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Why Businesses Thrive in Coworking Spaces

January 12, 2022

What are Coworking Spaces?


Coworking is very much an ideology as well as a concept. The model simply refers to a shared office area with multiple firms, team members, or individual employees in which practically all aspects are shared other than a designated office suite or a desk.  Coworking is beyond only sharing a lunchroom, wifi, or meeting room with other businesses; it can be seen as a concept which drives collaborative work, innovative thinking, and adaptability in addition to those shared facilities.


Coworking spaces, above all, are intended to facilitate employees with a safe, comfortable environment to work which is free from frustrations and disruptions that come with working from cafes and from home. Individuals are  provided with the finest of quality expertise and arrangements, as well as complete versatility and availability.

How Does Coworking Impact Business Growth?


A number of companies began putting into action plans to market their major corporate campuses in 2020, adopting remote work policies and selling off many of their corporate real estate holdings. This sudden rootlessness often leads to employees looking for dedicated workspaces and collaboration areas at coworking spaces. 


During the second half of 2020, many coworking spaces began seeing a return to Q1 levels following a temporary dip in the second quarter of 2020. Coworking is on the rise for everyone from small businesses to large corporations due to current trends such as work-from-home policies and geographic distribution.


Going into more detail, coworking impacts business growth through a few key aspects. 


  1. Workers in coworking spaces regard their jobs as important. 

Other than the work which they do, independent contractors select initiatives that they are passionate about. Coworking spaces are made up of people that work for a variety of businesses, expeditions, and initiatives. Engaging with individuals who do a variety of jobs can help to strengthen one's own professional identity. Being a part of a work culture where co-workers are expected to aid each other and  provide meaning fosters the diversity of employees as each of them possess different skill sets.


  1. Companies hold more control over their jobs.
    Coworking spaces are usually open around the clock, seven days a week. Individuals can choose to work long days if deadlines are coming up or they wish to demonstrate progress, or they can choose to take a long lunch break to visit the gym. They may decide to work quietly in a more secluded  environment or in an environment adapting a team setting with shared tables where interactions are encouraged.


  1. Their sense of belonging to a community is strong.
    In comparison to working from home for free or renting an unattractive office, communal spaces provide people with more opportunities for social interaction. Getting the right atmosphere is important to the managers of Unbox coworking spaces, and they go to great lengths to ensure that their spaces meet their members' needs.


  1. Socializing is optional.
    Individuals have the choice of when and how to socialize. The majority of people feel a strong sense of belonging to the community despite having less interaction than others with their co-workers.

Types of Coworking Spaces


Here are the nine basic types of coworking office space to give you a better idea of what's available:


Open/Conventional - Traditional coworking spaces aren't necessarily geared toward a specific type of company or individual, but rather emphasize an open, collaborative working environment. As a result, while these spaces have clear financial advantages, they do not always provide the same level of privacy as other types. 


High-End/Full-Service - A high-end coworking space will usually have more luxurious amenities than a more traditional one, as well as additional membership benefits. Industrious sites, for example, provide their members with commercial kitchens, food, and beverages. High-end, full-service coworking spaces, on the whole, offer luxury and convenience that set them apart from other types of flexible space.


Corporate/Professional - This type of coworking space is for tenants who are more corporate or professional. It will be more cost-effective than a high-end space, with a quiet, private, and professional atmosphere, as well as dimmer lighting and less energy consumption.


Private Workspaces - This type of flexible space is geared toward businesses and teams who are concerned that sharing space with other businesses will result in more negatives than positives. Private means a lockable door with your corporate branding, a private kitchen, and conference rooms that are exclusive to that team or company – all of which are available on a month-to-month basis, with terms as short as six months.


Other than these, other types of coworking spaces include, Minimal, Shared Space, Industry-Specific, Venture, Meeting Space and Virtual Offices.


What Makes Coworking A Better Solution Than Other Office Environments?


As some of the world's largest companies adapt to the gig economy and demand for flexible work arrangements, coworking spaces are exploding. Why? There is no single concrete reason why coworking is a natural solution to space needs, other than a perfect harmony of variables. Even better, it's a solution that benefits both employers and employees.


1. Low-cost workspaces in the face of rising real estate costs - The cost of commercial real estate is increasing. This has repercussions for businesses renting office space, even if it doesn't increase their monthly lease payment. It makes finding affordable workspaces more difficult, gives leasing companies more pricing power, and adds a significant burden to a company's balance sheet.


2. Eliminating workplace stigmas - The stigmas associated with the traditional office model still exist. As a project deadline approaches, managers peer over the shoulders of their subordinates. Employees feel bad about huddling around the water cooler. Work time is sucked away by chatty coworkers. However, the Unbox workspaces actively contribute towards eliminating workplace stigmas that would continue in any other traditional workspace. Employees are able to exist and express themselves more freely without the fear of being ostracized as the workspace consists of a diverse group of individuals from various backgrounds and lifestyles gather together.


3. Enough space for each employee - Even in offices with a variety of workspaces, accommodating every work style is nearly impossible. Individuals vs. groups, introverts vs. extroverts, and employees with non-traditional work schedules all require different amounts of space. The diversity of coworking spaces is one of their most appealing features.

Why Unbox?


Imagination and creativity are our guiding principles as a team of aspiring explorers and visionaries.  When we set out to design Unbox, our goal was to create a workspace that was unlike any other. Unbox is the ultimate choice for Coworking Spaces for three main reasons.


  1. Beyond a workspace - Our "Unbox" thinking aims to create innovative collaborations between startups, business leaders, and innovators. Innovation, intellect, and opportunity are all connected through our ecosystem.


  1. Flexibility and scalability - Regardless of your size or scope, we have a space for you. Your business needs are met with our flexible and scalable workspace solutions, whether you're a startup, digital nomad, or corporation. 


  1. Exceptional design - Innovators thrive in an environment of creativity that nurtures a culture of innovation. We approach complex problems by bringing together creative thinkers and technical talent in a collaborative and inclusive environment. Our mission is to solve complex problems by bringing together creative thinkers and technical talent.


It's not always easy to run a business. However, Unbox is here to ensure the success of your journey. We are more than just a world-class space with award-winning amenities, our priority is growth.


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