Search

How can we help?

Icon

The Four C’s of Co-working

Co-working is not a new concept, nor is it a fleeting craze.

Last year, flexible workspaces made up over 20% of all commercial office leases in central London. This trend is not confined to the capital either; take-up of flexible workspaces in cities outside London increased 275% from 2016 to 2017.

What is it?

Co-working essentially allows members of different organisations such as freelancers, start-ups and other remote workers to all share the same office space. Individuals and businesses can rent a single desk or a mini office, often on a monthly, rolling basis. All of this means that coworking presents a much less risky option for new businesses.

What has led to this meteoric rise?

The nature of the world of work is changing. Businesses are increasingly using self-employed freelancers on an ad-hoc basis. In fact, ONS statistics show that the self-employed now represent over 15% of the labour force.

Similarly, the number of start-ups has generally increased in recent years – specifically within the technology sector.

The Four C’s of Co-working


Cost

Let’s start with the obvious: renting an office is expensive. Unfortunately, the fact is that most new business are simply priced out of prime city locations. It’s also a substantial commitment, as traditional commercial leases will typically last 6-7 years.

Co-working provides an innovative and cost-effective solution to this problem, allowing small businesses and start-ups to get access to a wider client base. Spaces are often stylishly finished too, so businesses can give clients (and future employees) the right impression without the upfront cost. These cost savings can then be passed on to customers, giving the business a competitive edge,

Control

The majority of coworking offices are open all hours, including weekends. Those using the space can work hours that suit them: they have control over their working life.

This means that coworking spaces are incredibly conducive to flexible working, which is an increasingly important draw for top talent (here’s looking at you, millennials).

Furthermore, the ability to work reactively to demand during peak periods can be invaluable to businesses – especially start-ups which are building their client base.

Connectivity

It goes without saying that, to start or run a successful business, you need to be able to connect with customers. Most coworking spaces provide high speed Wi-Fi as standard, as well as numerous other high-tech AV equipment.

Crucially, spaces often also provide on-hand staff support teams – and this usually includes dedicated IT support. Again, this means business can reap the rewards of these facilities, without incurring any of the upfront costs.

Collaboration

Finally, one of the really key benefits of coworking spaces is that, by nature, they bring together a number of creative individuals under one roof. Start-ups and freelancers can easily network and share experiences and ideas with one another.

Also, most spaces work to arrange events and seminars for residents. These range from gym classes to more formal training seminars and external networking opportunities.

Co-working essentially allows members of different organisations such as freelancers, start-ups and other remote workers to all share the same office space.

How We Can Help

ForburyTech is a one-stop complete business advisory service, which is dedicated to supporting technology businesses.

We can connect you with the experts you need to help your business grow – whether that is banks or other sources of finance, lawyers, accountants, business advisors, insurance brokers or HR support.

About this article

Disclaimer
This information is for guidance purposes only and should not be regarded as a substitute for taking legal advice. Please refer to the full General Notices on our website.

About this article

Read, listen and watch our latest insights

Pub
  • 19 May 2025
  • Corporate and M&A

Thinking of exiting your business? Part 2

In the second instalment of our three-part series, join Stuart Mullins from Clarkslegal and Nicky Goringe Larkin from Succession Planning as they discuss the complexities surrounding business financing, accounting practices, and valuation strategies, along with key insights into private equity.

Pub
  • 16 May 2025
  • Employment

London Seminar – Understanding the Employment Rights Bill: Legal changes and what they mean for HR

We are pleased to invite you to an in-person seminar at our London office on Tuesday 24th June, hosted by our Employment Law team. Join Monica Atwal, Managing Partner; Katie Glendinning, Partner; and Amanda Glover, Associate, as they unpack the legal implications of the new Employment Rights Bill and what it means for your organisation.

Pub
  • 16 May 2025
  • Employment

Reading Seminar – Understanding the Employment Rights Bill: Legal changes and what they mean for HR

We are pleased to invite you to an in-person seminar at our Reading office Tuesday 17th June hosted by our Employment Law team. Join Monica Atwal, Managing Partner, Katie Glendinning, Partner and Amanda Glover, Associate, will unpack the legal implications of the new Employment Rights Bill and what it means for your organisation.

art
  • 15 May 2025
  • Immigration

The 2025 Immigration White Paper: A Turning Point in UK Immigration Policy

On 12 May 2025, the UK Government unveiled its White Paper titled “Restoring Control Over the Immigration System”, outlining the most substantial proposed changes to immigration law since the post-Brexit overhaul.

Pub
  • 15 May 2025
  • Employment

TUPE Podcast Series – Information and Consultation Obligations

In this ninth episode of our TUPE Podcast Series, Katie Glendinning, a Partner in the employment team, will examine the information and consultation obligations under TUPE.

art
  • 15 May 2025
  • Privacy and Data Protection

Ashley v HMRC – The High Court clarifies the scope of Data Subject Access Requests

DSARs are very rarely the subject of litigation, and they are even rarer in the High Court, so the case of Ashley v HMRC is a valuable decision for both data subjects and data controllers.