The global pandemic Covid 19 has transformed businesses in many ways, and the most significant change is the transition from traditional offices to remote working. Many employees have started working from home during the outbreak. But where does the idea of coworking fits in the post-covid world? For many businesses, the need for coworking spaces like Startuptive arises due to offices’ distraction-free environment. Many freelancers also prefer an office to a home for this very reason.

Coworking is primarily popular with startups and freelancers. It allows people to pay only for the time they utilize their services, helping them save a lot of money. It offers a space to network with other people from your domain or even from different fields, helping you in your own work. But with a shift to hybrid working in Covid 19, coworking has become a buzzword for businesses as well. Several large corporate companies have partnered with coworking offices to manage their workspace requirements.

Even after the several benefits that an office space offers, companies worldwide are looking to shift from traditional offices due to the cost of maintaining them. This is where hybrid workspaces come in handy. Coworking spaces like Startuptive in Downtown Toronto can be ideal for businesses that do not prefer full-time remote working.

Before moving on to the benefits of coworking spaces, let’s understand the hybrid work culture.

Hybrid Work Culture – The Future of Businesses

Hybrid work culture is the best of both worlds – the one at office spaces and the other one of remote working!

Hybrid work is a model where you work from the office two or three times a week, and for the remaining days, you work remotely. The advantages that hybrid workspaces offer employees include flexibility, autonomy, and freedom. And for employers, the most significant advantage of the hybrid model is reducing their maintenance cost. In the ongoing crisis, hybrid working models have provided a ray of hope to businesses to operate effectively and provide their employees with the flexibility they desire.

With an increased demand for hybrid working, the need for coworking spaces has also risen. The primary reason people prefer coworking over the home is that they feel distracted and alone working from home. Therefore, coworking spaces in Toronto like Startuptive have become the best solution for the new hybrid model of working.

Benefits of Coworking in Hybrid Work

• Cost-Effective Alternative to Traditional Offices

One crucial advantage of coworking spaces is their cost-effectiveness for businesses. As companies are looking to reduce their operating expenses, these shared spaces can be the ideal choice, offering productive environments without burning a hole in business owners’ pockets. Moreover, it also gives businesses the advantage of flexible payment options without bounding them to long-term leases and rents. Employers can easily change their decisions without undergoing much trouble.

• Scalable Working Environment to Cater to Your Needs

Another advantage that coworking spaces in Toronto offer are their scalable plans. The coworking offices offer setups that cater to your business needs and provide a productive environment. Say you have a small business, then opt for a small portion of the coworking space. You can quickly move to different plans to accommodate bigger teams when your business grows. Whatever the nature of your work, coworking office spaces can facilitate all your activities.

• Opportunity for Networking and Access to a Pool of Talent

A coworking environment helps businesses form new connections and network with talents from different domains. These new connections and contacts can prove to be beneficial for business owners in collaborating with third parties. Besides networking, coworking also boosts motivation for people who hate working alone in isolation. Shared spaces have played a significant role in maintaining employees’ mental health during the pandemic.

Hybrid Workspace – The Way Towards Increased Productivity

Hybrid workspaces offer a scope of greater productivity due to their work flexibility. Instead of entirely relying on remote working or forcing the employees to work from offices against their will and security, hybrid models can benefit both employees and employers. Hybrid work models not only help in creating a better work-life balance but also reduce employee attrition rate as their engagement increases.

With changes in technology, the design of office spaces has also evolved. While cubicles and large office spaces have been prevalent for corporate businesses for thirty to forty years, today, the office spaces have become more flexible with amenities and facilities offered on demand. For instance, a conference room used to be a must in every private office. But now, with a hybrid working model, companies realize that the need for a conference room arises on an as-and-when basis, and by opting for coworking spaces, they can pay for conference rooms on an hourly basis rather than every month.

In addition to the design, coworking offices offer furnishings in accordance with your tastes and business requirements. From printing, mail, and phone booth to canteen and high-speed internet, coworking can be the perfect alternative to traditional offices for your company’s hybrid model of work.

