How Much Do You Know About Co-Working?
Interested in learning more about Co-Working? We know finding facts and figures about Co-Working can be time-consuming and frustrating, so we put together this list of the top 101 facts, notes, and statistics so you can easily reference them and refer back to them any time in the future. This space is constantly changing and evolving, so if you see a fact that is not up-to-date, feel free to let us know. And if you know a stat that we should add, let us know that too!
1. Coworking spaces offer the same amenities you would find in a traditional office, along with a lot more.
Because you don't have to sign a long-term lease in a coworking space, flexibility is a key differentiator.
2. Every coworking space will always have basics like WiFi, printers, usually some type of conference room.
In addition they will also have tea, coffee, and snacks available.
3. Since coworking is a new industry in itself that does not relate to more traditional terms, it should be spelled “coworking”.
The AP Stylebook, which is distributed to journalists worldwide, was the primary reason for the hyphenated term "co-working."
4. In 1995, the first “coworking” space was actually founded by hackers in Berlin.
The idea was to share thoughts, space, and information to those who joined the membership in order to complete tasks.
5. Also in 1995, the word “coworking” was first used by Bernard DeKoven, who described it as “working together as equals.”
Individuals who are self-employed or work for different employers but can share ideas and coordinate meetings via a computer network. The same year, a software company opened a space in New York with a flexible desk setup.
6. In 2002, the first coworking space opened up in Schraubenfabrik, Vienna, in an old renovated factory, which began as a community center for enterprises.
It grew to include freelancers and other professionals who use cell phones and laptop computers. In 2004, the spaces continued to grow and function under the name Konnex Communities, marking the beginning of the local network of coworking spaces.
7. In 2006, coworking Wiki space opened up in San Francisco.
One of the co-founders is Chris Messina, who invented the Twitter hashtag. The Hat Factory opens its first full-time coworking space. Brad Neuber, Chris Messina, and Tara Hunt are the co-founders.
8. In 2007, the first time the word “coworking” was seen on Google’s database.
The number of searches has skyrocketed. The term "coworking" has become a household name in the media. The term "coworking" has made its way into the English version of Wikipedia.
9. In 2008/2009, unofficial coworking meet-ups happened and planned the first Coworking conference in Brussels in 2010.
Cubes & Crayons was the first coworking space to open alongside facilities for children ranging in age from a few months to preschoolers. There were approximately 160 coworking spaces worldwide at the end of 2008.
10. In 2009 , Germany opened Betahaus, the first official coworking space and was noted in the largest new magazine, the Spiegel.
According to Google trends, Germany was the first country in Europe to use the term "coworking."
11. In 2010, the first #CoworkingDay was celebrated by the movement.
In Brussels, the first European coworking conference was held. There were at least 600 coworking spaces in the world at the time, with more than half of them in North America.
12. In 2011, the first “Coworking Unconference” was located in Austin, Texas.
Angel funding starts for a network of spaces.
13. In 2012, coworking spaces worldwide added up to more than 2,000 established.
Media outlets such as Twitter have seen a significant increase (more than 50%) in tweets with the hashtag “coworking” – more than the previous year.
14. In 2013, as many as 100,000 members worked at a coworking space at the beginning of the year.
The 3,000th coworking space opens its doors in the middle of the year. The majority of coworking spaces operate independently of networks. They offered the first health insurance plan in an Ontario coworking space.
15. In 2015, the New York Times wrote about a new idea that sees coworking mixing with the home office at a resort or hotel.
The main idea of the story is to combine coworking and coliving on Gran Canaria, a surfing destination in the Canary Islands. The Surf Office was born, having first opened as an experiment two years prior, making it appealing to freelancers, surfers, and travelers.
16. In 2016, coworking and coliving ideas broadened.
They are typically furnished, decorated, and equipped with cable, as well as internet access. They also have a community manager who organizes events and so on. Campus coliving closes 34 locations in New York and California.
