Businesses are mushrooming across the country and the need for physically-collaborative workplaces, which do not burn a hole in the pocket, is increasing. Are you, or somebody you know, a bustling entrepreneur hell-bent on finding shared workspace Toronto, but not sure if it is the right move? Take a moment to consider the pros and cons listed below.

Pros:

Location, location: The number one reason for many businesses in choosing a shared workspace could be location. Was it your dream to own an office at the epicenter of commercial Toronto or close to up-and-coming mercantile Markham? Then, a shared workspace might be a cost-effective answer.

Bang for the buck

With property rentals shooting north of the border, a shared workspace Toronto is as close a business-owner can get to owning his/ her own office. Undeniably, co-working is economical. If yours is a business that is bootstrapping, you have even more reason to consider this viable option.

Building networks

Have you gone bar-/ event-hopping trying to hook-up potential clientele?  Shared workplace Toronto offer this opportunity without ever having to step out of your office. Be it the blossoming of a new idea or a budding friendship that could turn profitable, working alongside other businesses has its perks!

Flexibility

Got commitment issues? We don’t blame you. A new business could expand and contract due to a number of reasons. Open offices accommodate the shifting needs of businesses. Short-term leases and/ or day-passes allow for easier access to a space without the need to commit for a longer term.

Learning Resources

A number of business centers organize workshops, meet-and-greet events and lectures. Ongoing learning is as crucial to a business as its core functions. Employees, who feel invested in, stay with the company. Educational opportunities are a great reason to choose a co-working space.

Cons:

Privacy? What’s that?

If your employees and you work well in seclusion, then slowly, but surely, walk away from shared workspace Toronto. Especially if it is a co-working space without physical boundaries, such as walls and cubicles, you can forget confidentiality and any idea of privacy. However, there may be boardrooms offered by some business spaces that could come to the rescue.

Disturb-Me-Not

Do you not like noisy neighbors? How about noisy neighborhood businesses? Distractions in open offices come in all forms – co-workers’ loud cultures, ringing telephones, nosy partners, and more. If yours is a business that thrives on a focused and unwavering environment, then, you might want to think again about shared workspace Toronto.

Printer-Jam

If being caught in traffic jam during the peak hours wasn’t enough, imagine having to queue up to use the printer within ten minutes to a client meeting. While most business centers make sure to house multiple printers and office amenities, the most economical ones might have just one, making it time-consuming to accomplish routine business tasks.

Clash of the Cultures

Any entrepreneur would want to build a team that emanates a specific culture – be it formal, millennial or independent. Co-working can cause cultural-clashes amongst business, especially if your neighbor, in a common office, operates on a workplace culture drastically different from your business’s own.

Freedom of Expression

Most shared workspaces in Toronto follow a standard template in terms of office design. A business has close to no freedom in terms of customizing the workplace, should the owner wish to. However, some centers might make an exception. If you are fan of personalizing your office space, a shared workplace might not be the best idea.

When it comes to co-owning a workplace or sharing, think about your business’s needs, potential for growth and the pain points in owning your own space. Surely, there are two sides to every coin, but you are the best person to pick the side that meets your business’s priorities.