Benefits of Coworking Space in Singapore
Coworking spaces are offices occupied by freelancers, startups, and entrepreneurs. The purpose of the space is for people to get together, be productive members of society, network with other professionals in their fields, share ideas and knowledge while still having the freedom of working independently on their own schedules. It has been seen worldwide that coworking spaces are beneficial to both small businesses and large organizations with many employees between different locations.
Common shared areas expected in a coworking space include: collaborative workstations or desks, meeting rooms, phone booths/cubicles, an event room, lounges & cafes coordinating with local eateries, copiers/printers/scanner copiers, fax machine(s), and video conferencing equipment.
The benefits of coworking spaces for businesses are:
Be part of a community – When businesses are a part of a coworking space in Singapore, they are automatically plugged into an instant community of professionals who can offer advice, mentorship, and collaboration. Coworking spaces foster a culture of idea-sharing and networking that is beneficial to all members.
Supported by infrastructure: Coworking spaces come with all the amenities that small businesses need to succeed, such as office equipment, meeting rooms, and Wi-Fi. This eliminates the need for companies to invest in these resources themselves, which can be costly.
Flexible lease terms: Most coworking spaces have flexible lease terms, which is beneficial for businesses in the beginning stages and need to scale up quickly or have a short-term project.
The benefits of coworking spaces for freelancers, entrepreneurs, and startups are:
Flexibility: A shared workspace gives freelancers options for location, hours of operation, and amenities. Freelancers also benefit from being able to work in a collaborative environment with their peers.
Networking opportunities: Coworking spaces offer networking opportunities through coworking events held at the space itself where professionals can meet one another and share ideas . This allows for cross-pollination between different industries creating new ventures.
Financial stability: Coworking spaces typically come equipped with copiers/printers/scanner copiers, fax machines, and video conferencing equipment. These tools allow freelancers and entrepreneurs to conduct their business without having to purchase them themselves.
Unlimited growth potential: Coworking spaces typically offer all-inclusive packages that include use of the common areas such as conference rooms, copiers/printers/scanner copiers, or even just a desk with Wi-Fi access. This benefits startups that need affordable space to scale up quickly.
There has been recent news in Singapore regarding the overcrowding of coworking spaces due to an overload of demand for these shared workspaces. While this could be seen as a downside to the coworking phenomenon, it can also be viewed as a sign of success – that there is a demand for these types of workspaces which are beneficial to all members.
The way that coworking spaces are being utilized in Singapore right now is an excellent example of how they should be used – by having a variety of businesses, freelancers, and entrepreneurs working side by side. This allows for idea sharing and collaboration between different industries, which can lead to new ventures. Coworking spaces provide an excellent environment for startups who need affordable space in order to scale up quickly.
With a solid foundation in technology, backed by a BIT degree, Lucas Noah has carved a niche for himself in the world of content creation and digital storytelling. Currently lending his expertise to Creative Outrank LLC and Oceana Express LLC, Lucas has become a... Read more