networking

Questions People Ask About Coworking Space

What’s that buzzword coming from the background? Can you hear it? It’s COWORKING! You might say ‘oh, well what’s new about this?’ but you’d be shocked to know that only very few people know about coworking, especially its existence in Nigeria.

Surprisingly, some of these people are tech-savvy in their own rights. Being in the business ourselves, when having conversations about coworking at gatherings, we arouse people’s curiosity and thereafter comes a barrage of questions from listeners. Questions like - “Is coworking for me?”, “I have a team of X number of people, could we get a space to accommodate us?” and it goes on and on. These are by no means the only questions people have about coworking. There are a thousand and one questions people have but we’ve chosen to answer these few questions based on the frequency in which they appear in our FAQs.

What is the concept of coworking all about?

Coworking from the word itself indicates working with others. In its simplest form, a coworking space is a shared work environment that allows entrepreneurs from different walks of life to work independently or/and collaboratively, providing a leveled ground for them to discuss, share ideas and also leverage on the human capital available within said environment. In other words, coworking spaces are shared workspaces or offices that are used by various independent individuals as their principal place of business.

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How will a coworking space help my business?

A coworking space offers loads of opportunities that will help your business grow. In our previous post 5 reasons why you need a coworking space, we identified ways in which coworking can be of benefit to you. Some of them are: opportunities to network and build beneficial relationships, training, and learning opportunities and most importantly, affordability. Coworking spaces serve as convergent points for entrepreneurs and creatives with different levels of experience (beginner, intermediate and expert) and knowledge in their respective fields. As members of a coworking space, chances are you’d always bump into ‘the cool guys building solutions to world problems’. Coworking spaces frequently host training, workshops, seminars and other learning activities which help to inform entrepreneurs and small business owners on how they can thrive effectively in a competitive economy.

Is coworking meant for only technology-related business?

There are no absolutes in this case. Coworking A might decide to offer spaces to entrepreneurs and business owners while coworking B might be more interested in having just creatives in their space. When looking for a coworking space, find out about the kind of people they welcome into their space. And decide on a perfect fit for you and your business.

What are the cost benefits of coworking compared to renting a traditional office space?

In terms of cost benefits, coworking spaces are cheaper than traditional offices. They are often targeted at early stage startups who might not be able to afford the cost of renting an office space or entrepreneurs who prefer to have people around while working. In addition to this cost effectiveness, coworking spaces also offer a varied range of services such as mentorship, financial advisory, front desk services and funding sometimes where applicable.

Does coworking offer only temporary spaces for start-ups?

This depends on the modus operandi of the coworking space in question. However, coworking spaces house startups with the intent of helping them pass through the early stage. You rarely come across a coworking space that is large enough to offer a permanent space to SMEs, although. 

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Can I invite clients into a coworking space for meetings?

Most coworking spaces allow their members to invite clients for meetings as long as they abide by the usage policies. In fact, access to meeting rooms is a part of the offering. However, some spaces that have strict policies may not offer such meeting platforms. It is advisable that you contact a prospective coworking space to be aware of the kind of services it offers.

Have any questions this post hasn’t answered, directly or indirectly? simply drop it in the comments section below and we’ll be sure to provide our best answers.