With the costs of starting up a business mounting in the midst of the recession, small businesses are looking into space-sharing as a way to drive overhead and operating costs down.
In a nutshell, it’s basically like having flatmates to save on rent on an apartment. Space-sharing allows businesses to share office spaces and some of the basic office items and resources (like fax machines, coffee maker, and even a receptionist). Businesses can avail of either desk space and cubicles or pricier rooms.
It also provides many opportunities to network and market since potential tie-ups can be made with businesses with whom you co-share space. However, experts also warn about the lack of privacy. You might be sharing space with competitors as well.
It also presents a better alternative to those who are looking to strike out on their own. Home offices rarely work for more professional endeavors. People who have moved out of their basements and home offices do agree. Minor things like having someone to answer the phone for you helps boost your stock.
Source: WSJ
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Tags: Business, Entrepreneur, Space-sharing