17. Motivation is one of the benefits of working in a coworking space.
When you're in a room full of driven people, there's just an energy of productivity in the air. It's nearly impossible to take a break. You will accomplish a great deal.
18. There’s a sense of community when working in a coworking space.
It's amazing how far the community will go to help one another succeed in places with regulars and familiar faces.
19. There’s flexibility when working in a coworking space.
Rather than signing a long-term lease, coworking spaces offer much more flexible terms. It's ideal for startups on a shoestring budget, and independent freelancers can also find affordable options.
20. There’s a chance to get outside of your house, when working in a coworking space.
Working from home is convenient, but it is also easy to get stuck in a rut. Being in the company of other people is good for your spirits, can keep you sharp, and is beneficial to your creativity.
21. There’s a possibility of networking when working in a coworking space.
It's only a matter of time before you start networking and new opportunities start to flow organically when you have so many people with so much in common.
22. Freelancers or remote workers use coworking spaces.
Because freelancers and other 1099 employees work for themselves, having a pay-as-you-go arrangement can save you a lot of money.
23. Small businesses use coworking spaces.
Small businesses that do not want the overhead of a traditional lease have flocked to coworking spaces.
24. Enterprises use coworking spaces.
Even large global corporations, such as Nike, have partnered with coworking companies to meet their workspace requirements.
25. Non-Profits use coworking spaces.
Many coworking spaces provide non-profit options or discounts. Because of the overall cost savings of coworking (and because they are cost-conscious), these types of businesses have gravitated toward these flexible coworking relationships.
26. You need to consider location when choosing a coworking space.
Select a location that is a reasonable commuting distance from your home. Look for amenities such as restaurants, parking, shops, and public transportation that make it easy to access and entertain clients.
27. You need to consider your budget when choosing a coworking space.
You want to ensure that the space you select is both affordable and long-term for your team.
28. You need to consider the work environment when choosing a coworking space.
You must ensure that wherever you choose to work, you meet your fundamental business needs.
29. You need to consider the community when choosing a coworking space.
Each coworking space fosters and attracts a diverse range of members from the surrounding communities. For example, if you are a graphic designer, you may want to select a space with other designers with whom you can collaborate.
30. You need to consider your short-term or long-term goals when choosing a coworking space.
A fundamental business strategy is to plan for the future.
31. You need to consider the amenities when choosing a coworking space.
Choosing a coworking space with unique amenities is always a plus, even if it is just icing on the cake. Aside from the standard free coffee, wifi, and printing, finding a workspace that goes above and beyond will improve your work life significantly.
32. Coworking spaces are essentially shared workspaces.
They provide affordable office space for those who want to get away from the isolation of a home office or a coffee shop.
33. Coworking spaces offer a suite of office-like amenities such as hot-desks, private meeting rooms, kitchens, coffee and more.
Often, they also offer a community.
34. One of the advantages of coworking spaces is the ability to rent out only what you need vs an entire private office space, which can be costly.
Costs vary and are flexible with various membership-based models. There are options for daily or monthly fees. Membership costs vary depending on whether you use a shared desk or prefer a dedicated one.
35. Start-ups appreciate the flexibility of coworking spaces.
Coworking spaces do not have the high costs and commitments associated with traditional office leases. They also allow small groups to interact with others in the space.
36. The team of researchers found that people who use coworking spaces have different attitudes as a result of their space.
Feelings of more meaningful work, more job control, and a sense of community were all associated with coworking spaces.
37. The genesis of coworking spaces was based around serving the needs of small organizations and freelancers to connect.
However, another advantage is that the culture is based on the concepts of freedom and flexibility.
38. What makes coworking spaces different is culture.
Some organizations may have similar office spaces but lack a culture that encourages flexibility to move around or collaborate with different departments.
39. Coworking spaces are effective for small organizations that range from a one to several employees.
Larger organizations looking to innovate can also benefit from this.
