An Infographic Guide to Co-Working for Businesses

What is co-working and can it work for your business? Our infographic details how shared or flexible working spaces can benefit SMEs, freelancers and start-ups. We also cover what co-working spaces can bring to a commercial landlord's offering.

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Transcript

An Infographic Guide to Co-Working for Businesses text below View transcript

What is co-working?

A style of work that involves a shared working environment, yet independent activity. Unlike the typical office environment, a co-working space is generally shared by individuals from different organizations and professions'' Hera Hub

Impact of Technology

The future working space: has a much lower reliance on IT infrastructure due to cloud computing, wifi and the widespread use of laptops and smartphones.

35% of small businesses use Skype a primary communication service.

75% of UK businesses use at least one cloud product.

Considerations for Commercial Real Estate Owners & Landlords

There is a return in demand from industry for high quality office space and business confidence increases. 

Millennials will make up to 75% of the workforce by 2025. Characterised by a need for work life balance and indifference to corporate structure.

20m UK Employees were impacted when the Government announced that all employees can request flexible working. 

The number of freelancers increased by 82% between 2000 and 2011 in EU, which brought it up to over 8.5m.

Productivity, Creativity & Lifestyle

Increase in creativity - 71% of individuals working in co-working environments reported an increase in creativity.

Improved standard of work - 62% of respondents say that co-working had led to an improved standard of work.

Can focus better - 68% of people say they can focus better

Cost benefits and scalability

Average UK price pr day for drop-ins.

Recruiting people from other areas - Co-working is great if you want to recruit people in new geographic locations but don't have an office in the area

Co-Working saves employers money - With desk space in the UK available from on average £200 for 24/7 access and £168 per month for flexible business hour access.

Co-working space can help you to scale up your business. 

Benefits for Landlords

Overhead Costs - According to Deloitte, the future office is to be far more basic than in the past with fewer requirements for large IT infrastructures and cooling systems.

Potential Pitfalls of Co-working

31% of respondents had heard colleagues make derogatory comments about those working flexibly. 

27% think flexible working is inappropriate for managers. 

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