How coworking spaces deliver big office benefits for small business budgets

As a small business leader, you know that keeping your teams connected and your budget in check is no easy task! That’s where coworking spaces come in. 

Offering workday essentials like collaborative breakout areas, private meeting rooms and a fully-stocked kitchen, you get all the perks of a traditional office, without the hefty price tag.  

But it’s not just about saving money. A boost in productivity, wellbeing and overall job satisfaction are all upsides to this flexible working style. 

Keep reading to discover why a coworking space could be a sound strategic investment for your growing business. 

 

Coworking vs. traditional office costs 

The cost of a coworking space and a traditional office varies for several reasons. The biggest one is that with coworking, you share the space and facilities with other businesses rather than paying for a dedicated, private office. 

Coworking gives you flexibility: 

• You can hot desk – grab any free workstation; 

• Or get a dedicated desk membership if you’ve found a favourite corner. 

You also get access to shared amenities like: 

• Phone booths 

• Breakout areas 

• A fully equipped kitchen 

• Bookable meeting rooms 

• Bike storage and showers. 

Most coworking spots offer monthly rolling contracts, so you can easily scale up or down depending on what you need. 

Now, with a traditional office, you’re usually signing up for a long-term lease that can range anywhere from three to 25 years. You get your own private, lockable space, which is great for privacy and customisation. But keep in mind that you’re renting directly from a landlord. So, costs like utilities, maintenance and furnishings are all on you. 

Which one works for you? 

Some businesses love the control and privacy of traditional offices. But coworking often makes way more sense for: 

• Small teams 

• Solopreneurs 

• Anyone who likes flexibility (and lower overheads!) 

Has your small team outgrown working from home? Check out these 7 signs that your team might be ready for the next step.  

Coworking and private offices: Cost comparison  

So, we’ve established why coworking spaces provide affordable small team office alternatives to keeping your teams together. But how do the actual costs of a coworking space and a traditional office compare?  

There are several factors that affect the price of any office – like its location, what amenities are included, how close it is to public transport, and much more. The amount of space you need and the number of employees play a role, too. 

• Coworking: flexible spaces usually charge per desk.  

• Traditional office: leases typically charge per square foot (allow 100 sq ft per person).  

Here’s a quick look at average costs in three popular areas to give you a better idea: 

Sources: Free Office Finder and Oktra 

Our maths whizzes have calculated that a Work.Life membership for your team could save you: 

• Up to 87% versus a traditional office, £103,000 per year  

• Up to 76% versus coffee shops, £55,000 per year  

• Up to 84% versus competitor spaces, £80,000 per year. 

Shared workspace financial benefits 

Here are 6 ways a coworking space can save your small business money while keeping your teams together:  

1. Scale with confidence  

With coworking, you can adapt your workspace to your needs without the risk of breaking a lease or finding a new office. This perk can save you money compared to long-term, tighter leases you often get with a traditional office.  

The adaptability of a coworking space provides a safety net for your investment, letting you expand your business confidently when the time’s right.  

1. Only pay for what you need      

Coworking spaces typically charge by the workstation and provide maximum flexibility with the shortest terms. Here at Work.Life, you can choose from short-term or long-term rentals or opt for a monthly pay-as-you-go membership for even more freedom. This gives you more control over your workspace, allowing you to select the best option for your budget and schedule. 

1. Share the cost  

A coworking space is shared, which means the costs are shared. You get all the amenities of a private office for a fraction of the price. Everything’s included, like wi-fi, utilities, daily cleaning, kitchen supplies and facility management. What’s more, you only have one monthly payment to deal with, so you can wave goodbye to managing multiple bills – ideal for keeping tabs on those operational costs. 

1. Reduce recruitment costs  

Coworking spaces have heaps of perks that help keep your team happy. Think on-site support, unlimited coffee, regular wellness and social events, and comfy communal areas to keep that work-life balance in check. 

Prioritising your people’s happiness helps to improve employee retention, lower sick days and reduce staff turnover. So, you can achieve huge cost savings on recruitment, onboarding and training new people, substantially boosting your bottom line.      

1. Minimise your initial spend  

Traditional leased offices will be an empty shell when you move in. So, you’d have to spend time and money fitting out the space with furniture, utilities and other essential overheads.  

With a coworking space, everything’s set up when you arrive, so you can hit the ground running. There’s no costly office fit-out; simply plug your laptop in and get cracking.  

1. Snag a prestigious postcode 

As a small business leader, you dream of a central location with handy transport links and things to do in the area to keep that essential work-life balance in order. Coworking helps make this dream a reality.  

Coworking spaces are usually found in the top cities and the coolest areas. Suddenly, your big city office becomes way more affordable. So, you can choose a top spot for your team without compromising your budget. 

Small team office alternatives 

Offering a smart, strategic alternative to traditional office setups, coworking spaces are a budget-friendly dream for start-ups, SMEs and freelancers. With options like pay-as-you-go memberships and short-term rentals, small business leaders gain the control and agility they need to align workspace costs with their growth goals.  

Coworking isn’t just about cutting expenses – it’s about investing in a dynamic and scalable solution that supports productivity, innovation and long-term success in a collaborative environment. 

Work.Life supports growing teams 

Our coworking spaces and membership options are designed specifically to address the challenges small teams face when transitioning from home to professional environments. 

Our memberships look like:  

Flex Membership 

Best if you need a workspace: 

• Less than 2 days a week 

• Or up to 8 days a month 

• Tailored flexibility – only pay for what you need 

• Easily share days across your whole team. 

Perfect for: Solopreneurs, remote workers or small teams with changing schedules.  

Unlimited Membership  

Best if you need a workspace: 

• More than 2 days a week 

• Or 9+ days a month 

• Unlimited access – no need to track days 

• Individual access for each team member. 

Perfect for: Hybrid teams and individuals wo need consistent space without the admin. 

Reach out today if you want to learn more about our flexible coworking spaces!