40. The freelance economy is growing.
By the year 2020, freelancers will make up half of the American workforce (both full and part-time). This, in turn, will result in an increase in the number of coworking spaces.
41. Coworking spaces are highly popular with freelancers.
Having your own space allows you to have the best of both worlds: a peaceful office away from home where you can work independently and on your own schedule (most coworking spaces are open 24 hours a day, 7 days a week).
42. Coworking spaces are also used by startups and small teams.
They are less expensive to rent than traditional offices and do not require the same long-term commitment, whereas commercial offices typically require a minimum lease of two years.
43. Coworking spaces have become so popular because they often help people become more productive.
According to studies, people who use coworking spaces thrive much more easily.
44. Coworking spaces are meant to motivate people, and their design frequently reflects that.
A typical coworking space can provide you with a much nicer working environment than a traditional office – one that is both more creative and more tranquil.
45. A coworking space is also a great place to expand your network.
You'll meet people from all industries and walks of life, and simply going to a coworking space opens up more collaboration opportunities.
46. A coworking space isn’t for you if you like to work in silence.
There are numerous types of coworking spaces, ranging from lively and bustling to peaceful and quiet. If you work best in near silence, think twice before investing in a coworking space: even the quietest ones will likely have background noise from conversations or phone calls.
47. A coworking space isn’t for you if you get easily distracted.
Try it out by going to a busy local coffee shop and attempting to work. Coworking may not be for you if you find yourself staring out the window or idly watching people order drinks.
48. A coworking space isn’t for you if you need your own premises.
Depending on what you do, it may be advantageous to have your own premises where you can establish a business and have the privacy you require. Remember that coworking spaces frequently lack privacy, so they're not ideal if you don't want people looking at your screen or listening in on your phone calls!
49. If you’re in a coworking space, it’s not all about you anymore.
You might not be able to control minor details such as room temperature or lighting. You don't always get the big desk by the window and so on.
50. In coworking spaces, it is possible to create a structured work routine and achieve greater discipline.
It also allows you to take a break from your home office and avoid distractions at home.
51. Coworking spaces are designed to promote a new way of working in which members can learn, grow, and connect with one another in a stimulating environment.
All of this contributes to improved personal well-being and performance.
52. A fixed monthly cost is a disadvantage of a coworking space.
If you have only been self-employed for a short period of time or your startup is not yet ready to invest in a space, it is obvious that working from home, a library, or a cafeteria will be much less expensive.
53. Having to commute is another disadvantage of coworking space.
When you work from home, it is simple to get out of bed, make a cup of coffee, and sit at your desk within 10 minutes. You don't waste a minute commuting and can sleep in for a few minutes longer.
54. Sometimes concentrating in shared workspaces can be difficult.
People moving around, quiet conversations between coworkers, and phone calls are all easy distractions. A coworking space has a greater variety of stimuli, which can be a disadvantage for those who need silence to work.
55. When it comes to shared workspaces, some people assume that there is no privacy.
This is noticeable when you want to make a phone call to discuss sensitive matters, for example. However, in coworking spaces, there are meeting rooms or areas where you can comfortably take a private call or meet.
56. A coworking space can be an ever changing environment.
Coworkers and office neighbors will change frequently because that is the nature of coworking.
57. People who use coworking spaces see their work as meaningful.
Working with people who do a variety of jobs can help to strengthen one's own work identity.
58. Coworking spaces are normally accessible 24/7.
People can choose to work a long day when they have a deadline or want to demonstrate progress, or to take a long break in the middle of the day to go to the gym.
59. The lessons of coworking spaces can be applied to corporate offices.
Just as it is critical to encourage flexibility and support your mobile workforce, it is also critical to create the right kind of work environment within your own walls.
60. Coworking spaces are a good place to look for advice because they frequently host networking events, training programs, social events, and even summer camp.
Companies are also attempting to facilitate more connections, allowing people to interact and form communities outside of work meetings.
