What is coworking space?

What is coworking space?

In the most basic sense, a coworking space is an area meant to accommodate individuals from various firms who come together to work.

Coworking spaces are defined by the availability of shared facilities, services, and tools. While sharing infrastructure in this manner helps divide the expense of maintaining an office among members, coworking spaces are about more than cost savings.

Coworking spaces are community centres, collaboration hubs, and social places where professionals from all backgrounds may join together to share expertise and experiment with new ideas. Coworking has community origins that date back to Europe’s original “hackerspaces,” and modern coworking spaces retain a significant social component.

Recently, larger firms have begun to utilise coworking spaces to reduce wasted office space, relocate away from traditional headquarters, and embrace a more flexible style of working. Growing firms can utilise coworking spaces to diversify their operations and tap into different talent pools without incurring the risk of a long-term lease. They provide a handy venue for new remote workers to continue meeting and collaborating with coworkers without travelling too far.

Who uses coworking spaces?

Coworking facilities are becoming increasingly popular in the startup and freelancing communities. When coworking spaces were first introduced, it was common to think “startup” and envision some (outlandish) office building where everyone rode unicycles and sat in enormous bean bag chairs. However, coworking is not just for cost-conscious startups. Therefore, who utilises coworking spaces?

Freelancers, remote workers  and other employees that work for themselves, normally use a pay-as-you-go service.

Start-ups seeking an alternative to standard leases have flocked to coworking spaces. Due to the low startup costs and the fact that a coworking membership typically covers the majority (if not all) of the services a business requires daily, it’s unsurprising that small enterprises now account for the majority of coworking space users.

Yes, even multinational corporations such as Nike have worked with coworking firms to manage their workplace requirements. Managing office needs can be a pain when you have thousands of employees spread throughout the globe. These businesses either contract with a coworking space provider to build up a specific space for them or act as the principal anchor tenant in the space.

Numerous co-working places provide non-profit discounts or arrangements. Due to the overall cost savings associated with coworking (and their inherent cost consciousness), these types of businesses have drawn into these flexible coworking agreements as well.

Network with other businesses and freelancers.

Around 41% of all coworking space users are freelancers, while 36% are employees and 16% are employers. The biggest group has remained workers in the IT sector, accounting for 22% of all businesses, while marketing and PR professionals account for 14% based on research from Head Space Group.

Additionally, a coworking space is an excellent method to network with other businesses and freelancers. It’s an ideal location for networking. Whether you’re a digital publisher, a creative freelancer, a programmer, or a jack-of-all-trades, there’s a good chance you’ll meet individuals at a coworking space who are working on comparable projects.

Where are coworking spaces?

Coworking spaces exist in a variety of configurations and sizes. When conducting location research, there are numerous factors to consider. Community, amenities, and the work environment are all variables that vary depending on location.

Open workspaces are frequently used interchangeably with the term “coworking,” as this is where coworking originated. These sorts of workspaces feature shared workstations or dedicated desks where employees from several organisations share common areas.

Private workstations are diametrically opposed to open workspaces. These private areas can be in the shape of an office or even customised suites for large teams. Members of the same firm either share a dedicated room or a combination of areas that the company leases or rents.

Incubators and venture capital spaces are among the most selective types of coworking spaces. These workspaces are designed to attract and fund businesses by providing them with the resources necessary to grow. Historically, venture capital firms have offered reduced rent or funding in exchange for equity in the businesses accepted into their programmes.

Apart from the different sorts of workstations offered, there are also aesthetic considerations. Corporate and professional coworking spaces coexist alongside creative and casual coworking spaces. It is critical to select a venue that reflects the culture of your business. Additionally, coworking spaces offer on-demand rooms where you may supplement your plan with a conference room or virtual package.

Wouldn’t it be wonderful to connect with others who share your interests and experiences? That is precisely why vertically oriented spaces were created. These areas are only for members that share a common industry. For instance, there are coworking spaces dedicated to creative occupations. These creative kinds (graphic designers, artists, and videographers) can coexist in the same space. Bear in mind that these industry-specific workspaces may include a mix of private and open workstations.

