Are Coworking Spaces Right for Your Freelancing Career?

Posted on 9th July 2018 by Phil Ainley

There is a lot of emphasis put on the benefits that come with freelancing. Lots of people focus on the fact you get to work at home, alone, all day long. Yet, for most coworking spaces could be a more productive option.

As we touched on in our recent freelancer challenges blog, an actual freelancer knows that this isn’t always a good thing as loneliness can quickly creep into your daily routine. It’s a problem plenty face in the freelancing or entrepreneurial lifestyle and one that you should learn to combat early on to avoid it evolving.

To avoid the dreaded freelancing loneliness, you may have considered a number of solutions; including using a co-working space. Whether these spaces can work for you or not depends on a number of factors, which you need to keep in mind when trying them out. These factors of consideration include:

Price Points

One of the biggest considerations to make when deciding whether a co-working space is right for you or not is, of course, the price. Can you afford the monthly cost versus that of using your dining table in the long term? Even though it is substantially less to rent a desk in a co-working space than a private office, the costs can still mount up and be unrealistic in the long term. It is a decision which you need to make dependent on your own freelancing finances and if you think this will be sustainable in the long term.

The benefit also comes from the opposite side of this argument. If you want the facilities that a modern office offers but don’t have the money to pay for your own space, then a co-working space is the ideal alternative. Some spaces even offer you things you could never access working at home unless you spend a lot of money, one co-working space in Manchester, for example, offers the use of music studios! You can even hire out meeting rooms in these locations.

So, not only can you benefit both from the conveniences that the space offers, but you can also appear more professional when needed during meetings with clients. As this could make you money in the long term it may be an ideal step for your freelancing career.

Accountability

The problem with working for yourself and largely by yourself all day is the fact that, other than your client, there is no one there to actually hold you accountable. You can easily rush projects at the last minute, causing yourself undue stress and pressure, whilst at home. A co-working space can help give you the necessary motivation to actually work, taking you away from the basic distractions of home working (television, stroking the cat or whatever else might catch your eye that day).

On the other hand, there are also plenty of ways to keep yourself distracted on your laptop whilst sat in a co-working space. The only difference would be the fact that you are specifically paying to sit there. So, accountability really comes from somewhere within yourself. Do you think being surrounded by fellow workers will be the motivation that you need to work? Or will it just be a further distraction?

Networking Opportunities

Again, sitting at home makes it very hard to meet people. Chat screens, phone calls and emails can only get you so far after all. Actively going out and working in a co-working space, on the other hand, puts you in front of the some of the most valuable people that you will find for your networking needs; fellow freelancers and small business professionals. People just like you who may be willing to work alongside you, join up with you to work on projects or even help to get your foot in the door with certain clients.

Of course, something important to consider is whether or not your insurance covers you when you work in a co-working space. Most co-working spaces that you would want to work from should have their own form of insurance to cover the building and those that work there, but you will need to invest in your own insurance as well.

This includes freelancer professional indemnity insurance, but also other types of cover such as public liability insurance or employers’ liability insurance if you work from a co-working space but still employ other people.

If you are unsure about the type or level of cover you need as a freelancer, then don’t hesitate to contact the team here at Caunce O’Hara for more information or a personalised quote.