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The state of coworking

Working remotely is becoming more popular, and it’s no surprise that this has resulted in an uptick in coworking locations. Private offices are becoming increasingly pricey, especially when you consider the cost of rent hikes from building owners who have also been hit by the pandemic.

What Do The Numbers Say?
Coworking spaces provide a nurturing environment for businesses of all sizes. The number of new businesses founded in the third quarter has reached an all-time high, with almost one million startups launched since 2020 began. This rise follows two prior periods where startups being founded rose by 49% from the second quarter and 67%, from the previous third.

Entrepreneurs and Small Businesses Are Shifting Their Work Environment
With cheaper rent, and amenities like complimentary coffee, snacks, and even beer sometimes (all offered here at Village Workspaces by the way), these spaces provide everything needed by entrepreneurs, without them having to pay exorbitant amounts, just so their business can function properly – something we know many people cannot afford when starting in a brick and mortar or expensive office building.

Coworking Spaces Are Also Providing Welcoming Spaces To Special Groups
Coworking spaces are a hotbed for the entrepreneurial community. Not only do they provide startup opportunities, but also an environment where freelancers can thrive and grow together among other like-minded individuals. The growing number of niche spaces being invested in that cater to specific groups such as women-only and LGBTQ+ spaces will also lead to profitable opportunities especially with small businesses increasingly diversifying their teams.

Coworking Still Struggles To Reach Their Target Audience
Many small businesses are unfortunately unaware that coworking spaces exist beyond just the IT industry. This is attributed to the misconception among these firms’ owners who believe they only work on their devices while at the office or home, but this couldn’t be farther from reality.

Coworking spaces provide a space for businesses to interact with others, to learn and grow from their experiences, and to have the opportunity to team up with other businesses to create opportunities that may not be possible if you’re working alone.