8 Benefits of Coworking Spaces (and the Downsides to Weigh Up)

Coworking spaces have grown from a niche for freelancers into a mainstream option for remote workers, startups and even large companies. There are now about 42,000 coworking spaces worldwide, and more than 8,000 in the US alone. Their appeal is simple: a professional place to work, without the cost or commitment of leasing your own office.

Coworking isn’t right for everyone, though. Here are the real benefits, the downsides people don’t talk about, and how to tell whether it’s worth the money for you.

The 8 main benefits of coworking

1. Far lower cost than a traditional office

A traditional lease usually means a multi-year commitment, a deposit, furniture, internet, cleaning, utilities and insurance. A coworking membership bundles all of that into one monthly fee. You pay only for what you use: a hot desk, a dedicated desk or a small private office. For a solo worker or a team of two to ten, this is usually much cheaper than leasing.

2. Flexibility to grow or shrink

Most memberships are monthly, and many spaces offer day passes. You can add desks when you hire and drop them when a project ends, with no penalty for breaking a lease. This is why companies use flexible space too. Cushman & Wakefield reports that more than half of global corporations now use some flexible workspace.

3. A clear line between work and home

For many remote workers, the biggest benefit is psychological. Going somewhere to work helps you start and stop the working day, keeps work out of your bedroom or kitchen, and makes it easier to switch off in the evening.

4. Less isolation

Working alone at home every day can get lonely. A coworking space gives you everyday contact with other people, even if it’s only a chat at the coffee machine. Many spaces also host lunches, talks and social events to build a sense of community.

5. Networking and new business

You’re sharing a room with designers, developers, consultants, founders and freelancers. That often leads to referrals, collaborations, new clients or simply someone to ask for advice. Some spaces run member directories or Slack groups to make these introductions easier.

6. Better focus and productivity, for most people

A quiet desk, fast internet, a good chair and fewer household distractions all help. Many members say they get more done in fewer hours than at home. That said, open-plan noise works against some people. Pick a space with phone booths and quiet zones if you need deep focus.

7. A professional image

Meeting rooms, a staffed reception and a business address make a small business look established. Many spaces offer a virtual office plan, which gives you a business address and mail handling without a desk. Check local rules before using it as a registered company address.

8. Facilities you couldn’t justify on your own

Bookable meeting rooms, video-call booths, printing, kitchens, secure lockers, and sometimes showers, bike storage or a gym. It’s all shared, so you get access without paying for it all year.

The downsides to weigh up

• Noise and distraction. Open-plan areas can be loud, especially when people take calls at their desks.
• Privacy and confidentiality. If you handle sensitive client data, a hot desk isn’t the place for it. Book a private office or a meeting room for confidential calls.
• Costs that add up. Meeting rooms, extra guests, printing and parking are often charged on top of the membership.
• Hot-desking frustration. With a flexible membership, you may not get your favourite desk, or any desk, at busy times.
• Commuting. You’re back to travel time and costs, which defeats part of the point of remote work if the space is far away.

Types of membership and who they suit

How to choose a coworking space

1. Book a free trial day. Most spaces offer one. Go at the time of day you’d normally work, to see how busy and loud it gets.
2. Test the internet. Run a speed test and try a video call.
3. Check the commute. A cheaper space an hour away rarely works out.
4. Ask what’s included. Ask about meeting room hours, guest policy, printing, 24/7 access and the notice period.
5. Look at the community. A space full of people in your field, or of potential clients, is worth more than a slightly cheaper one.
6. Read the contract. Check the minimum term, how much notice you must give to leave, and price rises at renewal.

Is coworking worth it for you?

Coworking is usually worth it if you work remotely and struggle with focus or loneliness at home, if you need to meet clients somewhere professional, or if you run a small team that’s still growing. It’s less worth it if your home office already works well, if you need total quiet or confidentiality every day, or if the nearest good space is a long commute away. A sensible middle ground is a part-time membership, with two or three days a week in the space and the rest at home.