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5 Reasons Coworking Spaces Are Great For Growing Your Business

Business Tips

Hub Australia

5th November 2020

5 min. read

Coworking spaces in Australia are designed to be as dynamic as the people who use them, offering levels of functionality and flexibility that aren’t often seen in typical offices.

As your business grows, a shared office can become a great option.

A flexible workspace or coworking space offers the benefits of a centrally-located business at a much more affordable price than a traditionally-leased commercial office. It’s always best practice to keep expenses low, especially if you’re in the early stages of your business or working to grow your team.

If you need an office or core space but don’t have the money or energy to spend on the administrative duties that come with running an office, coworking may be the best solution for you.

Read more: How Flexible Workspaces in Melbourne Can Save Your Business Millions

1. Low start-up costs

Coworking spaces offer freelancers and entrepreneurs a chance to work in a fully-equipped office without worrying about the costs of establishing their own office.

By using a shared space like Hub Australia, you can operate your business without needing to budget separately for fit-out, fire insurance, office equipment, utilities, and other expenses that come with starting a business.

Even if you can afford it financially, the time spent sourcing equipment and furniture, talking to contractors, and getting permits is a precious resource that should go to building your business.

With a shared coworking space such as Hub Australia, everything is included, so you can spend more time focused on your business.

Read more: 7 Ways A Small Business Community Can Help You Grow

2. Flexibility

It’s extremely easy to scale a shared office space as your team grows – with custom flexible agreements, your initial term could be designed to suit a one-person business, a team of three, or a company of 15, and allow you to upgrade your space as required.

Hub Australia’s Southern Cross location also offers premium serviced meeting spaces to accommodate up to 12 people, and a conference room for bigger groups or events.

At each Hub’s site, every member will find lounges, phone booths, mail services, and a diverse range of workspaces to use.

3. Central location

Ensure you’re within reach for your clients – many shared offices are centrally located in Australia’s key cities – Melbourne, Adelaide, Sydney, and Brisbane, with access to all a CBD offers.

Renting your own private office may force you to sacrifice location quality for a more affordable monthly rent and utility cost.

By moving your business into a city coworking space, you get a highly-visible address in the heart of the central business district, helping build trust with your clients and allowing you to attract top staff while offering access to transportation, cafés, gyms, and the city’s best shopping.

4. Networking opportunities

Renting space in a shared office means surrounding yourself with goal-oriented and high-achieving entrepreneurs, teams, and businesses, making every day is an opportunity to network, build genuine connections, and learn more.

Being part of a coworking community means you are surrounded by potential partners, clients, and mentors – giving you the ability to easily outsource to great talents when you need help with specific projects or time-sensitive tasks.

5. Promotes work-life balance

‘All work no play’ is a phenomenon you’ll never experience in a shared office.

Coworking spaces promote healthy work-life balance by being centrally located and close to public transport, as well as providing amenities to de-stress and recharge during a day of work.

Some shared offices, including Hub Australia, have dedicated spaces for exercise, meditation, prayer, or even just a moment to relax.

Read more: How To Attract Amazing Staff To Your Small Business

Find out if coworking is the right choice for you, book a tour of one of our dynamic spaces in Sydney, Melbourne, Brisbane, or Adelaide and we’ll show you how coworking can help your business thrive.