Co-Working Spaces Get the Tick of Approval

The co-working model is becoming increasingly popular around the world, and a recent survey shows many of those who work in shared office spaces report an improved overall sense of wellbeing.

Leading co-working space operator The Commons surveyed its members and found 64 per cent felt their wellbeing had “definitely” improved as a result of working in a shared space. Another 26 per cent reported their wellbeing had improved “somewhat”, 8 per cent were “unsure” and only 3 per cent reported no improvement.

According to the survey, a majority of members would be reluctant to return to a traditional office environment, and 93 per cent would recommend co-working to their friends or business network as a way to boost productivity, improve social interaction and enhance networking opportunities.

The 2018 Global Co-Working Survey revealed the number of co-working spaces worldwide is forecast to grow to nearly 19,000 offices by the end of the year, and the number of workers within those spaces is expected to reach 1.7 million.

Three years ago, when The Commons launched its first space in Collingwood, co-working had already been around for 10 years, but as an industry was still considered to be in its infancy in Australia.

In the next three years, The Commons plans to expand from five to 15 spaces around the country. The company wants to play a leading role in the revolution to grow the Australian co-working market from 0.6 per cent of total office stock to match central London’s 4 per cent or New York’s 1.2 per cent.

The Commons co-founder and CEO Cliff Ho says the Australian co-working market will strengthen as more businesses become accustomed to the lifestyle and its benefits.

“The Australian co-working market is still in its infancy, but more and more businesses are bucking the trend of a traditional office set-up in favour of a shared working environment,” says Ho.

Many members at The Commons cited benefits such as hosting clients and business partners in an office that would otherwise be unattainable as a start-up or new business, something that helped accelerate their business growth.

The Commons is currently used by more than 600 members with locations in Collingwood and South Melbourne, with Sydney, Melbourne CBD and Cremorne set to open in 2019.