61. Collective workspace, collaborative workspace, shared workspace and temporary workspace are several names of coworking spaces.
Some refer to it as a virtual office.
62. Low overhead is one of the benefits provided in a coworking space.
You and your team can walk in, do the work, and leave without worrying about who will fix the copier, clean the kitchen, or replenish the snack bar.
63. In a coworking space the infrastructure details are handled for you.
Infrastructure refers to all of the disparate elements that make work easier but are not immediately apparent. Internet, technical support, heating and cooling, cleaning, storage, and supplies are just a few examples. Work comes to a halt without those bits and pieces.
64. In a coworking space comfort is already provided.
Although comfort may not appear to be an important consideration for an office space, it can mean the difference between a focused, engaged employee and a distracted, unproductive employee.
65. With a coworking space, you can project a professional image from the start without the stress, strain, and expense of doing it yourself.
A coworking space provides guest reception and greeting, mail service, 24/7 access to multiple locations, beautiful decor, and luxurious accommodations to all members.
66. Coworking spaces give you the agility to expand or contract the amount of space you use (and what you pay for that space) on a month-by-month basis.
You can begin with a hot desk for one person in September, expand to a private office for five people in November, and then downsize to dedicated desks for three people in January. That is not possible with a traditional lease.
67. Space is important, which is why square footage is also the chief factor in gauging the average size of coworking space.
People will not see the value of a coworking membership if they do not have enough space to work.
68. The average size of a coworking space in North America is 9,799 sq./ft., with an average capacity of 100 people.
This equates to about 100 square feet per person. On a larger scale, however, it facilitates budgeting for various spaces.
69. The average coworking facility can accommodate nine separate benching areas, with space to spare.
Likewise, if a four-desk cluster averages 500 sq./ft., the average coworking space can accommodate six clusters and six benching areas. It’s up to coworking managers to put together the right facilities within the parameters of total available square footage.
70. For coworking facilities, open-air benching takes many of the logistics out of space planning.
There are no reserved seats or special considerations. It's just a table and a chair waiting to be occupied.
71. Coworking facilities can delineate pod assignments in numerous ways to foster a great work environment.
A graphic design pod for creative professionals; a programming pod for software engineers; and a jazz music pod. The possibilities are endless, and they bring people together on common ground.
72. Splitting coworking facilities into zones helps operators better manage them.
Zones can give frequent visitors a sense of belonging.
73. Running a coworking business using only individual workstations is a crapshoot.
There is no guarantee that those seats will be occupied all day, every day. Having said that, it is critical to provide some individual private workstations.
74. Not all designs are necessary, or appropriate, in a coworking space.
The most viable arrangements are determined by considering available square footage, floor plan layout, and space occupancy limits.
75. A coworking space builds everything into the monthly cost.
And small businesses on a tight budget appreciate having predictable overhead and expenses.
76. A coworking space becomes a creative asset that moves the needle on your entrepreneurial spirit.
When you surround yourself with other entrepreneurs and innovators, their ideas will rub off on you. You'll begin to see every problem and market gap as an opportunity.
77. A coworking space is obviously not right for every small business, but don't dismiss the possibility that it might be right for you.
The framework is now in place, and thousands of businesses are already reaping the benefits.
78. There were nearly 19,000 coworking spaces worldwide in 2019.
The number is increasing on a daily basis, and it is expected to reach nearly 26,000 by 2025.
79. There were more than 30,000 flexible workspaces globally in 2019.
This is largely due to an increase in the number of new coworking spaces around the world.
80. Global, the estimates put the market value of flexible workspaces at $26 billion.
There are an increasing number of shared office space companies around the world. It is growing into a significant industry that is attracting major corporate players.
81. There were more than 3 million coworkers globally in 2019.
The Asia-Pacific region is expected to grow the most.
82. 65% of people working in coworking spaces are younger than 40.
