Outsourcing, freelancing and the advancement of technology is changing the way we do business. As more and more organisations move away from the traditional corporate structure, the need for a domestic office with high rental costs becomes a less attractive option.

A coworking office is a shared workspace where individuals, business owners or employees of businesses can work with like-minded people and thrive without the office politics or formal structure of a corporate setup. Coworking spaces are becoming an increasingly popular option for businesses who want to expand without committing to the financial and structural obligations of a leased office space.

What are the advantages of a co-working arrangement?

Networking

Coworking spaces are a collection of different companies and industries working within a shared space. When surrounded by inspirational and like-minded people, there will be increased productivity and motivation. When employees are from different social, cultural and employment backgrounds, there will be a broader spectrum of skills and access to different markets, so your business can grow exponentially with new connections.

Collaboration

A shared space holds an amalgamation of skills and talents that can work independently, or freely collaborate. Meeting other people in a working environment will lead to new ideas and opinions from industries not normally in your network.

Cost-effective

As more and more businesses are outsourcing their non-core functions, a large office space to accommodate a team of employees is no longer a necessity. A coworking space does not need a minimum number of people. You can operate your business functions from one desk or host an entire team, meaning you only pay for what you need. Shared spaces offer cost-effective solutions and the flexibility that is restricted by usual lease terms.

Startup companies, in particular, may have a limited cash flow so do not want to be bound by annual leasing contracts. As well as a flexible rental arrangement, all the overheads that put small businesses out of pocket are included. This can include fast speed internet and office furnishings.

If you are struggling to get your business off the ground or if your high rental costs are leaving you with little profit, there are viable options. Deployed successfully operates in a shared workspace and offers businesses all over the world cost-effective solutions to expensive overheads.

Deployed will connect you with the top talent in the Philippines, be placed in a ready-made office environment, fully equipped with the latest technologies. Your remote staff can take care of all your non-core business functions, replacing the need to even have a domestic office.

If you would like to find out more about hiring an offshore employee or growing an entire remote team, contact a Deployed adviser today.