" /> 5 Key Factors To Consider When Renting A Coworking Space
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Ever since its inception in San Francisco in 2005, the coworking movement has gained much traction worldwide. From budding entrepreneurs to established corporations, coworking is now being adopted as an alternative workspace solution for employees from varying industries and niches. The reason behind this is due to its proven benefits for both the company and its employees.

With the rise of this trend, the number of coworking office spaces for rent in Singapore increased. It has become an alternative for those who wish to ditch the rigidity of traditional office spaces and instead, revel in flexibility, a sense of community and collaborative efforts. So if you’re included in this category and are looking for an excellent place to get some work done, here are a few factors to consider before choosing the coworking office for your needs.

1. Infrastructures and amenities

To ensure a pleasant working experience, your work environment needs to be equipped with the necessary infrastructures and amenities. Apart from the basic furnishings such as desks and strong internet WiFi, you may even want to consider other essentials such as a DDI phone line, access to meeting rooms and video-conferencing facilities, and more. Thus, you’ll want to ensure that your office can not only house your employees, but is also fully equipped to support a smooth operation.

2. Available budget

Let’s face it; the budget is one of the most important aspects of office hunting. After all, your budget is what determines the limitations of your options. And whilst coworking spaces offer much-welcome flexibility in the rental costs, managing your budget still shouldn’t be neglected.

Memberships at premium spaces grant you full access to amenities packages and perks – some even with fitness and living accommodations! These memberships, not so surprisingly, can go for several thousand dollars a month , which compromises a significant portion of your budget. If you don’t have a big budget to work with, focus on spaces providing the best essential necessities,

Ultimately, you’ll want to prioritise what exactly you’ll need from your coworking space in order to ensure you get the best return on investment.

3. Location

Whilst it may be rather trivial, the location of your coworking space can easily influence your decision. Being located in the central business district may impress potential clients and networking opportunities may be aplenty. However, such offices also come with a hefty price tag.

You’ll want to ensure that your potential coworking space also comes with conveniences within walking distance, such as train stations, availability of shops and restaurants, parking facilities, and the like.

4. Duration of the stay

Since coworking spaces are typically rented out monthly, it’s best to plan how long you intend to stay in a particular office. As businesses grow, so do operation needs – after all, you’ll need adequate space to house your growing manpower. For business owners, planning for your enterprise’s future can allow for a smoother transition when the time comes. This also reduces the risk of negatively affecting the company’s day to day operations due to making hasty last-minute arrangements.

5. The community

After sorting out all the previous sections’ nitty-gritty logistics, the final factor to consider is the coworking space’s community. As the coworking movement’s primary feature, it’s essential to include the social aspect of coworking spaces in your decision. Coworking spaces are designed for collaboration and learning, and cross-functional working. As such, expect to work closely with other entrepreneurs, freelancers, digital nomads and startups as well!

When deciding if a community is a good fit, you can start with finding one where members of the workplace can help drive and hone your goals. For instance, if you’re the owner of a startup tech solutions company, sharing a space with designers and graphic artists could prove beneficial to the services you provide. This could occur in the form of influence in the direction of your solution’s user interfaces, for example. Of course, this works the other way around as well; question if your skills and business are a good fit for this community, and what are some of the things you can offer.

Besides the organic casual chats and collaborations, some coworking spaces offer leisure activities such as monthly networking dinners and even team volleyball for members to enjoy together. These events can bring big business advantages, so be sure to look into some of the regular events that the space offers, if they have any.

Conclusion

Coworking’s popularity is now recognised in all industries globally. With its numerous perks and benefits for both the employee and company, it’s no surprise that the movement is continually gaining traction up to this day.

At Greenhub Singapore, we wish to aid in your business needs and be a part of your success. Our serviced offices possess the perfect blend of all that’s typically required in a coworking setting: productivity-conducive atmospheres, natural and serene surroundings, modern amenities, and everything else in between. With our wide selection of startup offices in Singapore, you’re sure to find the one that allows you to work at your peak.