How Co-Working Space (Shared Office) differ from a Traditional Office — Part 1
“Co-Working” is currently the most misunderstood lingo in commercial real estate and corporate world. Whether you talk to your friends, potential tenants or brokers they want to know whether your office space is “Co-Working” or not. Co-Working Space is just a type of Shared Office, which in turn means an office space shared by multiple tenants and not just one as is the case in a Traditional Office. Other types of Shared Offices that exists or have existed for decades are Business Centres and Incubators / Accelerators.
I shall be publishing a series of short articles on how a Co-Working Space (Shared Office) differ from Traditional Office space. In case you are planning to start a “Shared Office” you may use these article as a reference guide to clarify yours’ or your friends’ or clients’ doubts :-)
Components of Co-Working Space vs Traditional Office Space
Components of a Co-working Space (Shared Office) primarily differ from a Traditional Space in the Breakout area and Hot desks, which provide the backbone of co-working culture. Not to forget the fact that unlike a traditional office, co-working space has multiple tenants sharing the same space, resources and services. Hence, community and culture define a Co-working space as compared to company driven culture at a Traditional office.