#Why Coworking Spaces are the Perfect Solution for Freelancers and Entrepreneurs

Coworking spaces have emerged as a much more viable alternative for freelancers and entrepreneurs. Freelancers no longer need to spend considerable time and money on setting up their home office. Entrepreneurs can respond to changing market dynamics without worrying about long-term rental commitments.

According to Statista, the pandemic is the primary reason behind the rise of coworking spaces.

As the above figure illustrates, coworking spaces are set to more than double by 2024 as compared to 2019. Islamabad is no exception to this global trend. If you Google ‘shared office space in Islamabad’, you will come across numerous options. If we go back a few years, the concept of coworking space in Islamabad was non-existent.

Why are an increasing number of freelancers and entrepreneurs ditching their traditional workspaces in favor of a shared space? This article aims to answer this question by delving into the benefits that such places offer. We acknowledge not all coworking spaces are equal and only the best ones provide these benefits.

Therefore, when looking for a private space in Islamabad for your business or freelancer career, carry out proper research. You must ensure that the coworking space is another run-of-the-mill private space. Go through the customer reviews, benefits, and membership options to get an idea about the service quality.

Coworking Space Benefits

1. Freelancer

Greater Work-Life Balance

A lot of people opt for freelancing as they perceive it to be a better career choice. An individual can work when they like, and they are not answerable to anyone but themselves. Unfortunately, freelancing is a very slippery slope. It is quite easy to end up working 24/7 as you juggle between different deadlines.

A freelancer remarked that they have clients from different time zones. As they are high-paying clients, late deliveries are not an option. As a result, the freelancer finds himself constantly on the laptop. This story is not unique to one person. Instead, it is something that every freelancer can relate to.

A coworking space ensures a greater work-life balance. How? When working from home, the line between home and office is blurry. You may be working and suddenly you need to complete a household chore. It can reduce your productivity, requiring more time to complete the work.

When working from a private space, the space is your office. You don’t need to worry about household chores or any other non-work task. It allows you to complete the work on time and ensure that you have enough time for yourself. The moment you enter the home, you can stop worrying about work.

Easy on the Purse

Undoubtedly, setting up a home office is not an easy task. Apart from the time, it requires considerable money. You must purchase ergonomic furniture, headphones, and more. You will also require a reliable, high-speed internet connection. If you are just starting your freelancing career, you may not have the financial resources for it.

On the other hand, you can get the same amenities at a fraction of the cost if you join a coworking space. The modern coworking spaces offer ergonomic furniture, high-speed internet, complimentary headphones, printing/scanning facilities, and a lot more. All these amenities come with no extra charges.

Growth Opportunities

Undoubtedly, there is a very less percentage of freelancers who work directly with clients. Most of them rely upon platforms like Fiverr and Upwork for their freelancing career. The problem with this is the market saturation. It can be challenging to stand out when there is so much competition.

On top of it, the client may never get to see your proposal or profile due to the search algorithms. A coworking space provides you with an opportunity to directly engage with potential clients. Who are these potential clients? They will be the co-members of the shared office space. They may even connect you with their own contacts.

Profession Appearance

If you wish to land high-value clients, you must appear professional. What better way to do it than by holding a meeting in a state-of-the-art meeting room? All coworking spaces offer access to a meeting room. A client may perceive that you have a dedicated office space which is a sign of success.

Indeed, no one would hire a freelancer if they were working from their bedroom, or if they can hear unusual noise during routine meetings. The primary reason is not the aesthetics but the impact such an environment may have on the work quality and the freelancer’s productivity.

2. Entrepreneurs

Brings Certainty

Unfortunately, the business environment is highly uncertain nowadays. There are regular reports of an impending recession and a lot more. When you add high levels of competition and ever-evolving customer needs, running a new business can be quite a challenge.

Unfortunately, paying high rent for the office space adds to this uncertainty. It is near impossible to break the lease without legal repercussions. Due to the uncertainty, a new business may find it challenging to pay the rent at all. It is where a coworking space comes in handy.

As we all know, coworking spaces have no long-term rental requirements. Instead, you can use them by the hour, day, or month. If a business is not earning enough revenue, it can downgrade to a lower package. For instance, they can downgrade from a private office to an open seating plan.

Cost-Effective

When selecting office space for your business, it’s crucial to consider all associated costs, not limited to the rent alone. This includes expenses for office furniture, network cabling, and any required design modifications. Additionally, you’ll need to account for monthly utility bills and possibly insurance.

However, opting for a coworking space eliminates these hassles entirely. The coworking space takes care of the infrastructure. In other words, network cabling is already set up and the space comes furnished. You don’t need to buy office furniture or pay for an internet connection.

Moreover, you won’t be responsible for utility payments or other miscellaneous expenses like coffee supplies. The top coworking spaces worldwide offer access to a kitchen where items like coffee or biscuits are available for free. You even have access to shared resources like a receptionist and a waiting area.

Growth Opportunities

As an entrepreneur, finding the right business connections can ensure long-term success. Within a coworking space, you will have access to diverse members. Some of them may be potential leads for your business. Others may be willing to work for you and some may partner with your business.

For instance, if you are offering robotic process automation services, you can easily offer the services to other co-members. After all, every business area has a need for RPA. Similarly, you may partner with another company to refine your RPA services or offer a new product.

Conclusion

This discussion confirms that the future of work lies in coworking spaces. Whether you are a freelancer or an entrepreneur, shared office spaces provide numerous benefits. They can help you cut down costs while maximizing your productivity. They even provide easy and direct access to potential clients.

Author Bio

Humza has spent the past seven years building a successful career in the coworking industry. With a deep understanding of the needs of modern entrepreneurs, startups, and small businesses, Humza has helped established productive and inspiring workspaces. Humza’s most recent project in this field is CocoSpace, a coworking space in Islamabad.

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