Coworking spaces create a welcoming environment for entrepreneurs, startups, and freelancers, fueling growth and innovation in the city. They also promote social inclusion and diversity in the business sector, which has a positive impact on the development of the city’s economy and society as a whole. In this article, you will learn about trends in the development of coworking spaces and their impact on the development of the city. Successful entrepreneurship development projects such as Diia.Business center in Lutsk opens up many opportunities for enthusiasts from different fields of activity.
What Is Coworking
Coworking is a space where anyone can rent a temporary or permanent workplace. Today, there are several formats of coworking spaces. They may differ significantly or to a lesser extent in the principles of organization and use of workplaces. And also by specificity, when the space is equipped to meet the needs of specialists in a certain industry. For example, IT coworking spaces, beauty coworking spaces, coworking spaces for psychologists, etc.
A traditional coworking space is a large open space with accompanying rooms for negotiations, telephone conversations, a kitchen, and recreation areas. Service offices can be organized on the basis of coworking spaces or separately – spaces for team work. They are fully equipped offices. Unlike simply renting space in a business center, tenants of service offices do not receive empty square meters, but a thoughtful solution – move in and work. At the same time, the tenant is not burdened with administrative and economic issues.
The built-to-suit format, similar in usage scenarios to coworking spaces and service offices, involves equipping the space from scratch to meet the needs of a specific company. It allows you to organize and use space as efficiently as possible. This is especially relevant now, since many companies, for objective reasons, have restructured or are in the process of transitioning to a hybrid format, when some employees work remotely or combine remote work with periodic visits to the office.
A format that is opposite in scale and approach is pop-up coworking spaces, workspaces on sites that are not initially office spaces. For example, in private residential premises, hotels, and restaurants.
All these formats will develop and transform in the coming years. The industry will have something to offer both large teams and individual specialists.
According to the Coworking Space Global Market Report from The Business Research Company, the global coworking market has a CAGR of 18.9% in 2022. The market size today is estimated at $16.17 billion, and by 2026 it will almost double – to $30.36 billion.
Pros of coworking:
- working, creative atmosphere;
- comfortable workplace;
- all necessary office equipment;
- the legal address of the place of work;
- possibility of renting a meeting room for meetings with customers and partners;
- support staff services;
- new useful contacts, mutual assistance from specialists in different fields;
- affordable price compared to office rent;
- you can choose a convenient rental period – from several hours to several months;
- fees for using the Internet, water, and electricity are included in the rental price;
- many coworking spaces operate 24 hours a day;
- the opportunity to improve professional skills free of charge by attending courses, lectures, and master classes organized by the landlord;
- parking places.
Users Of Coworking Spaces Of The Future – Who Are They?
Trends in the development of coworking spaces until 2030 will be determined by generation Z, zoomers. Today they are 12-27 years old. Distinctive features of zoomers, important from the point of view of organizing and managing coworking spaces:
- they prefer digital professions and remote work – the scale of the digital nomads culture is already obvious;
- they are not attached to things and locations – choice is more important than consistency, car sharing is better than a personal car, coworking is better than an office;
- they expect personal interaction – they want to receive payment reminders, event digests, and offers based on user characteristics;
- they are sensitive and susceptible to stress – it is important that the coworking infrastructure has areas for relaxation and activity, and the furniture is ergonomic;
- they value the emotional and associative connection with brands – not only the quality of the product is important, but also the company’s values;
- they trust opinion leaders from their close circle – when choosing a product or service, they rely on reviews and recommendations from friends;
They strive to be involved – they gather in the community, participate in loyalty and affiliate programs, and react positively to incentives.
Coworking Development Trends Until 2030
There is every reason to believe that by 2030, coworking spaces will become not an alternative, but a standard in organizing the work environment. Among the most significant trends that will influence this transformation.
- Automation. Introduction of digital space management technologies. For example, access via QR code or Face ID, without operator control.
- An association. Development of networks of coworking operators with an increase in the number of locations, united coworking marketplaces, and affiliate programs.
- Design. The emergence of new interior solutions, and a variety of infrastructure facilities based on coworking spaces.
- Networking. Development of professional communities of coworking users, joint recreation, training, and holding events.
- Social responsibility. Introduction of green technologies, charity, sponsorship, and attention to quality of service.
- Additional services. Various special offers for the B2C and B2B segment.
- Multi-format projects. Coworking spaces as part of brand ecosystems.
Among the most interesting and developed coworking spaces, you can note:
- WeWork Soho Sheraton House, London (England);
- Village Underground, Lisbon (Portugal);
- Startup Sauna, Espoo (Finland);
- NapLab, Bangkok (Thailand);
- Crew Collective & Cafe, Montreal (Canada);
- Third Door, London (England);
- Hera Hub (USA).
Coworking spaces can become an important catalyst for entrepreneurial activity in the city, promoting innovation and the dynamic development of the business community. This can lead to the creation of new jobs, improved infrastructure, and enriched city life. We recommend that you evaluate and support NGO Algorithm of Actions projects aimed at developing the business environment and preserving culture in different cities of Ukraine during the war.