Should you be Thinking about Renting a Coworking Space?

By admin On Aug 6, 2018

If you’re someone who works from home, you may be wondering whether your productivity levels are as high as they ought to be. It’s hard to gauge how hard you are working when you can’t compare it to others, and you may actually be spending more time engaging in pointless procrastination activities than you think. There is also the loneliness factor to consider for those who work alone, and a lack of social contact on a day-to-day basis can be detrimental to our health. If some of these things ring true to you, you may want to consider renting a coworking space.

Contents hide

1 What is Coworking?

2 Why is Coworking Beneficial?

3 Technology is set to boost the Potential of Coworking Spaces

What is Coworking?

Coworking is essentially the idea of creating a shared work space or office-like environment for individuals who tend to work alone. Often, it can be similar to what you would find in a regular business, except the people within a co-working space are usually not employed by the same organisation. The idea of coworking appeals to people who normally work in isolation, such as work-at-home professionals and independent contractors. The draw for many is in the synergy which can occur from working in such spaces, as they are likely to meet people from other businesses who they may have never come across before.

Companies are taking this idea and providing a range of amenities for what they describe as digital nomads. Rent24 is a provider of coworking and co-living spaces, and they have locations in cities across Europe and the US, including in Berlin, London and New York, for professionals looking to cowork and cohabit with likeminded workers. They have taken the core concept a step further and help connect related startups and staff with each other by organising regular networking and social events.

The idea of coworking spaces is a fairly recent phenomenon, partly because the internet age has brought about a rise in the number of self-employed freelancers. Brad Neuberg is credited with starting the coworking movement in San Francisco in 2005, and his idea was to combine the “independence of freelancing with the structure and community of an office space.” Between 2006 and 2015, the number of coworking spaces in the world doubled each year, and there are now more than 14,000 in the world today. The number of people using them is expected to rise to 5.1 million by 2022. Now, there are many new companies such as Rent24 in an expanding market, helping individuals to synergize their ideas.

Coworking environments typically have desks and tables for freelancers to set up their laptops, but they also have communal areas for sitting and relaxing with a coffee. This allows for some social interaction, which can be essential for staying sane and keeping motivation levels high.

Why is Coworking Beneficial?

Research has shown that people working in a coworking space are 84 percent more engaged and motivated than those who work alone, and 83 percent of respondents felt less lonely. 68 percent of people working in coworking spaces said they were able to focus better while coworking, and 64 percent are better able to complete tasks on time.

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For business owners, coworking is an excellent way to meet others from different sectors and either collaborate or perform transactions with them. Some companies such as Unilever have seen the potential of this and begun to offer up their own co-working spaces for entrepreneurs to inhabit. They then position some of their businesses in the same environment so that employees can keep their ears to the ground about developments in the industry, while also networking with other business owners.

One of the big appeals of coworking for freelancers is that it helps to separate their work and home life. When working from home, some people can go a bit stir crazy and feel trapped. That’s where services like those offered by Rent 24 come in. Leaving the house every morning to go to work helps them to differentiate between their two existences. Indeed, 60 percent of people feel more relaxed at home after switching to coworking.

Technology is set to boost the Potential of Coworking Spaces

Coworking is hugely beneficial for expanding business networks, and now technology is set to enhance that aspect even further with the aforementioned Rent24 currently looking to innovate and expand further by incorporating blockchain technology.

Robert Bukvic, CEO and founder, envisions the new platform to be meritocratic: “All users have equal opportunities to use and advance on the platform – not only locally, but also globally. The level of reward that users receive will be determined by the community itself and the complexity of the task. They decide what value to allocate to a service.”

Blockchain is a new way of storing records, and anyone is able to see the transaction history. Using blockchain technology, Rent24 aims to develop a platform which will help connect members on a global scale. From this platform, they will be able to contact other users, exchange services, share knowledge, and apply for funding. A matchmaking system which uses artificial intelligence will also propose tasks, projects, and collaboration for the users.

In regard of Bukvic’s statement Co-founder Damian Leich adds: “Until now, blockchain technology has not really been suitable for everyday use due to the time delay during the transaction and small scope of spending opportunities

They are hoping to fund this new innovation through a token sale which will begin on August 1^st this year, and the aim is to achieve sales in excess of $500 million. If the plan comes to fruition, it could totally change the game in the coworking industry and enhance it tenfold.

Coworking is growing each year, and many freelancers who switch to the spaces are finding greater success than they had from working at home. The benefits are plain to see, and new technology is set to make the experience even more advantageous. Switch to a coworking space today, and you will soon reap the rewards.