Co-Working Advantages

In the last decade the concept of coworking has gone from being a fashion to become a norm. Coworking spaces have become a real and very feasible option for those companies that are looking for a physical place in which to establish their offices without long term lease commitments. Instead, these spaces offer better conditions than a traditional office, since it is possible to create a collaborative system between different companies and professionals under the same roof, enriching all parties.

But you may still wonder… What is coworking? The concept of Coworking emerged in 2005 in San Francisco, with programmer Brad Neuberg, who made a space available to people that offered free Wi-Fi, lunches, meditation and more.

The benefits of the concept are very easy to see. It is a shared workspace in which professionals from different areas share the responsibility for paying a monthly fee. In return, they receive multiple services such as meeting rooms, Wi-Fi, break rooms, private meeting rooms, cleaning service etc.

Although this concept was very attractive at the beginning for small entrepreneurs and startups, large companies such as Amazon or Google are increasingly joining the idea.

Let’s review the benefits of establishing a company in a coworking space:

• Economic advantage: This is, without a doubt, the clearest advantage of a coworking space. We know the costs of having our own office are quite high since we have to take into account the variable expenses of creating an office, but we also have to face numerous fixed expenses: electricity, water, Wi-Fi, etc. On the other hand, in coworking spaces, it is only necessary to pay a monthly fee, the amount of which will depend on the services the user wants to enjoy.

• Relationships between coworkers: Ideally, since you will be surrounded by professionals from different fields, take advantage of it! The space manager will be in charge of creating environments for professional collaboration in order to create new opportunities for coworkers. Currently, all companies require different disciplines and therefore, in a coworking space you can find other professionals who help you with the development of your business.

• Expand your networking: Companies are facing new challenges that require professionals from varied fields, and a coworking space offers the perfect opportunity to find contacts to help you.

• Complementary services: Private meeting rooms, rest areas, free Wi-Fi, tax, labor and accounting management service, cafeteria, 24-hour surveillance systems, and more can all be found in the diverse landscape of coworking hubs.

• Time flexibility: Many coworking facilities are available 24 hours a day. This allows workers to determine their own schedules.

Another big advantage is possible tax deductions of certain expenses. We will pay special attention to this, as it is a topic of relevant interest.

A coworker may deduct:

• All monthly payments to the Coworking hub
• Expenses derived from taking training courses or workshops if they are related to your economic activity, carried out both outside and inside the coworking space
• Representation expenses and company meals in the coworking cafeteria: If you have had a meeting in bars, hotels with coworking or restaurants, these expenses will also be deductible by presenting the invoice (not the receipt).
• Additional services provided by the coworking team, even not related to the space, for example internet marketing promotion, advertising and so on.