The history of coworking space

The concept of coworking dates back to the early 2000s, when a group of freelancers and entrepreneurs in San Francisco began sharing a common workspace. This was a response to the isolation and lack of community that many freelancers and remote workers felt, and the idea quickly caught on.

Since then, the trend has spread globally, with coworking spaces now established in major cities around the world. In recent years, the rise of remote work and the gig economy has further fueled the growth of coworking, with many businesses and organizations seeking out flexible, cost-effective and collaborative workspace solutions.

1995: Berlin’s first hackerspace opens. These community-run venues, forerunners of the current coworking space, drew coders, scientists, and software engineers and served as a hub for exchanging fresh ideas, comparing code, and holding social events and lectures. Apple released the first iBook in 1999. The device, one of a growing number of increasingly powerful laptops of the era, allows workers to be productive on the road. The classic and vibrant clamshell design was ubiquitous in coffee shops, study halls, and any other location where freelancers congregated to work.

2002—Vienna establishes an “entrepreneurs centre.” Schraubenfabrik was a shared, open-plan workplace located inside a run-down factory that nurtured a developing community of startups, freelancers, and architects long before the word “coworking” became popular. Schraubenfabrik continues to exist today, proudly proclaiming itself to be the “mother of coworking.”

2004: In Emeryville, California, a “work club” opens. When architect and designer Neil Goldberg couldn’t sell his warehouse in the Bay Area, he converted it into the Gate 3 WorkClub, a shared workspace for dotcom telecommuters in and around San Francisco.

2005: San Francisco’s first official coworking facility opens. Brad Neuberg, a software engineer, envisioned a new sort of shared workplace that would bring together individual professionals in a more social and productive environment than a home office. He founded the San Francisco Coworking Space at Spiral Muse, a Mission District feminist collective.

2008—The global financial crisis and subsequent recession fundamentally altered the nature of labour. With firms shrinking and job losses increasing, record numbers of people have opted for self-employment, changing the employment environment. Several unofficial coworking activities take place during South by Southwest. These spur-of-the-moment gatherings laid the groundwork for what would become the Global Coworking Unconference Conference. By year’s end, there were an estimated 160 coworking spaces worldwide.

2010—WeWork establishes its first location in New York. The 3,000-square-foot coworking space on the corner of Lafayette Street was known for its industrial look, wooden floors, and exposed brickwork—iconic design elements that can still be found in many WeWork sites worldwide today. The coworking movement has created a solid foundation, with new locations emerging nearly daily to accommodate the growing need for flexible office space.


Coworking spaces

20,000 +

The global coworking space market is expected to reach over 20,000 locations. Globally, the number of coworking spaces is predicted to more than triple to 40,000 by 2024.

Coworkers worldwide

3 Million

Since 2019, there will be more than 3 million coworkers worldwide.

Yearly Growth


Since 2010, flexible space has grown at an average yearly rate of 23%.

The top ten providers of coworking and flexible office space account for 36% of the market. When it comes to new space openings, New York and London are the world's leading cities.

What do coworking spaces offer?
What do coworking spaces offer

When you’re in a room full of motivated individuals, there’s an energy of productivity in the air. Slacking off is practically difficult. You will accomplish a great deal. There is a sense of belonging. It’s amazing how far above and beyond the community will go to help one another thrive in places with regulars and known faces.

Coworking spaces

Rather to signing a long-term lease, coworking spaces provide far more flexible terms. It’s ideal for companies with limited bootstrap funds, and even independent freelancers can discover reasonably priced choices.

Are coworking spaces worth it?

If you’re wondering about coworking, the best course of action is to give it a try. If you only wish to enter, complete your work, and then exit, and are concerned about any social obligations, do not be. It’s similar to the gym. Everyone is there to fulfil a certain purpose, and nobody will bother you if you are in the zone. If you’re willing to engage in conversation and be approached, you’ll meet some amazing local entrepreneurs and help establish a coworking community. If you’re experiencing a period of inactivity in your business, startup, app, blog, or anything else you’re working on… Spending time coworking may be precisely what you need to re-energize your business.

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