Hybrid Work Models are Here to Stay

After experiencing remote working, employees expect to continue working from homes for a few days in a week, even after covid. Businesses are also considering supporting this arrangement due to the increased productivity of workers and reduced expenses of employers. Besides, people also crave spaces out of their homes to connect with people and work in a distraction-free environment. Catering to these requirements, companies have taken the big leap. The future of work is hybrid, and coworking spaces are the best bet for businesses.

The Way Forward

With all the benefits coworking spaces offer, there is no reason not to adopt a hybrid model for your businesses. The best part? Coworking offices provide safety and security to unburden you of the biggest concern during the ongoing pandemic. So if a safe, affordable, and productive hybrid workspace is what you are looking for, it’s time to scout the internet and find the best coworking spaces in Toronto near you!

Check out Startuptive!

With the advent of Covid-19, work structures all around the globe witnessed a drastic transition from offices to work from home. Although work from home was becoming a popular idea for some companies even in the pre-pandemic times, most larger companies could have never imagined working remotely.

When working remotely, people have always considered the idea of coworking to increase their networks, creativity, and productivity. But the question is, will people still prefer coworking post-pandemic? How has Covid 19 and remote working affected coworking spaces? Let’s answer some critical questions about the future of coworking in the subsequent sections.

What is the Future of Coworking?

With remote working becoming the new normal, a significant proportion of the workforce will be working from home instead of office spaces. However, home is not the only option. Several people do not have a productive workspace and environment in their homes, increasing the need for coworking spaces post covid like Startuptive.

The idea of freelancers and entrepreneurs working in coworking spaces or private offices in the shared office spaces has always been in play. But it will be exciting to witness the increasing need for coworking spaces by large companies in the post-pandemic world. As companies emphasize cost reduction and flexible workspaces, the need for coworking facilities will increase instead of traditional work offices.

There is a need for agility and change in the coworking businesses to operate in the wake of the pandemic. Why? Read on to find out.

Why Does Coworking Industry Need to Implement Changes?

The concept of coworking at the pandemic’s peak seemed like an absurd idea. Why? Because of a large number of members coming together to use shared desks and common areas. In the last two years of extreme uncertainty, people have become more conscious about their health and social distancing.

Many people assumed that coworking spaces would no longer provide safe working areas and eventually lose their appeal. But as already mentioned above, the need for coworking will increase for companies and freelancers in the post-pandemic era. This is where the need to implement changes arises.

Here are some of the changes that will shape the future of coworking post-Covid.

How Will Coworking Change in the Post-Covid Era?

The Covid 19 crisis has made coworking spaces more appealing. Coworking businesses have seized the opportunity to provide a more flexible working environment to their members and re-strategize their approach to revive customer trust in their services.

• Workspace Design Where Health Will be #1 Priority

Anticipating businesses to bounce back, coworking spaces are expected to become even more popular in the post-covid era. Companies are now looking for areas that offer greater hygiene, safe interactions, and social distancing. The flexible environment and meticulously crafted strategies promoting safety and health attract several businesses.

Furthermore, coworking spaces post covid can implement a policy that urges businesses to work in shifts so that the offices do not cram with people in close contact. The coworking spaces now also include isolation rooms for anyone who develops covid symptoms, keeping in view the constant emergence of covid waves.

• Increased Demand from Large Companies

The global pandemic witnessed the most major digital transformation. Most large businesses now consider adopting flexible working options like remote working or coworking like Startuptive located in Toronto with options of getting private offices, meeting rooms and conference rooms. Coworking was already getting popular before Covid 19, but the pandemic fueled it up.

Compared to traditional office spaces, businesses now may adopt hybrid working models. In addition, the future of coworking also includes redesigning the offices to inspire more creative ideas and offering a favorable environment to increase employee productivity.

• Technology Adoption is the New Focus

With a growing shift in the digital world, coworking will require adopting technological advancements that are relevant in the post-pandemic world. Technologies like machine learning, artificial intelligence, internet-of-things, and virtual reality are some of the technologies coworking spaces have now adopted to enhance their monitoring and asset management.

