Co-working spaces boom in popularity

Co-working spaces seem to have all the things you liked most about working with others without any of the annoying drawbacks. 

Co-working spaces, which include business incubators, are increasingly common because of the many benefits associated with sharing an office environment – the biggest of course being the money you save. They are also popular with major businesses as secondary locations – especially in sprawling areas like South Florida.

Co-working spaces have also been shown to increase creativity, networking and collaboration with others. While the benefits of communal workspaces are many, there are a few drawbacks as well.

THE PROS

” Collaboration: Businesses in co-working spaces are incredibly diverse, ranging from the startup, freelancer, and artist to the small business and large multinational. They typically all have this in common: they want to learn from other entrepreneurs, and grow their business. Collaboration is a natural by product.

Affordability: Office sharing generally costs substantially less than renting a traditional office space and makes more economic sense if you are a start-up with a small budget, or a freelancer just starting out. Aside from the money you’ll save, you won’t be forced to sign a long lease.

” Amenities: Co-working spaces give you access to amenities that you may not otherwise be able to afford. While Wi-Fi and access to conference rooms are fairly typical, other more luxurious amenities can include gyms.

” Educational programming: Many co-working spaces provide educational seminars and lectures that appeal to their members or customers. Depending on the particular industry or niche, a workspace may host seminars for entrepreneurs or lectures featuring local business leaders. 

” Networking: Communal work environments naturally lend themselves to more interaction and socialization which in turn leads to effortless networking.

THE CONS

” Distractions: The socializing aspect of co-working spaces can work for or against you depending on your personality and the manner in which you work. If you are the type that is easily distracted, a co-working space may not be for you. 

” Conflicts and Competition: Your co-working environment should generate a lot of positivity and productivity but disputes break out in all kinds of environments. For instance, if you find yourself in direct competition with those in close proximity to you – a conflict could arise. 

” Cost: Although co-working spaces are generally more affordable than private spaces, some co-working spaces can still be pretty steep. The range is generally $300 to $600 a month but sometimes they can run as high as $900. 

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Co-working spaces in South Florida

LAB Miami – An incubator by LAB Miami and the Knight Foundation https://thelabmiami.com/ 

Pipeline” A high-design shared workplace in Miami https://www.pipelinebrickell.com/ 

Venture Hive – An incubator in Miami
www.venturehive.com 

WeWork – Coming soon to Lincoln Road
https://www.wework.com/locations/miami/lincoln-road

Axis Space – A co-working space on Las Olas in Fort Lauderdale  https://axisspace.com

Startup Delray – Supporting entrepreneurship in Delray Beach www.twitter.com/StartupDelray

FAU Tech Runway – A public-private partnership fostering start-ups https://techrunway.fau.edu/ 

Miami Entrepreneurship Center – Miami
https://mec261.com/ 

Miami Innovation Center for Entrepreneurship (MICE) – Incubator, Coworking Space, Education
https://www.261miami.com/

 

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