Baltimore, Maryland is on the rise. After years of economic decline and social unrest, the city is witnessing growth in a number of industries. According to the Baltimore Development Corporation, the city is home to several thriving industries – health technology, advanced manufacturing, financial services and culture and tourism. Not to mention, Baltimore is home to one of the world’s leading health systems, Johns Hopkins Health System, a top employer in the area.
Startups and small companies are embracing the Baltimore coworking office space movement. Tenants of all sorts have made the move to capitalize on the cheaper rent for a Baltimore office coworking space. The cost of setting up shop in Baltimore is considerably lower than in nearby metropolitan areas such as Washington D.C., Philadelphia and New York City.
The Baltimore Coworking Office Space Boom
In a Baltimore coworking office space agreement, tenants like freelancers workers, startups, traveling workers and small businesses, share the space. The set-up and arrangement of a coworking office space often varies between location. Some coworking offices are more formal, with several companies sharing the same area every day for a long period. Others are more short-term and temporary. Tenants can rent a desk by the hour or day, without a long-term commitment.
In just a short time, coworking spaces have popped-up on scene all around the country. A study from The Instant Group, the nationwide use of coworking office spaces increased by 10 percent during 2015. Even larger multinational corporations, such as Microsoft, Verizon and Amazon have made use of collaborative working environments.
Organizations such as Hub Baltimore, Spark Baltimore, and Beehive ETC Baltimore all provide collaborative spaces for entrepreneurs, freelancers and startup companies to work side-by-side. Hub Baltimore offers tenants the option of using either a private office or open workstations, or a common area to meet. Hub Baltimore is designed specifically for entrepreneurs and workers in creative and technical industries.
Top Benefits of Coworking Office Spaces
If you’re a freelance worker or a member of a small organization or startup looking for somewhere new to work, consider these benefits of a coworking office space.
According to Harvard Business Review, professionals at coworking office spaces report more job satisfaction on account of the flexibility these arrangements. Given coworking spaces are run on more of a landlord and tenant type agreement, flexibility sores to the top of the list. Most coworking office spaces open early in the morning and close late at night, with some even staying open 24 hours a day.
Coworking office spaces can provide a great sense of community, especially if workers are involved in the same industries. Coworking office spaces that focus on creative innovation are successful because of the collaboration between workers toward a shared vision and/or similar goals. Workers are encouraged to have conversations, share ideas and work together to strengthen the sense of community and collective vision of the coworking space.
3. Low Cost
Freelancers and startups are on a tight budget. Coworking office spaces can be a cost-effective alternative to renting independently. The financial flexibility afforded by this option is ideal for young companies. Internet, phones, printers, and even kitchen areas are also already covered at coworking office spaces, which is another reason why the option is more cost-effective for freelancers and small companies.
The collaborative nature of coworking offices fosters genuine networking opportunities with others in the space. For example, you may belong to a creative staffing startup, and find ideal networking opportunities with the freelance copywriters or freelance graphic designers who also work within the space . Another plus: Coworking office spaces are a great way to scout new talent and also grow your professional network.