Coworking

economic-dictionary

The concept of coworking refers to the shared workspace where several companies and professionals carry out their activity.

Translation from English to “cotwork” and refers to the physical shared work space, where several small companies, startups, freelancers or independent professionals can carry out their activity in the same place.

Characteristics of a coworking space

There is a space manager who organizes the coworking activity, tries to help coworkers, seek opportunities among its members and build trust.

It has common areas where you can be with other coworkers, meet, celebrate events and establish synergies between entrepreneurs, while each has its own independent space with internet connection and office furniture. It depends on the type of coworking, they may all be in the same room or in separate rooms.

They also function as a center for business activities since business networking and training events are usually organized within the coworking facilities.

Advantages of coworking

Among the advantages of a coworking space are:

  • It allows entrepreneurs to save costs and rent a workspace at a cheaper price, essential when starting a business.
  • Flexibility of duration and fees when signing contracts, which allows adapting to the contingencies of newly created companies and freelancers.
  • Possibility of establishing synergies with other coworkers, companies and entrepreneurs who are working in the same space
  • Flexibility of entry and exit times as if it were your own office, which allows work-life balance.

Disadvantages of coworking

Of course, not everything that coworking offers are advantages, here are some disadvantages:

  • Less privacy when making calls or meetings.
  • More noise and less silence so you can concentrate.
  • Weakest corporate image in the face of clients and large companies, although in the entrepreneurial ecosystem it is the most common and is not taken as a negative meaning.

Coworking spaces and their particularities allow us to adapt to the needs of entrepreneurs and freelancers who are starting their activity and are very useful.

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