In line with people’s safety and hygiene needs, coworking companies have also adopted technologies to provide their members with a contactless experience. Advancements like automated doors, coffee machines, sensors in taps have helped companies reduce the risk of cross-contamination.

• De-Densification – A New Trend in Coworking

It’s not the most robust species that survive; it’s the one that can quickly adapt to change.

De-densification is the solution to adapt to change – the disruption in the workspace design to unlock benefits in the post-covid era. Ensuring the installation of long work tables and effective partitions to minimize risk infections helps members maintain social distancing at the coworking spaces.

Besides physical distancing of the assets, de-densification also ensures better sensitivity towards high-contact areas, ranging from entry points at the start of the day to exit points at the end of work. De-densification is most definitely one of the methods that make the future of coworking a bright one!

• Boost in Investments and Mergers

With an increased demand for flexible, tech-enabled work options by freelancers, entrepreneurs, and corporates, coworking companies will witness a massive surge in their demand. Because coworking spaces post covid play a significant role in the “New Normal,” real estate players and global investors will look to invest or collaborate with coworking spaces in need of money.

The future of coworking will undergo various modifications and alterations this year to allow more customization and flexibility in its members’ working structures. Moreover, the smaller, unorganized coworking sectors will begin merging with the prominent players in the industry.

The Road Ahead

The numerous benefits that coworking spaces like Startuptive offer are your cue to start looking for a coworking office space that caters to your requirements. Even after the world went through a crisis, the future of coworking looks profitable. With customizations and modifications underwent by the coworking industry, it remains the most viable option in the present and future.

So if you want to work in a safe and healthy environment that promotes your creativity and productivity, what are you waiting for? Scout the internet for coworking spaces near you and rent the one that fulfills your needs, either as a freelancer, entrepreneur, or corporate business.

In recent years, entrepreneurs, remote workers, and freelancers worldwide have started flocking to shared workspaces. Coworking has provided several benefits to individuals and companies, ranging from flexibility and productivity to networking and amenities. And to add to the list of benefits, you even have the advantage of tax deduction! Paying for a coworking space like Startuptive comes with several tax benefits to unburden you from some of your expenses.

So if you are new to shared workspaces, here’s everything you need to know about coworking space tax deduction.

But first, let’s address the question of the hour – Are coworking office spaces tax deductible?

It’s the answer you have been looking for. Yes, coworking spaces are tax-deductible! The cost of using a coworking office space counts as renting an office and includes the following items:-

• Your regular coworking membership fee
• Rental fee of the conference rooms and meeting rooms
• Cost of networking events
• Printing fees
• Business mailbox
• Live answering services

Is Food a Tax-Deductible Item in Coworking?

To answer this question, you need to understand the nature of the purchase. For the costs of your daily meals at the office, the answer is no. Even if you eat food at your coworking space during work hours, it counts as a personal expense and is therefore not a tax-deductible item.

However, if you spend money on food for business meetings at the coworking office space, you have the right to claim a specific percentage of the total expenditure.

Is the cost of commuting tax-deductible?

Rules for coworking space tax deduction on commutes are pretty tricky. If you travel to a particular location of work or coworking space regularly, then the expenses are not tax-deductible. However, if you primarily work from home and travel to coworking spaces for meetings, only as and when needed, then the cost of travel becomes a tax-deductible item.

The Difference in Tax-Deduction for Coworking Spaces and Home Office

The cost and expenses of coworking or private offices depend on several factors, including your type of arrangement and the location. Having a dedicated desk will usually cost you more than a lounge seat or a virtual office. The perks offered by the coworking spaces also significantly affect its prices. While comparing the costs of coworking spaces with home offices, the latter will seem like a cheaper option. However, it’s critical to note here that even home offices have the following costs:-

• Energy bills, which may double up during winters
• Expenses involved in assembling home-office equipment, including desks, chairs, laptops, lighting, and more
• High-speed internet connections to avoid video lag

Tax benefits for coworking and home offices are calculated differently. Freelancers who work from home can get a percentage of their rent deducted based on the square feet they use for their office set up. However, when a freelancer does not have a dedicated work office and uses a living room or kitchen table, tax deduction calculation becomes quite difficult. On the other hand, coworking spaces face no such issues in tax calculation. However, along with the rent receipt, ensure having a receipt of all other business expenses incurred at coworking spaces.

