Innovative Professional Offices (www.InnovativeProfessionalOffices.com), a top provider of executive offices and support services, is weighing in on a study which showed that shared office spaces can lead to economic development.
A recent study conducted by a Philadelphia business association, Center City District, found that shared office spaces create opportunities for business development and economic growth. (Source: Adelman, J. “Shared workspaces offer pathway to Center City’s office market,” philly.com, September 30, 2015; http://www.philly.com/philly/business/20150930_Shared_workspaces_offer_pathway_to_Center_City_s_office_market.html)
“Although they are not as common as your standard office, there has been a growing trend towards shared workspaces over the past few years,” says Eshai Hirshberg, director of Innovative Professional Offices. “In a shared office concept, self-employed workers and employees from different companies all use one workspace.”
Shared offices have typically been popular among freelancers, self-employed entrepreneurs, and startups, as they allow for an office environment without a large financial or contractual commitment.
“Traditional offices are usually designed for larger, established businesses and may require long-term contracts,” notes Hirshberg. “Shared offices are a way to increase access for smaller businesses and freelancers who may still require some of the fundamentals of an office, like meeting rooms or advanced technology. Office space can be a necessity for many businesses.”
However, the majority of the shared workspaces looked at in the study were predominantly used by employees from companies located in other cities. The study concluded that companies were using shared offices as a gateway into the local market and as a way to gain access to new talent.
“Because of the affordability and lower commitment required of shared offices, companies can now test the waters in a market in a way that they couldn’t before,” says Hirshberg. “When shared workspaces bring companies into locations they otherwise wouldn’t have gone to, it creates more opportunities for the local talent pool. It also allows companies to take their first step into a location, with the possibility for expansion at a future date.”
While the study concludes that shared offices can stimulate economic growth, Hirshberg also sees another conclusion. “This really confirms that shared office spaces are one of the best office options for professionals today, from freelancers to larger companies. They should continue to grow in popularity in the years ahead as long as they remain an affordable option.”
Innovative Professional Offices offers virtual office services, office rentals, and administration services, primarily to small- and medium-sized businesses that don’t have a need for an office on a daily basis. To learn more about all of the services offered by Innovative Professional Offices, visit www.InnovativeProfessionalOffices.com.