What is Coworking

Co-working spaces have been the priority for any individual since these spaces help them to work in a peaceful and a productive manner. 

The ambiance offered by these shared offices motivate employees and help them to focus on their daily professional goals without external distractions.

Moreover, being surrounded by thorough professionals originating from diverse industries acts as a driving force for such aspiring corporate candidates.

This is a cost-effective measure since it is more affordable than a traditional office. There are multiple facilities as well such as a personal space, conference rooms, coffee machines, printers, and any other accessory which is required.

There are mainly four types of co-working spaces available in the market. The major four types are mentioned below:

1. Hot Desk- Hot desk basically is a flexible working spot in any co-working environment which allows you to sit at any random seat and work comfortably according to your requirements. There is no fixed space allotted to anyone, and the seats can be easily changed.
   
   
2. Dedicated Desk- This seat in a co-working space is dedicated to a certain person. Here, no switching of seats is allowed, and you are supposed to work on a specific desk that has been assigned to you. Nobody else can sit on your seat as well.
   
   
3. Private Cabin- A private cabin is a space that is only dedicated to you and your team only. This space cannot be used by anybody else and allows you to work peacefully and privately with your team on your projects and strategies.
   
   
4. Meeting Room- Meeting room is a room in a co-working space that allows you to have a professional and important meeting with your entire team about your projects. It can either be booked within the co-working space or one can specifically book the meeting rooms for conducting seminars and other corporate meetings.

Coworking Spaces conveniently fulfil the various facilities you desire while working since you do not charge for any external facilities.

From coffee machines to printers, coworking provide all the necessary equipment for their customers in order to make their working experience smoother.

People are very pleased with this feature since they do not need to pay for these services and neither are they responsible for the maintenance of the same.

Furthermore, these spaces themselves efficiently maintain the management of these facilities. This saves quite a lot of money for the people and keeps their budget smoother.

Coworking spaces over time have become extremely famous and are now used by many start-ups and individuals alike to work on their goals and dreams in a very cost-effective manner. The growth and evolution of these spaces over the past few years is mentioned below:

1. In the year 1990, co-working was considered to be a hacker’s space and a group of people who were into hacking came up with this idea.
   
   
2. Then in the year 1995, many computer engineers made their first-ever hacking space where all of these people would come together and work on a particular hacking task.
   
   
3. The term Co-working was given in the year 1999 by a game designer named Brian Dekoven.
   
   
4. After the year 2000, these spaces have been able to meet the needs of small tenants.
   
5. The number of co-working spaces has doubled ever since the year 2006, and statistics say that it will continue doubling for the next seven years.
   
   
6. 2008 has also launched a system of membership that allows people to be able to visit different spaces free of cost.

An effective space like this is very beneficial for people who wish to work on their projects in a cost-efficient manner. The main three types of coworking growths are mentioned below:

• Plan To Expand:- According to a survey, 77% of workplace operators say they are planning to expand their business by opening more locations.
  
  
• New Locations:- In a recent survey, 32% of responder said they will have one location only, 38% said they plan to have from 2 to 3 new locations and 9% of the responders said they plan on having 8 or more coworkings
  
  
• Operating Locations:- In a recently placed survey, 52% of respondents said that they currently operate at least one coworking space. Additionally, 29% of respondents said that they run two-three coworking spaces located throughout different areas and 13% of respondents stated that there are a total of 8 or more coworking facilities managed by them.

A co-working space is a space that allows you to form connections that would help you in your future. On average, one person meets 1-4 new people every day at work. 

This keeps you motivated and happy. 83% of reports also state that by working here, one can never feel lonely. The operational cost of various companies can be saved by up to 30% by working in these spaces. 

84% believe in the fact that they feel more motivated by working here since they are always around people who inspire them to finish their own tasks as well.

Here there are about 55% of co-workers who feel like they are a part of a whole community since they are working in such a space that makes them motivated by being around so many people. 

About 31% of people feel the same way as well. This really helps in effectively working on your start-ups.

The people who choose to work here are of different personality traits as well. Some of them consider themselves to be extroverts. 

The extroverts in this community are around 30% of the entire strength of the people. A percentage of 22% are the ones that are introverts. This place helps them form connections with the extroverts and the remaining ambiverts.

The average size of these co-working spaces is about 7308 square feet. This is huge and needed since there are multiple businesses that have most of their work and projects done here. 

In addition, a majority of people choose a co-working space for their services since it is the most effective option. This is why the average capacity of these spaces is about 83 people. 

Co-working spaces are used by many major companies as well which is why their fame is increasing majorly in many parts of the world. Moreover, these spaces are affordable and make everybody feel motivated and encouraged to finish all of their tasks.

Some of the big companies that prefer using these spaces for their projects and work are mentioned below:

• Indiegogo- This is considered to be the biggest crowdfunding company in the world, due to which it has been able to raise up to 1.5 billion.

• Instagram- This is also a great start-up that was eventually bought by Facebook for about 1 billion dollars. This start-up was also started in a co-working space, because of which it has grown a lot of recognition and worked hard and efficiently.
   
• Uber- Uber is an extremely successful company that has now effectively started its business in around 80 different countries and about 800 metropolitan areas. This company also started its journey through co-working spaces and have followed that ever since.
   
• Ofo- Ofo is the Chinese bike-sharing startup which is based in London Coworking, Started in 2014, this startup has managed to launch its service in 21 countries. currently Ofo is largest bike-sharing company
   
• Spotify- Spotify is another amazing tech start-up that first began its journey in a co-working space. This company has become very famous and successful. The motivation and positive energy that these co-working spaces have is what makes a company successful.