One of the biggest obstacles in growing a small business is finding reasonable office accommodations. For smaller business, capital might be low and renting an office building just isn’t always feasible. At the same time, small business owners might be reluctant to work from a home office. Not only is a home office sometimes seen as unprofessional or unestablished to clientele, but it can also be very unsafe.
A trendy new alternative to traditional offices can be found in a co-working space. Co-working space is an “open concept” office building where small companies, freelancers, and entrepreneurs can buy into a shared space. There are a number of reasons why small business owners are leaning toward this alternative and we will outline them below.
Huge Financial Savings
With office space rental or commercial property purchase being such a massive upfront investment, you could even consider a co-working space to be a business loan alternative.
If you’re worried about not having real estate as business collateral, you shouldn’t be. A merchant cash advance works just as well and is based off your daily profits, not property, so you are not only a bigger dive into debt but are also borrowing against what you can truly afford to pay back.
Better for Employees
If you are managing a small business with multiple employees, your bottom line depends on their efficiency. A co-worker space keeps the team connected without the interference of cubicle walls or closed doors. When your team can collaborate, they can get more done.
Employees in co-working spaces form better working relationships and encounter fewer misunderstandings and conflicts because everyone works in the same place and are on the same page.
When you need to assemble the best workforce team, you want to be able to offer them great job perks. Unfortunately, most new businesses don’t have the cash flow necessary to include amenities like full kitchens, exercise rooms, or social events. These are perks that you can find in a number of co-working facilities, though.
Co-Working Facilities are Varied
Maybe you’re just a freelancer that needs a quiet space away from home to expand your reach and meet with clients or maybe you’re a team of 40+ in need of an open area to roll up your sleeves. Co-working space is popular, in supply, and affordable.
If you do need a little additional capital to move your business into a co-working space, or even to hire an additional employee (or ten), the process to obtain a merchant cash advance is simple and easy. If you have questions, feel free to reach out to a Vader Mountain Capital representative Your new workspace awaits- why hold off any longer?