At Oriel Partners we are based in a co-working space called Central Working, a fabulous, dog friendly space near Victoria station in London. As a start-up business we wanted the flexibility and control to grow quickly without being tied in to a year (or longer) lease. We see real value in working in cool offices with a dynamic culture, which our team are happy to come to every day and where there is a community around us, making it feel like we are part of a much larger set up. Below we have listed some of the advantages of being based in a co-working space.
So many of the companies based in a co-working space are fast growing with a real entrepreneurial spirit. Meeting new people from different backgrounds is always a great way to grow and gain more knowledge and allows you to enhance your network by tapping in to new connections. Other companies may become your clients or may be open to future collaborations which can be beneficial.
Co-working space allows smaller or start up businesses access to a fully equipped work space, often in an upscale environment which would usually be out of the budget, with minimum initial investment and without having the stress of having to set up a private office from scratch. You will also be provided with a registered business address where post can be sent and you can be contacted. A co-working space will often have discounted rates with local business or other amenities in the area which you can benefit from. As well as this, there is often free tea and coffee making facilities to avoid the daily expense of the run to Starbucks! Some co-working spaces can also provide a telephone service where your phone will always be manned by a receptionist, always ready to give your clients a positive and professional first impression if you are not available.
Being in a co-working space allows your business to be agile, getting access to more or less space quickly, as suits the business needs. This means you won’t be paying for space you don’t need, or having to wait for a lengthy lease to expire before you can hire new staff.
Most co-working spaces will have smart meeting rooms and other facilities which are free to access for members. This can be great for conducting important meetings and allow your business to have the facilities it needs to create a good first impression.
Most co-working spaces have multiple locations in London, regionally or globally. This makes travelling easier as you will always have a base to work from which is all set up and ready for you to use.
Co-working spaces allow you to focus entirely on the running of your business, instead of being distracted with the hassle of managing your own office. It can also be great for short-term solutions and provides you with full flexibility to adapt as your business needs change.