Still Confused About Coworking?

Coworking offers financial benefits in two ways. First, by paying money only for the time coworking spaces are used. Second, by later deducting your expenses during the tax season. So if you are still confused, think again. Do you really want to let go of all the advantages it offers? To reap all the benefits of a shared office spaces, explore your options and choose the coworking space or shared office that fulfills your business needs and requirements. Check out Startuptive if you happen to be in Toronto Area!

But who are these people? Who uses coworking spaces and why? Are these really as trending?

To answer the first question – who? Well, everyone, every professional from every industry, irrespective of the type and size, are reaping the benefits of a coworking space. Specifically, here’s a list of the most common professionals who tend to rent out coworking spaces:-

• Creative People

Also known as “creative cities”, the very concept of coworking spaces was designed to host entrepreneurs and creative-minded people striving to break down the barrier of isolation and get out of work from home models. Simply put, coworking spaces are the perfect replacement for a conventional workplace. The only differences are that you get a lot of amenities, an inspirational work environment, and flexible terms & conditions.

According to the study of Bruno Moriset, a professor at the University of Lyon, coworking spaces are ideal for people with creative and digital jobs. He also mentioned that creativity must be organically developed through the complex relationship between working and socializing.

• “Lone Eagles” or Freelancers

Ranging from architecture, journalism, design, music/video production to legal, accountancy, and software engineering, freelancers can work for any company and from any part of the world. However, they all suffer from a lack of structure. Coworking spaces are the answer to this problem.

By helping them provide access to meeting rooms, technology, and social environment, coworking spaces not only offer them an opportunity to make themselves legit with a professional address but also mitigate the lack of stability while giving them the same level of freedom they are accustomed to.

• Entrepreneurs and Fast-Growing Businesses

Incubators, business centers, telecenters, and working “third places” are some of the most common adjectives used to define a coworking space. This hybridization of workplaces is particularly beneficial for entrepreneurs and fast-growing businesses. Here’s why…

When you are just starting out, connections are your golden tickets. The more you network, the more your business will grow. That’s the law of business. Coworking spaces offer entrepreneurs and scaling companies the perfect opportunity to build invaluable connections that can help you gain a competitive edge. Beyond connections, coworking spaces also offer flexible working models wherein business owners can grow or reduce the number of desks as per their business needs.

The List Doesn’t End Here…

The word limit may be over for this blog, but the list of people who can use and reap the benefits of coworking spaces is definitely not. Ranging from architects, doctors, lawyers, consultants, HR to media, and virtually anyone who is a carrier of projects and ideas, wishes to share them with others and favors collaboration can leverage the power of coworking spaces.

Do you fall under any of these aforementioned categories? If so, what are you waiting for? Scout the internet for Startuptive (Coworking space located in Toronto) and become a member NOW!

Coworking is a concept introduced in the year 2005. Since then, it has become a global phenomenon and keeps on evolving according to the changes in people’s working styles. Coworking is when people from various career paths use common spaces to work on different projects individually or as a group. However, it is not just about sharing the infrastructure but also belonging to a community.

According to Google, coworking is “the use of an office or other working environment by people who are self-employed or working for different employers, typically to share equipment, ideas, and knowledge.”

Coworking spaces like Startuptive provide a collaborative and encouraging environment to the individuals. The best part? It offers numerous benefits and facilities like WiFi, phone booths, printing services, gym on-premises, event & lounge spaces, gaming areas, and more. These benefits are offered to keep you motivated and increase your productivity, ultimately resulting in the growth of your business.

