According to Wikipedia, a coworking space is an arrangement in which workers of different companies share an office space, allowing cost savings and convenience through the use of common infrastructures, such as equipment, utilities, and receptionist and custodial services, and in some cases refreshments and parcel acceptance services. It is attractive to independent contractors, independent scientists, telecommuting and work-at-home professionals, and people who travel frequently.
Working at coworking spaces helps entrepreneurs avoid the feeling of isolation they may experience while telecommuting, traveling, or working at home alone, and eliminate distractions. Most coworking spaces charge membership dues.
Coworking spaces offer their residents a variety of amenities like shared workstations in an open-plan ‘office’ environment, private desk space, ‘hot-desking’ options, private offices, and meeting rooms. They are community-oriented and work on a flexible pay-as-you-go membership model. Coworkers typically pay a monthly club membership or subscription fee which includes access to the hub, a hotdesk, internet & meeting rooms.
Shared office spaces are oriented toward creating a community spirit among members. Their set up is designed to encourage interaction and a sense of community. Coworking hubs run social & networking events. Besides, they offer business support, professional advice drop-ins & investor meetings.
Flexible workspaces gather collaborative communities of like-minded freelancers, start-ups, and SMEs. Even Google has embraced coworking to reduce office costs while at the same time boosting employee performance & satisfaction.
