As you establish your company, one of your biggest responsibilities is to provide a workspace that your employees will be comfortable in. Considering the nature of your business and what your budget can allow, you may be wondering what option can provide the luxury of convenience and affordability.

Leasing an office space of your own can give you more control over your environment, but it’s not always the practical choice. If your business is in its infancy stages, you may end up walking a financial tightrope since you may not be able to handle rent, water, electricity, and other related fees with ease.

On the other hand, giving your employees the option to work remotely poses practical advantages, but it also comes with challenges of its own. If the requirements of your projects and tasks call for face-to-face interactions, a work-from-home setup may not be ideal. You may end up cutting your overhead costs, but your team members may have difficulty collaborating and developing camaraderie or positive relationships

Both options have their own share of pros and cons, but as business owners, you should be aware that there’s a way to reap the benefits of both. Thanks to the entrance of the flexible workspace, both startups and well-established companies can boost the productivity of their operations even more.

Setting up your company in a coworking space is a budget-friendly option that can pose a large number of benefits. When paired with flexible office policies, you can enhance the performance of your team by giving them more control over their work and helping them attain a good sense of work-life balance.

Other than optimizing team productivity, a coworking space allows you to be part of a high-performing environment. Take the case of Apple. Since they’re a tech company, they’re always in need of fresh new ideas to upgrade previous models of their gadgets. 

By transferring some of their employees to a coworking space filled with like-minded entrepreneurs, they were able to produce new ideas that may come into fruition in the years to come. By gaining more networking opportunities, you too can experience the growth Apple has received, and establish partnerships that can be beneficial down the line.

Drive your business forward. For more ideas, take a look at this infographic on how you can promote team productivity in a coworking space.