Inside Entrepreneurial Coworking Spaces

6 minute read

Aerial view of Sparq's coworking community workspace in the Innovation Quarter

There are workspaces that serve as a means for getting the job done, and there are workspaces that help professionals thrive.

Before coworking spaces, entrepreneurs were often left with limited options when it came to finding suitable workspaces:

  • Home offices lack the professional environment needed for in-person meetings.
  • Coffee shops are noisy and offer limited amenities.
  • Public libraries have limited hours and often lack necessary resources.

The increased popularity of coworking spaces means more options and flexibility for professional workspaces. If you are an entrepreneur, some coworking spaces may be more properly positioned to support your goals than others. It’s important to consider whether or not the workspace will cater specifically to your entrepreneurial needs in terms of physical space, accessible resources and community engagement.

What is an Entrepreneurial Coworking Community?

Entrepreneurial coworking communities consist of shared workspaces designed specifically to support business owners or those looking to bring their ideas to life. They may have dedicated accelerator programs that provide entrepreneurs with mentorship, networking opportunities, professional development workshops and access to funding. Such spaces may also have areas designated for specific purposes like prototyping labs, equipment storage and events to support the growth of innovative ideas and the leaders behind them.

These spaces are designed to emphasize collaboration through both proximity and programming. This results in a diverse coworking community characterized by entrepreneurs, innovators and experts in their fields.

Benefits of Working in an Entrepreneurial Coworking Community

Network with Other Professionals

Entrepreneurial coworking communities can be game changing for anyone looking to start or grow a business. They provide a highly interactive, creative environment among a vast network of accomplished mentors and opportunities to build meaningful relationships. These dynamic workspaces enable entrepreneurs to tap into an eclectic community of driven individuals to gain critical feedback and expertise.

As an entrepreneur, you can benefit from surrounding yourself with professionals in other industries. This includes finding inspiration, learning new skills and habits, collaborating with others and enhancing problem-solving abilities. This exposure to various perspectives can help you grow and develop a more innovative and forward thinking approach to your work.

Increase Credibility

Establishing a reputable and authoritative image can be critical to cultivating success in the competitive business landscape. One of the most effective ways to enhance your professional image and build credibility is by securing a distinguished, onsite location with a professional business address. Partnering with established organizations in the coworking community can also increase credibility through association and guidance on best practices.

Attract New Hires

As your business grows, it becomes increasingly important to attract and retain the best talent. Offering a dynamic and inspiring workplace culture and community can be a powerful draw for top talent in today’s job market. This includes workspaces designed to foster connectivity and promote a healthy work-life balance. Benefits like an active downtown, areas to convene outdoors and plenty of dining options can influence this. Being surrounded by a vibrant community of professionals also enriches the in person work experience and encourages inclusivity among the ecosystem. By leveraging the unique benefits of an entrepreneurial coworking community, you can provide your team with access to an engaging and stimulating work environment.

Choose from Flexible Office Space and Costs

At the heart of any successful business is the ability to adapt to change and embrace flexibility. An entrepreneurial coworking space may have a more flexible layout, with shared workspaces and private offices that entrepreneurs can choose from depending on their needs. Most offer month to month leases or other adjustable office space options, so that you’re never paying for more space than you need and you’re free to expand when necessary. Options can range from single day passes to month long memberships, so you can choose a plan that allows you to focus on building your brand and scaling your operations with confidence. Whether you’re a startup looking to test the waters, or an established business looking to expand your footprint, flexible lease options provide the agility you need to succeed in an ever changing marketplace.

Save Money through Accessible Resources

Coworking spaces often bundle resources that ultimately save business owners time and money, such as:

  • Office Space: Coworking spaces provide affordable office spaces that include furniture, utilities, cleaning services and high speed internet. This saves startup business owners from the expense and hassle of setting up their own space and services.
  • Meeting Rooms: Conference rooms fully equipped with teleconferencing and presentation technology ensure a professional, reliable space to close deals and discuss closed door matters.
  • Business Services: Utilizing printing, mailing and other business services that coworking spaces provide can increase efficiencies. Professional services like office hours with attorneys, accountants and marketing professionals can help with navigating business challenges. Some entrepreneurial coworking communities will have connections to individuals from local and national venture capital companies who will listen to practice business pitches and provide feedback.
  • Amenities: Don’t forget the bells and whistles. Many coworking spaces provide perks such as kitchens, lounges or coffee makers. Such amenities can increase the space’s appeal while saving startup business owners from the expense of maintaining their own facilities.

Entrepreneurial coworking communities have revolutionized the way independent business owners work by providing a dedicated workspace and a strong, supportive ecosystem to build and grow their businesses. From professional networking to environments that prioritize work life balance, coworking communities designed with entrepreneurs in mind can position budding businesses for long term success.

Join an Entrepreneurial Coworking Community

Being part of a dynamic, diverse coworking community catered toward entrepreneurs provides access to the right resources at the right time. Sparq™ is a small business launchpad committed to accelerating those connections between startups or small businesses and resources in downtown Winston Salem. As part of Sparq™, members are immersed in the Innovation Quarter community and can have access to:

  • Strategic partnerships with anchor institutions and other notable members of the innovation ecosystem.
  • A variety of mentors and connections to accelerator or grant programs.
  • Networking and community building events, including member only events (like monthly Community Happy Hour and Community Lunch).
  • Designated mailboxes, conference rooms and private offices/suites.
  • A shared kitchen space and coffee bar stocked with coffee, espresso and beer.
  • Discounts for event space, local shops and
    professional benefits.
  • 115+ restaurants within walking distance.

Ready to immerse yourself and experience the benefits of being part of a coworking community? See what it’s like to join downtown Winston Salem’s thriving ecosystem as an entrepreneur.

Cover of Innovation Quarter's eBook titled "Ten Reasons Why Winston-Salem is One of the Best-kept Secrets among Entrepreneurs and Startups"

The Secret Is Out

Winston-Salem is rapidly making a name for itself as a top midsized city. From a thriving innovation ecosystem to a diverse cultural experience, Winston-Salem has what startups and entrepreneurs need to hit their stride.