Working in a co-working space presents an array of advantages. From industry collaboration to office flexibility, co-working spaces are the latest trend loved by freelance professionals. Whether you’re self-employed or working remotely, these flexible spaces provide the environment needed without the strict guidelines of the past.

But what else makes these spaces so great? Let’s discuss.

5 Practical Advantages of Shared Workspaces

According to FlexJobs, half of American employees hold a job that is compatible for independent work. As the number of independent entrepreneurs rises, the evolution of the workplace does as well.

Co-working spaces are the solution these workers need during times they need it the most. Gathering with other freelancers in a co-working space benefits your growth as well as your business.

Here are five ways that happens.

1. Spark Collaboration

Entrepreneurs must collaborate in order to succeed. If not, they risk missing out on innovative ideas that will help them succeed. Co-working spaces provide the collaborative atmosphere independent workers need in today’s working atmosphere by providing opportunities to network and collaborate with people in and outside of your industry.

For example, Kiln, a co-working space in Utah, brings a variety of professionals together in one space. Unlike regular working environments where you’re confined to mingle within your business. Kiln helps you collaborate with people from your industry that have different insights, as well as professionals outside your industry that can help shape new perspectives.

Co-working spaces like Kiln create communities where you can quickly solve challenges, share learnings, and celebrate collective successes, which is essential in a freelancing workspace.

2. Emotional Connection

One problem freelancers face is loneliness. While working at home sounds like a dream, a few weeks in and it can make you uninterested, unmotivated, and unable to create.

Working together is better. Co-working spaces break through the loneliness and help you feel socially connected. Doing so, you’ll improve your mood, boost energy levels, and become more productive.

3. Affordability

Co-working spaces also make sense from a financial perspective. Rather than leasing an office that accounts for a lot of rising business costs, you can take that money and invest it in other, more beneficial, ways.

Lessening the financial burden that accompanies office leases dramatically helps new startups accomplish their goals. How else do you think most tech conglomerates like Google and Apple started? Not in a traditional office setting.

These financial advantages can largely account for the number of technology businesses that opt for co-working space rather than a traditional office.

4. Add Meaning

In a survey conducted by Harvard Business Review in 2015, researchers found that professionals working in co-working spaces report high levels of thriving with an average of 6 on a 7-point scale. After interviewing those surveyed, researchers said that aside from the type of work they do, freelancers see their work as meaningful.

Since there is little competition or internal politics involved in co-working, those involved have a stronger work identity. This identity also helps you feel stronger about the work you’re doing and, in turn, be more productive.

5. More Job Control

Since most co-working spaces are accessible 24/7, you can choose when you work. This makes it easy to take necessary breaks and to work when you want. Whether it’s in the middle of the day or when the kids are asleep at night, you choose when you want to work. You can even decide day-to-day if you wish to work from home or go into the office without any repercussion from your boss — all in all, co-working spaces allow you to meet your deadlines without any unnecessary drives to the office.

Along with more accessibility, co-working spaces are typically found in the most sought-after locations. Many entrepreneurs live in urban communities where businesses can’t find an affordable location.

Luckily, co-working spaces can be found near your home for an affordable rental price. It’s the perfect option for urban dwellers looking to increase productivity.

Final Thoughts on the Benefits of Shared Workspaces

At the end of the day, co-working spaces are heading the new wave of America’s economic society with good reason. According to numbers based on Kiln’s data, businesses everywhere are saving thousands of dollars every year using co-working spaces rather than typical office settings.

A shared workplace makes it easy to provide your employees with a transitional, co-working environment that helps them thrive while saving money, increasing engagement, and boosting productivity.

Our guest post is written by Brighton Youd, head of Sales and Marketing at Kiln, a co-working space solution company in Utah. Brighton has spent small stints of his young career in technology at Google, Qualtrics and Divvy. He is passionate about solving tough problems and is thrilled to be working with the Kiln team to build a premier co-working solution for the world's brightest tech startups.