Posted by on November 6, 2018

For some, coworking spaces have been a standard part of life since as early as 2005. For others, the idea of a coworking space may still be relatively new and exotic. If you aren’t already very familiar with coworking spaces, you likely will be soon. The future of the coworking space is expected to be bright.

What is a Coworking Space?

Coworking spaces are shared work spaces that are designed to promote creativity and productivity in a casual environment. In these spaces, professionals from a variety of industries gather in one place to work on their own projects or businesses—and sometimes find ways to collaborate. Coworking spaces serve as a cost -efficient and flexible alternative to traditional office spaces. Many coworking spaces encourage their members to develop communities by hosting frequent social and networking events for them. Coworking spaces offer collaboration, ease, affordability, and flexibility.

What to Expect with Your Coworking Space 

Freelancers and entrepreneurs have been some of the earliest adopters of coworking space. According to some studies, more than half of the workforce could be made up of freelancers by 2020. This is a pretty staggering statistic and is indicative of a shift in the way people prefer to work. This rise in freelancers will only boost the already growing number of coworking spaces.

According to the 2018 Global Coworking Forecast by Emergent Research, the number of coworking spaces around the world is expected to rise from 14,411 to 30,000 between 2017 and 2022. The same forecast found that the number of coworking space members will grow at an even quicker rate. The number of coworking space members is anticipated to grow from 1.74 million in 2017 to 5.1 million in 2022.

This boom in coworking members may necessitate certain changes in the physical layout of coworking spaces. To meet demand, new coworking spaces are expected to be built over larger square footages. Spaces that have existed for several years may expand their size to accommodate the increase in membership.  Of course, coworking thrives on innovation and creativity. Coworking spaces will likely develop additional ways to handle the influx of new members.

Individuals and small businesses have been the driving force behind the growing popularity of coworking spaces, but more corporations are expected to hop on board in the upcoming years. As people grow restless with traditional office spaces, and as global connectivity keeps many employees on the road, coworking spaces offer an affordable and efficient work environment. In a survey conducted by Deskmag, 64 percent of responders said that they could better complete tasks on time when working in a coworking space. Large companies like Microsoft and IBM already use coworking spaces, and others are likely to follow.

Coworking Spaces at Cummings Executive Suites

Starting at just $30 per day, your company can utilize our coworking space, which fosters collaboration and company growth. Whether you have 5, 10, or 20 freelancers working for you, a coworking environment can accommodate them. Through our LAUNCH program, month-to-month plans and pricing makes it simple and affordable for freelancers to meet and bounce ideas off one another. Among the most exciting perks are the on-site amenities, and we offer much more than just a desk. Our coworking spaces come fully equipped with furnished lounges, kitchens, and reception areas.

Coworking has been an enthusiastic answer to a changing workforce. As both individuals and companies fully recognize their value, these space will likely become even more prominent.