Coworking vs. Serviced Office – Which is best for your business?
Choosing an office space is no easy task, but thankfully there has been no better time to do it. These days, many companies are moving to what is called “flexible office space” — offices you can lease for shorter periods of time, and that have the ability to scale up or down with you as your team grows and evolves. Perhaps the two most common forms of “flexible office space” are coworking spaces and serviced offices. So, what’s the difference? And how do you know which is best for your business? We break it down for you below:
There are three main components you should consider when comparing coworking spaces and serviced offices:
1. The Workspace
Coworking spaces tend to have an open concept floor plan, making it easy for collaboration and sharing the facilities. They tend to have a more “lifestyle” feeling, some with features and amenities such as pool tables, bars, and even nap rooms. You can choose to rent by the desk, either selecting a “hot desk” or a “dedicated desk”, or you can rent a full suite for your entire team. The leases are flexible, so its easy to scale up or down as your business evolves.
Most serviced offices are more compartmentalized than your average coworking space. Typically, these spaces are broken up into individual “cubicle style” desks, or private offices and suites for individuals or teams. However, some serviced offices, such as Workspace at Keppel Towers, offer hot desking and dedicated desks as well. Like coworking spaces, they also have some shared facilities like meeting rooms, board rooms, and pantry areas.
2. The Design
Coworking spaces typically have a more relaxed, casual atmosphere. As mentioned above, they are usually designed for collaboration using an open floor plan style. The design will vary from space to space, but you can expect the facilities to be modern, creatively inspired, and each having its own little twist depending on its community identity.
Serviced offices have more of a corporate/professional look and feel. The mood and colors will be much more toned down as compared to a coworking space, and the design is not made for collaboration. This may be good for some, as it can allow for more independent, quiet, head down work.
3. The Culture
Commonly inhabited by startups and freelancers, the culture of many coworking spaces exude the entrepreneurial spirit. These work spaces usually, if not always, employ a community manager who is in charge of onboarding new members, maintaining the space’s culture and igniting collaboration between members. They may also host regular events like weekly community lunches, or networking drinks. It is important to note that coworking comes in many different shapes and forms and that some spaces are better suited for certain companies or industries than others. For more information, check out our break down of the 5 Types of Coworking Spaces here.
Serviced offices are occupied by businesses of all sizes — from one to two man teams to teams of 20 or more. It is very common for corporations to occupy these spaces for short term projects, or during office relocation or renovation. Unlike coworking spaces, there is no distinct culture facilitated by a community manager or member.
Have a better idea of which type of office is better for your business? Browse the widest range of coworking spaces & serviced offices in Singapore at gorillaspace.co.