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  • Co-working Space Basics

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What Exactly are Coworking Spaces?

Coworking spaces function much like general offices but without the usual dryness. A Coworking space will almost always be buzzing with life and excitement. Everyone who works in these spaces has chosen to be there because they like that particular environment and the unique kind of culture they provide.

The basic idea is that you are sharing office space with people who are not necessarily your co-workers. Not only are these spaces cheaper, but they also come with great amenities on top of the various different professional you will meet and work.

Imagine a cross between an office and a coffee shop. That is basically what a Coworking space is!

Who Might Utilize one?

There are many different types of business that use these spaces. There are advantages for each of them:

Freelancers
Freelancers typically work from home. Coworking spaces offer them the ability to work alone with people, rather than completely alone. You still have your flexible work schedule, but you can work amongst other people as well.
Start-Ups
Such office spaces provide start-ups with a cheap, flexible workspace option. Most start-ups would not be able to afford general office space, so this is perfect for them.
Small Businesses
Many small businesses enjoy the use of such spaces as they require little to no setup. They tend to cost no more than a typical office, even if you rent the whole place out. Small businesses are the most common users of coworking spaces.
Large Organizations
These organizations are just starting to get into using such working enviroments. The sheer amount of potential coming from them is just too much to pass up. The spaces allow them to have multiple locations for workers to go to while also cutting back on office space costs.

Best Co-Working Spaces in Singapore (2021)

Co-Working SpaceBest For
The Great RoomBusiness MeetingsApply Now
The Hive Flexible Rates & Packages Apply Now
JustcoCheap RatesApply Now
O2WorkEco-FriendlyApply Now
Found8NetworkingApply Now

What are Coworking Prices for Singapore in 2021?

Shared desk
A shared desk will cost anywhere between $180 to $580 per month.
Private desk
A private desk will cost between $300 to $880 per month.
Private Office
If you want an office to yourself, you will pay a predetermined price per square meter of space leased out. This varies depending on the space you choose.

What Factors Affect Coworking Costs?

Length of Time Leased
The longer you rent a space, the smaller amount you will have to pay on an average daily basis.
Location
Areas that are more in demand will likely also be more expensive.
Extra Amenities
Spaces that offer extra storage and other unique amenities will also come with a slightly higher price.
Design
Technically, this is also a demand factor. The nicer a space is, the more people will want to use it. The more popular a space is, the more it costs.

What are the Primary Benefits of Coworking?

Motivation
Working in a space that everyone chose to work in brings about a different motivational atmosphere than most work offices have.
Socialization
Working together with other equally-motivated workers provides you with the means to make good friends while still getting your work done!
Flexibility
Instead of needing to rent an office space for a long period of time, you can stay in a coworking space for a short time. You can even rent a space for a single day if you really need to!
Networking
Meeting new people via these spaces will likely unlock new networking paths for you as well. You’re bound to find like-minded businessmen and women while you’re there!

Location

Obviously, you need to choose a space that conveniently located. There isn’t much point in renting one that forces you to travel a long distance just to make use of it, is there? If you travel by car make sure the space provides parking.

Cost

Your ideal space should meet your desired monthly budget. Simply dismiss spaces which are too expensive. This will greatly limit the number of options you have, making it easier to choose from them.

Required Space

How much space do you require? Do you need separated offices for you and your staff or would an open area with a meeting room suffice? Every space is designed differently. It is therefore a good idea to book a tour with preferred provider and review options before deciding on a space.

Social Community Aspect

You may want your office space to have an extended social and/or community aspect to it as well. If you are looking into renting one consider the relevancy of other tenants to your business and if the space runs regular community events and gatherings.

Duration

Another major factor is the time you plan to stay in your respective Coworking space. You may only want to be there for a few days. Then again, you may wish to rent that space for many years. Make sure you determine the rental length before deciding.

Required Amenities

Most Coworking spaces have essential amenities, such as WiFi, printing, pantry etc. However, if you have any specific amenity requirements, be sure to include them in your search filter.

Who Benefits from Coworking?

Many different groups can benefit from Coworking. Anyone from a single freelancer to a large company can make good use of it. Many thought that Coworking would only fit small businesses. However, time has shown that it’s popular with many different types of professionals.

Why Should I Use a Coworking Space?

Coworking helps you in many aspects of your work from networking to establishing a brand-new business. It provides you with a professional work environment where you can achieve whatever goal you have with as much efficiency as possible.

What Should I Consider When Choosing a Space?

You should consider a location which is in close proximity to your home and that of your colleagues if you have any. The other main factors to consider are available facilities and pricing, as perks and benefits vary based on provider.

What is Different About Leasing Terms?

One of the major differences is the duration of your lease. Instead of years, most leasing terms tend to run on an hourly, daily, or monthly basis. On top of that, you can typically lock in your lease within a month or so.

The rent cost is also a little different from conventional leasing options. You pay a set amount based on the square foot area that you will utilize.

How Can I Find the Perfect Space?

The easiest way to find one is by comparing the most popular providers via ROSHI.

Typically, this will help you find the ideal co-working space.

You could also ask someone you know who has used one before or if you don’t know anyone inquire with other small businesses which are currently renting one. It is best to ask businesses that operate in the same space or industry as their business requirements will be similar to yours.

Check out our tips & hints which may help you decide on the right space for you.

Have a question? Ask us about anything!

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