Meaning of the term ‘coworking’
Coworking is a style of work that involves independent workers or teams using a shared working environment, such as an office.
Unlike more traditional office environments, people that use coworking spaces are typically not employed by the same organisation.
Coworking is particularly attractive to startup founders and teams, contractors, freelancers, small business operators and sole traders. However, coworking spaces are also increasingly being used by larger corporates, who have recognised the many benefits that can be derived from coworking.
Some of the benefits of coworking include:
- The flexibility to work where, when and how you want.
- Reduced operating costs (e.g. no expensive office leases).
- Synergies from working near or with other business operators and staff.
- Social interaction. Working from home or as a sole trader can be isolating at times.
- Less distractions compared to working from home.
The explosive growth of coworking in Australia
The demand for coworking spaces in Australia has skyrocketed!
“Coworking spaces in major cities are overflowing, requiring rapid expansion to accommodate increased demand by entrepreneurs.”
As outlined in the above quote from StartupAus’s 2017 Crossroads report, the demand for coworking spaces far exceeds the available supply.
- 72.3% of Australian startups are using coworking.
- 54.5% are using coworking full-time.
A huge proportion of Australian startups are using coworking spaces, as illustrated by the statistics above from the 2016 Startup Muster report.