Coworking spaces are shared work environments used flexibly by freelancers, remote workers, and even larger businesses who need the extra space.
They tend to offer anything from desk space to office pods, meeting rooms, and beyond, and are often equipped with most of the kit you’d expect to find in any office.
They can often be a lifeline for self-employed workers, so in this article we’ll look at the pros and cons.
Should I work from home or use a coworking space?
This is entirely up to you! One one hand, some freelancers and small business owners find working at home is one of the greatest perks of being your own boss.
There’s no time wasted on travelling to work, the coffee in the kitchen is your favourite brand, and you can listen to their favourite music without headphones and or anyone complaining about it. But it’s not for everyone.
The benefits of coworking
You might consider things like:
- Flexibility: Most coworking spaces will allow you to be very flexible with booking. You could even hire space on an hourly basis
- Networking: With other people working around you, from a variety of backgrounds, there are opportunities to meet other entrepreneurs. Some spaces offer business incubators for startups.
- Inspiration: Being surrounded by other people’s conversations and energy can sometimes spark new ideas and opportunities
- Access to facilities: Coworking spaces are usually stocked with all manner of fancy office kit and other resources that might be expensive to set-up privately. Meeting rooms with presentation equipment are a good example.
- Getting into work mode: Some people find it hard to get into work mode when they’re at home or conversely, find it hard to stop work and leave it behind. It can also help you get away from the well-meaning people who miss out on the meaning of ‘working’ from home, and call in for a chat.
- Mental health: Self-employment can be quite a slog at times. It can be nice to know there are other people out there who know what you’re going through.
Potential issues of using coworking spaces
Like everything in life, there are pros and cons to coworking – it all depends on your needs and personal preferences.
- Cost: Coworking spaces tend to be cheaper than hiring a private office, but working from home tends to be cheaper again. With either option, you can claim your related work expenses on your tax return.
- Concentration and background noise: You won’t have as much control over your environment in a coworking space as you do working from home. The noise of other people can be infuriating if they’re being inconsiderate
- Privacy and data: Work which involves personal data or sensitive conversations might not be suitable for a coworking space unless you use a private office
Check out our accounting support hub for more help and resources, or to ask a tax question.