Did you know, Kevin Systrom and Mike Krieger developed the Instagram app in a coworking space in just eight weeks? Maybe you can give wings to your ideas just like these two business tycoons, what say? Coworking is starting to sound like a good idea, right? Well, read on to find out how it’s better than a traditional office.

Traditional Offices vs. Coworking Spaces

Both traditional offices and coworking spaces have their own pros and cons. However, there are considerable differences between these working spaces, some of which include:-

• The Expense Varies Greatly

In traditional offices, it costs you more both financially and in effort. Ranging from security and maintenance, stationery and cafe to parking and lease, it is your responsibility to allot resources for fulfilling and managing these functionalities.

However, the coworking spaces for rent are much more affordable in both cost and effort. All you have to look out for is the total cost of a private office or a dedicated desk, the other built-in facilities will follow. From a stocked coffee pot to getting packages delivered straight to your desk, you get everything you want.

• The Creative Thought Behind Designs

What is the first thought that comes to mind when you think about a traditional office setup? Probably poor-lit spaces and stubby cubicles. These monotonous layouts are designed to accommodate as many employees as possible. Although this may not be true for all offices, these are the emblem of conventional office spaces.

On the other hand, coworking offices are built to enhance creativity and productivity. How? By providing you with a creative and purpose-driven environment. From vibrant designs and colour splashes to comfortable furniture and bay windows, everything in a shared space is fashioned to promote energy, productivity, and creativity.

• The Difference in Community and Environment

Traditional workplaces create barriers to networking opportunities. Fixed cubicles discourage communication flow within the company. Even if you network with other employees, it is limited mainly to the same office or the same industry.

As opposed to this, coworking offices outshine traditional offices in terms of networking and community. The shared areas provide an opportunity to meet people with various backgrounds. Ranging from a lawyer and architect to a doctor and artist, you can build a community of like-minded people.

The Future of Coworking

The coworking market is expected to have a yearly growth rate of 21.3% from 2021 onwards until 2024.

Source: https://www.jobadvisor.link/2020/07/number-of-coworking-spaces-worldwide-to.html

With several people shifting from the traditional career paths, there will be a leap in the number of entrepreneurs and freelancers requiring coworking spaces for rent. Check out Startuptive located in Toronto, Canada if you are bored of working alone and want to reap the benefits of shared workplace facilities.

Break down the walls for a breakthrough in your business.

Today, coworking spaces like Startuptive play a massive role in making businesses more collaborative, positive, and holistic. They help in building workplace relationships by interacting with like-minded individuals. Irrespective of your career option or industry, socializing with coworkers is a vital aspect of success.

How?

Having good relationships with coworkers becomes crucial to make your work environment comfortable and enjoyable. Positive coworker relationships help you gain confidence for raising opinions and boost your communication skills. Moreover, it can also increase productivity by letting you focus on positive opportunities rather than negative relationships.

But the question that might be running in your head is – How to build effective relationships with coworkers? There are some effective tips to help you tackle this problem. Let’s dive in!

• Break the Ice With an Informal Conversation

As independent workers, you may have many exciting things in common to collaborate and network on. This can be an excellent opportunity to build coworker relationships and spark innovative ideas for your business.

Here’s what you can do:

• Start with a conversation that isn’t business-related.
• Focus on building a first impression, preferably a good one.
• Put in your opinions when asked for suggestions.
• Participate in social events with your coworkers.
• Have Lunch Together

Starting with something as small as going on lunch breaks together can make your coworkers feel comfortable around you. A quick chat across the table or perhaps a cup of joe in the cafeteria can help build long-lasting relationships with your coworkers. The best part? It can even result in some business ideas or a fruitful partnership.

Apart from lunch, you can also socialize in the gaming area or the gym at your coworking spaces. It can help you relax and take a break from brainstorming sessions. Simply put, such activities can allow you to understand your coworkers better and form a friendly relationship with them.

• Acknowledge the Differences in Culture

Every coworking space is established with a different culture. Some areas are exclusively for women, some for entrepreneurs, some for freelancers, and so on. However, there are some spaces that are common for all.

