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A breakdown of why coworking is a good environment for startups

New Zealand’s economic landscape is rife with opportunity for those interested in starting a business. With only three major industries (tourism, agriculture, and construction) making up its economy, the country is a fertile ground for business interests. More than just those wanting to invest in the country’s economy, those with the motivation to see their start-up become a reality can find many opportunities to do so.

For many businesses owners, starting a business can be difficult, especially if you do not have a lot of cash flow. The initial costs associated with start-ups can add up to thousands of dollars, but today’s entrepreneurs do have options, especially where office space is concerned. Co-working, for one, is one of the most cost-effective ways to save money. However, co-working spaces are good for other reasons as well.

Continue reading below for more reasons why coworking is a good environment for startups

Collaboration

Many times, co-working offices maximise the use of space, and because of this, professionals can find themselves working in proximity to any number of professionals from diverse occupations. This proximity promotes interaction between workers which encourages collaborations of all sorts. Some of the best co-working spaces promote these types of opportunities. Servcorp coworking spaces not only encourage collaboration, but they also have events that promote the idea of collaboration instead of competition.

Mentoring Possibilities

As a part of holding a space in the co-working community, professionals gain the advantage of easily finding people who can show them the ropes. As a self-employed professional at the beginning of starting your business, you can find yourself a lone person sitting on an island without support or encouragement, especially if your home office is also your workplace. Again, because of the social aspect of co-working spaces, the chances you will encounter someone in your field to help you with the getting your business off the ground is high.

Many of the larger co-working outfits sponsor events that promote industry within this particular area of business. At these functions, you cannot only meet possible mentors to help you navigate the tricky nuances of starting a business, but they are also a valuable resource. Because of these advantages, co-working spaces can be the best places to seek out a mentor.

Establishing A Network

In addition to finding suitable mentors, this environment promotes networking. Whether you are talking about business or more personal matters, every conversation is a prime opportunity for you to connect with someone who can help you grow your business. These conversations can end in you getting a great referral, or even giving one, but they can also be points of contact for further collaboration. Networking, like collaboration, is a part of the co-working landscape, but in a way that is more than the usual social interactions. These connections are meaningful and have purpose.

Access To Incubators

On your own, your start-up has no more than five years to flourish, and without support, you really have to work to get the word out about your idea. Incubators, often a part of the co-working scene, show professionals how to successfully grow their business. Even though many incubators exchange their services for equity, the professional gains from having experienced, knowledgeable people guiding the venture. An incubator means the difference between a start-up that is struggling and one that eventually breaks through to capture its market.

Co-Working As An Investment In Human Resources

In no other business environment would you have within your reach all of the tools needed to succeed in your profession. For the start-up, co-working spaces can be a one-stop resource for professionals who need guidance. More importantly, this environment is an encouraging one that fosters cooperation and collaboration, concepts that are at the foundation of business.

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