Coworking Collective – 3 Major Benefits of Coworking Spaces for London Startups

The startup scene in London is booming and it is a very attractive option for entrepreneurs to get their businesses off the ground. As the third largest tech hub in the world, there is no shortage of accelerator and incubator programs to give new businesses a helping hand. The British capital has been attracting top talent from around the world for decades and continues to thrive as a location for startups to enter into the European and international markets.

However, with London’s office rental rates among the highest in the world, it can be difficult for startups with limited funding to find office space in the city’s primary business districts. In recent years, an increasing number of entrepreneurs are looking to coworking spaces as a way to find a functional and affordable space for their business in London. With coworking spaces offering startups a range of advantages compared with more traditional spaces, these spaces are poised to continue to grow in popularity going forward.

Keep reading to learn more about the benefits of shared office space and how these modern office solutions can benefit startups in London.

Location, Location, Location

As a startup with limited funds, you might think nothing of running your business from a desk in your garage or from the coffee shop around the corner from where you live. However, when you need to meet clients, network with others in your industry or use various business services, being in a suburban location can be detrimental to your business. To succeed you need to be right in the centre of the business community. Premium coworking spaces are located in prestigious locations in London such as Canary Wharf, Old Broad Street, Leadenhall Street and Mayfair Place. Being located in these prime business locations will allow you to interact with the local business community and get your startup off to the best start possible.

A Diverse Crowd

Professionals from a diverse range of industries and backgrounds typically occupy coworking spaces. Being surrounded by people from other businesses can help to foster creativity and give you a new perspective on your own business operations. As a startup, it’s important that you don’t have tunnel vision and that you keep an open mind. Having access to a diverse group of people will give you the opportunity to look at your business in new ways and perhaps even make positive changes that you may never have thought of without the influence of your coworking colleagues.

More Capital For What Matters

When you’re starting a business, you need to be very careful about how you spend the limited capital you have and you need to be sure that you are getting a good return for your money. Traditional office leases in London are among some of the highest in the world and for a fledgeling business, locking yourself into a long-term expensive lease is not a wise decision. With a coworking space, you only have to pay one flat affordable rate each month and you don’t need to commit beyond that month. By opting for a more affordable office solution, you will have more capital at your disposal to invest in the critical areas of your business.

Consider A Coworking Space For Your London Startup

Starting a business in London is an exciting venture but you need to make the right decisions early on to ensure the future success of your business. Choosing to work form a coworking space will give you access to more funds to invest in the important areas of your business, allowing your business to grow quickly. As coworking spaces are social environments, you will have the opportunity to connect with a diverse range of professionals who can help to inspire you and give you a fresh perspective on your business ideas and processes. With a premium office space as your base, you will be positioned in the right area of London to promote your business, network with the right people and make a success of your new business.