Goodbye, 9 to 5. Flexible co-working is here to stay

By the end of 2018, an estimated 1.8 million people will be working within 19,000 co-working spaces across the globe. The co-working business is booming – fuelled by the entrepreneurial desire to get away from the regimented working week – and start-ups are flocking to collaborative workspaces. If you’ve just started your small business, or are hoping to start soon, it’s worth reassessing how you function within your work environment. Would you prefer a more social setting? Would you like to network and bounce ideas off other people? Then a co-working space could be a beneficial option.

What are the benefits of a co-working space?

Networking

As a small business, working independently can be isolating and lonely. You may feel disconnected from other start-ups and small business owners, and dream of being part of a like-minded community. A co-working space offers the social benefit of an office, without the rigidity of set hours.

Creativity and Collaboration

Sick of staring out the same window? Sick of trips to the same kitchen to make another cup of tea, on the hour, every hour? We get it. A co-working space offers the opportunity to work with different people, every day. You have the flexibility of short-term contracts or day passes, so you can mix your work environment up whenever you like. Open-plan offices, shared desk spaces and lounge settings

A Well-Designed Office

The interior design and creativity that is injected into most co-working office spaces far surpass anything you could probably get at home. Furthermore, to rent an office space is generally a lot more expensive than renting a desk in a co-working space. You’ll get the benefits of modern facilities, communal areas and meeting rooms, with a smaller price-tag.

Productivity

According to global research by Deskmag and Deskwanted, 74% of people become more productive in a co-working environment.

Three of the best co-working spaces in the UK

Want to find a space to run your start-up from? These three co-working spaces all offer beautiful design alongside a great, collaborative environment. Fresh fruit, free coffee, showers, 24-hour access and on-site support are all part of the deal.

WeWork

Great for: In-house events, incredible company culture and a host of savings through WeWork partners such as Slack, Amazon and Hertz. They also have great micro-brewed coffee and craft beer available, to help get you through the day. The company is also big on Corporate Social Responsibility (CSR) with their WeWork Refugee Initiative.

The price tag: Hot desks – wherein you pick an available desk each day – start at £200 a month, so just £50 a week. This is a great option for a sole trader or newly incorporated company, as the cost is significantly less than renting your own office space. If you have a team or are a company of up to 100 people, then a private office space could be a good option. They start at £460 per month.

Where is it? In London, there’s 38 WeWork locations, plus two in Manchester.

Workspace

Great for: If you just need a day in the office or a change of scenery, Club Workspace offers day passes.

The price tag: Pay £40 for a one-day pass or £300 for a pack of 10. Club Workspace is a great option if you want to have access to any of the Workspace facilities, as often as you need it. This plan starts from £300 per month.

Where is it? Workspace has 19 locations across London and is planning to grow.

Spaces

Great for: Their international presence. If you’re wanting to grow your business internationally and need to travel often, a Spaces membership gives you access to great workspaces in many countries. From Switzerland to South Africa, Spaces’ international hotspots are continually growing.

The price tag: A membership in London costs from £345 per month. If you want to try before you buy, Spaces offers a free one-day trial. You’ll get a free coffee, too.

Where is it? Spaces currently have three locations across London.

Without a set office, what should my registered business address be?


Oftentimes, freelancers and start-ups work flexibly. Without a fixed space of work, it can be difficult to know what your registered address should be. Private limited companies – which many start-ups choose to operate as – legally need a registered address. If your place of work is flexible and you’d prefer to flit from one co-working space to the next, then the security of a registered address service could be beneficial to your business.

At The Formations Company, we offer an affordable Registered Agent Service that means you can get all your mail forwarded to your home address. Work wherever you like outside the home, yet receive all of your mail without sacrificing your home’s privacy.

What do I get with a subscription to The Formations Company’s Registered Agent Service?

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Privacy and Security

No need to use your home address as your registered address: with our registered address service, you can keep your personal life private. If you change co-working spaces often, you won’t need to go through the hassle of updating your registered address.

It’s a legal requirement to have a registered address if you’re a registered company. This is so government organisations such as Companies House and HMRC can contact you with important notices.

Forwarded and Protected Mail

No matter where you decide to take your work, we can send all your mail on to your permanent address of choice. This means that while you may desire to be flexible with your office space from month to month, you’ll never miss an important letter; your customers will know how to reach you.

Prestigious Central London Address

Even if you have a mobile office, you can have the security of a fixed address with our service.

One Month Free Trial

Want to try before you buy? No problem. We’re happy to give you your first month, free of charge.[br]

Incorporate your company with our range of Formations Packages. Then, sign up to our Registered Agent Service and receive your first month of mail forwarding, free of charge.
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