This is where it becomes critical to understand and adapt to the culture. Each colleague can have a different set of values and working styles. For effectively building workplace relationships, you need to be open, adaptable, and respectable to different working styles and cultures in your working environment.

• Be Keen on Helping Your Coworkers

Helping people out is one of the most successful ways to build better coworker relationships. If you find a coworker struggling with a particular task, help them out by providing some advice. If you see someone lifting a heavy box, give them a hand.

Helping people can make them trust and like you. Moreover, it will also ensure that they help you out when you are in need. However, do not go overboard. Some people do not like too much interference in their work. Make sure that your help is acknowledged and appreciated before offering one.

The Way Ahead

Networking, socializing, and maintaining positive coworker relationships are essential aspects of a work environment. Strong and meaningful relationships with your coworkers can make you feel constantly supported and enable you to have an enjoyable time at work. With the increasing benefits of effective workplace relationships, ensure working in suitable coworking spaces like Startuptive to put your best foot forward.

In 2019, there were more than 3 million coworkers globally. Out of which, the IT industry held the most significant percentage, followed by PR, marketing, and sales. And this number is expected to grow 2X by 2022.

These increasing numbers are a result of three primary factors – practical, financial, and cultural. But what are coworking spaces? Are these really as beneficial as these statistics suggest? Let’s find out!

What Are Coworking Spaces?

The name is pretty self-explanatory. Simply put, coworking spaces are a service that simplifies the transaction of assessing and occupying a workspace wherein you work alongside like-minded people from the corporate environment.

Why Use Coworking Spaces for Rent?

Apart from the significant cost-reducer, coworking spaces also provide benefits such as:-

• Good Old “New” Fashioned Flexibility

Most coworking spaces don’t have a lot of strict rules, whether it is in terms of contractual terms and conditions or workspace policies. However, some may be newly enforced due to the Covid-19 pandemic, like social distancing and proper sanitization. So you can easily book a private desk, a lounge seat, and even an entire floor based on your business requirements without being accountable to anyone.

Moreover, it’s easy to scale your operations as coworking spaces for rent offer hassle-free plan switching. So one month you can remove a private desk and add a virtual seat, while the next, you can add 2 or 3 lounge seats as required.

• Excellent Networking Opportunities All Around

“Your network is your net worth.” – Peter Gale.

Networking is not just about collecting contacts; it’s about planting relations. And coworking spaces are an excellent place to do that. Whether you are an architect, a marketer, a lawyer, or a doctor, being around like-minded people can actually help your business grow with networking. After all, it is an unwritten rule of success in the business world.

Moreover, who knows, you may even find potential clients or partners who may be able to help you with your projects.

• Coworking Spaces are a Productivity Booster

The latest survey found that 84% of coworkers are more motivated while operating out of a coworking hub.

Coworking spaces are high-energy places where people work with a lot of creativity, productive energy, and enthusiasm. So by immersing yourself with purpose-driven talent from almost every industry, you can stay motivated and more inclined to work, ultimately increasing productivity.

• Amenities On The Go

Let’s paint a couple of pictures:-

• Let’s say you have rented out a space in a corporate building. You’ll have to set up the furniture, take care of the electric bill, pitch in for pricy wifi plans, and of course, go out to grab a snack or a quick cup of joe.
• Let’s say you have opted for coworking spaces. You’ll have a snack bar inside the premises, so no need to go out. You’ll even get a gym, parking at reasonable costs, hi-tech conference rooms, and most of all a high-speed internet connection, which, as you know, is a necessity to work in today’s digitally-powered world.

Still Think Coworking is Not a Great Idea?

Well, think again. Do you really want to give up on saving approximately 30% on operational costs? Do you seriously want to pass up the opportunity of expanding your professional network and as a result, your business?

If you want to reap all these above-mentioned benefits and more, start scouting Google, the almighty for coworking spaces to rent, and find one that fulfils all your business requirements.