Renting office space can be a costly exercise for any business. Add to that the cost of fibre connectivity, electricity, and cleaning staff and everything starts to mount up. Then there’s the layout to consider, which ideally includes comfortable furniture, decent airflow and lighting.
The good news is that this process doesn’t have to turn into a money pit. Especially for start-ups and SMEs bound by a tight budget. South Africa’s shared workplace market has grown significantly in the last ten years, and by renting a coworking space (like ours!), teams can ease the stress of unnecessary costs. Here are all the benefits of coworking for SMEs:.
But first, what is a shared workspace?
Shared workspaces, also known as coworking spaces, are serviced offices occupied by multiple companies, freelancers and working professionals based within a range of industries. Since these entities or occupants work near or alongside each other, coworking spaces allow them to network and collaborate while reducing costs.
Here at Venture Workspace, we have three coworking spaces at Claremont, Constantia, and Somerset West. Our facilities consist of fully serviced, ready-to-use spaces for SMEs. We also offer a range of desk and office options depending on your package. Along with value-adds services, including fibre connectivity, access to printers, photocopiers, support staff, and a fully-equipped communal kitchen. We also provide safe and secure parking – a real bonus here in Cape Town.
What are the benefits of coworking for SMEs?
The shared workspace market in South Africa has grown significantly in the last ten years, with local entrepreneurs beginning to take the plunge. The overall benefits of coworking spaces for SMEs include:
- Work-life balance
A major perk of coworking spaces is how they support hybrid working models. The overall environment of coworking spaces have proven to enhance employee performance, work-life balance, and overall company culture. According to the latest Cisco Global Hybrid Work Report, 86% of South African employees surveyed felt hybrid and remote working had improved all aspects of their well-being, which was above the worldwide average of 78%.
- Flexible lease agreements
A significant benefit of renting a shared workspace is that you can rent desk space or a private office. The length of your occupancy can be for as long or as short as you need. Forget rigid and costly commercial contracts. When it comes to coworking, SMEs have immediate access to all-inclusive packages tailored to suit their individual needs. So, as your business grows, your office can grow too.
- Cutting overhead costs
Coworking spaces generally cost much less than renting and furnishing your own private office space. These well-equipped spaces are thoughtfully designed with all the mod cons you could want and need. Just picture it: fibre, filtered water, furniture, equipment, kitchen facilities, air conditioning, and support staff. If you’re looking to cut down on operating expenses, there’s really no better option.
Due to their prime locations, shared office spaces allow SMEs to acquire reputable business addresses. Our Venture Coworking spaces are strategically positioned in the suburban areas surrounding Cape Town. They’re easy to access and within arm’s reach of shopping centres, gyms, and banks.
- Networking perks
Renting a shared office space is also an excellent way for multiple SMEs and local entrepreneurs to collaborate. Forging valuable friendships with and nurturing business contacts is crucial to the success of most growing businesses. Coworking spaces provide a platform for this to occur organically. You’ll have several companies around you that you can utilize, learn from and even offer your own services or products to.
- Amenities included
The benefits of coworking for SMEs also extend to services and amenities they receive without the stress of setting it all up or dealing with technicians. With less time spent installing desks, fixing connectivity issues, or dealing with loadshedding (we have generators!), teams can focus solely on their tasks. Coworking also guarantees ongoing maintenance and cleaning services. This allows you and your team to arrive ready to hit the ground running.
For remote workers, freelancers, and SMEs, Venture Coworking offices provide a seamless solution which encourages growth and development. These interactive hubs are quickly becoming the go-to option for many Cape Town start-ups, especially those wanting to move in and get to work straight away. For more info on our packages, contact our team here.