In 2017, the median age of coworkers was 35, up from 33.5 in 2012. The majority of people sharing a flexible working space are between the ages of 30 and 39, with only 12% over the age of 50. The median age, on the other hand, is rising slightly each year.
83. With more than 11,000 coworking spaces, the Asia-Pacific is the world’s largest coworking region.
According to global coworking statistics, the Asia-Pacific region has 11,592 flexible workspaces, followed by 6,850 in Europe, the Middle East, and Africa, and 6,293 in the United States.
84. On average, there were 185 members per coworking space worldwide in 2019.
This steadily increasing number demonstrates that coworking office spaces are expanding not only in number, but also in size.
85. The United States has more than 80 million square feet of flexible workspace, making it the world leader in coworking real estate.
According to coworking space statistics, the United States leads the world in this segment, with 60 million square feet more than the United Kingdom. New York, specifically Manhattan, accounts for a sizable portion of the country's industrial coworking space.
86. Freelancers are still the largest coworking demographic in the world.
According to Deskmag's research, the average coworking hub is still heavily populated by freelancers, who account for approximately 41% of the workforce.
87. The IT industry has the largest number of coworkers, followed by PR, marketing, and sales employees.
IT professionals dominate the coworking space with 22%, followed by PR, marketing, and sales employees (14%), and consultants (6%).
88. Women make up around 40% of the coworking workforce.
Women are increasingly interested in industry coworking spaces. Women are increasingly entering the previously male-dominated industry, particularly in the freelance sector (46 percent ).
89. Coworking is growing in popularity outside of freelancers and startups.
More and more corporate employees are choosing to share an office with a coworker in one of the many coworking office hubs that are springing up around the world.
90. Most people consider the social aspect when joining a coworking space.
According to Deskmag's coworking survey, people choose a coworking space for its enjoyable atmosphere (59%), the ability to interact with others (56%), and the ability to build a sense of community around themselves (55 percent).
91. Most coworkers prefer 24/7 access to their coworking space.
According to coworking statistics, people see coworking hubs as homes away from home; they feel much more at ease when they are not bound by traditional office working hours.
92. By the end of 2019 there will be an estimated 696 new coworking spaces in the US and 1,688 worldwide.
According to coworking forecast data, nearly 40% of coworking spaces opening globally this year will be in the United States.
93. 65.3% of newly opened coworking spaces are opened by new businesses.
This demonstrates that startups, small business owners, and entrepreneurs continue to drive the majority of the industry's growth.
94. The US ranks eighth in the world in coworking growth per capita.
According to coworking growth statistics, Luxembourg leads the world with 8.5 new spaces per million inhabitants each year.
95. China is rapidly becoming one of the world’s largest coworking markets.
The number of coworking spaces in China is rapidly increasing. Between 2014 and 2016, it nearly doubled, and it is expected to reach nearly 5,000 by 2020.
96. New York and London are the world’s leading cities in terms of the number of new coworking spaces opening up.
In New York, a new coworking office space opens up about once a week, and once every five days in London.
97. California and Texas have the largest number of new coworking spaces opened per year in the US.
According to coworking space statistics in the United States, Colorado has 44 and Florida has 39 new coworking spaces open each year.
98. Coworking reduces loneliness and makes workers happier.
The cosy, relaxed atmosphere of most coworking spaces encourages social interactions and lifts spirits at work.
99. Coworking creates more motivated and successful workers.
According to the GCUC survey, 84 percent of coworkers say working in a coworking hub motivates them.
100. Only 42% of coworking spaces globally were profitable in 2018.
According to global coworking space statistics, only 42 percent of these spaces are profitable, 33 percent break even, and up to 25 percent operate at a loss.
101. Rent is still the biggest expense when starting a coworking space.
When starting a new coworking hub, the primary expense is still high rental costs. Rent costs more than employee wages (16%) and upkeep costs (15%) combined, accounting for 40% of total expenditure budget.