Coworking Space Post COVID-19
Only when a once-in-a-century global pandemic surfaces, do you really understand what it means for the world to ‘stand still’.
When 2020 started, most didn’t account for a virus that would destroy hundreds of thousands of businesses. One industry that immediately felt the effect of the changes last year brought was office leasing.
The workforce stopped commuting in mid-March, and most still haven’t gone back…
Coworking Pre COVID-19
Since their inception, alternative workspaces have come with a bit of a stigma. We know what you’re thinking; Are coworking spaces even effective? Didn’t WeWork fail…?
You may have first become familiar with the idea of a coworking space when WeWork (yes, the coworking startup whose failed IPO was the talk of Wall Street and Silicon Valley in 2019) got started back in 2008. However, coworking spaces have been around since 1995.
Coworking is an arrangement where workers of different companies share an office space, allowing cost-savings and convenience. This infrastructure is essentially a shared workspace that provides equipment, utilities, receptionist & custodial services, and in some cases refreshments!
This structure is beneficial to freelancers, telecommuters, or business owners who need less space than a traditional office building. However, over the years, it has become more and more common for small businesses to use these alternative workspaces. In more recent times, increased remote working and COVID safety concerns have driven interest even higher.
What does the future look like for coworking space Post COVID-19?
There is no getting around the fact that the pandemic took a serious toll on business and office space owners, including flexible space. And with only a small portion of people who have returned to the office, some may never do so.
As we navigate the post-pandemic climate, it’s hard to say if businesses will ever operate the same. However, flexible space is looking more feasible for big and small businesses that are trying to navigate the uncertainty of a dispersed workforce.
The attraction to flexible office space is that businesses can adjust to trends like the hybrid office, in which people go into their office only 1-2 times a week or for different reasons than they used to. Many companies are experiencing mixed feedback from employees that are aching to get out of their work-from-home walls, and others who thrive in it. Even more so, flex space offers in-person meeting spaces as an option when needed.
JLL, a commercial real estate company, predicts that 30% of all office space will be flexible by 2030. This prediction enforces the belief that the coworking business models will need to adapt to be able to respond to the expected growth in flexible working.
Overall, coworking space will be making a comeback for more reasons than one and will provide a home base for companies who are still trying to figure out what the future will bring.
Are coworking spaces still available post COVID-19?
Yes! At Business Central, we offer centralized coworking spaces with upscale amenities as a vibrant, and productive place to work. Our locations include Sacramento, Folsom, and Gold River where we offer a multitude of coworking, office, and meeting rooms.
Business Central offers entrepreneurs, freelancers, telecommuters, and work-from-home professionals the ideal plan to enhance their professional lives and businesses, improve the quality of work-life, and boost their bottom line.
Come and network with others during our community’s Friday morning breakfast, take advantage of a shared fax number, reliable WiFi Network, and preferred rates for rentable spaces.
To learn more about the benefits of coworking spaces, or to schedule a tour of one of our locations – contact us today!
