business challenges.
The best ideas arise from collaboration! That’s why it’s extremely important to pick a coworking space with plenty of collaboration areas and a bustling community of people. Some coworking spaces attract a specific crowd – digital nomads, go-getting entrepreneurs, creative types, and others.
By working close to people who share similar interests and goals, you’re exposed to new perspectives that can provoke bursts of creativity. To increase your networking prospects, make sure to join in on events and community lunches regularly held at a coworking space that are engaged with their members. Certainly, more intimate community events were held pre-covid times.
Several coworking spaces hold activities for the public and their community, such as networking workshops or seminars with members or industry experts to share entrepreneurial experiences.
Amongst the slew of physical and virtual events, Found8 also curates monthly virtual events listicles for the community, and co-organise virtual sessions like Meet the Experts and Meet the VCs for startups.
Depending on your trade, select a coworking space that has a community of energetic, motivated, friendly, and like-minded people to surround yourself with and it’ll make going to work every day fruitful. Plus, you’ll reap the benefits of brainstorming with others who could give you new ideas.
Take your time in choosing a coworking space that fits your needs and your business. The perfect space will help you stay productive and a collaborative environment can help support your personal and professional growth.
With so many creative and stimulating coworking spaces worldwide, the coworking movement is only expected to grow rapidly. It’s easy to find spaces that fulfil the basic requirements, but it’s hard to find a place you can call your second home.
Each Found8 space lends a different vibe – from the bright and laid-back Amoy shophouse, dynamic and spacious Tanjong Pagar office, to the collaborative and inspiring High Street Centre space, members can cultivate a strong sense of belonging.
If you are a startup entrepreneur, freelancer, or corporate company looking for support to grow your business, Found8 is the leading coworking space provider and community that enables our game-changing members to collaborate and grow by providing the right network and environment.