Navigating the Choice Between Office Leasing and Coworking

Congratulations, you have started on the path to creating your own small business or start-up! Embarking on the journey of starting a small business or a startup is an exciting endeavor. However, amidst the thrill of creating something new, practical decisions need to be made, including where to establish your business base, whether it is an office leasing or joining a coworking space.

Traditionally, the default choice has been to buy or lease office space. However, the modern business landscape offers an alternative – coworking spaces. These shared work environments have gained popularity for their flexibility, cost-effectiveness, and community-oriented approach.

In this article, United Co. explores the financial differences, leasing terms, and flexibility, as well as the community and networking aspects of both office leasing and coworking, helping you make an informed decision about which option aligns best with your business goals and vision.

1. The Financial Differences

Buying any kind of office space is usually out of the equation for most small businesses that are just starting, which leaves jumping into a lease the next best thing. This can be expensive, though, with the average workspace in Australian capital cities costing up to $25,000 per employee.

In comparison, coworking spaces sit at around an average of $7200 annually per employee a year, all the while offering all the same facilities as a traditional office space. And that includes your overheads and access to other, like-minded professionals as well.