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While London rents are still low, the cost in overhead to manage an office is still very high for a fledgeling business. To compete, many businesses are finding alternative ways to balance finding reasonable office space in prime locations. Fortunately for many business owners in London, the coworking space is the perfect fit out for your business.

With coworking spaces dotting the city’s landscape, there seems to be something for everyone. Primary the hub of the startup, these coworking spaces have grown to include many other business types, and let’s not mention East London’s Tech City which houses many tech industry businesses. Joining a coworking space in London can be an introduction into a new way for businesses to establish themselves in the community.

Continue reading to discover the various ways that a London coworking space can benefit your business.

Proximity 

The city is usually the hub of much business because it draws traffic for a variety of reasons. In London, the business district and tourist hangouts are two of the many reasons why people flock to this urban centre every year. Unfortunately, standard office space in the CBD prices out many professionals because rents for office space in London are some of the highest in the world, much less the country.

The coworking space, however, can place your business smack dab in the middle of the busiest areas whether you are working in West or East London. Because coworking is much less expensive than the standard office, you can actually work in business centres where you have access to foot traffic and resources. In essence, coworking fit-outs can provide your business with proximity to other businesses that help businesses grow.

Networking Potential 

The great benefit to businesses adopting the coworking platform is that you have unending opportunities to network within the space and in the community. Most spaces worth their salt will host events for community members that encourage and even promote networking within the space. Through these networking opportunities, businesses can build a foundation of contacts for further business. 

Mentoring Possibilities 

One of the offshoots of networking events is the ability to meet mentors. While the tech-savvy world has made much of work very efficient, nothing takes the place of building relationships with others that can show you how to navigate industry politics. In a city as large as London, businesses can really benefit from establishing relationships that can create further connections down the road. In the coworking space, your mentor can be a liaison to the larger business community or they can simply be a source of advice and wisdom. 

Access To Other Markets 

The coworking space places you in the position of taking advantage of other markets. Because space is relatively inexpensive, businesses looking to establish themselves in other parts of town can do so without the hassle and worry of having to lug office furniture and equipment across town. If not totally sold on an area, the coworking space can be leased for a short time while you test the market. 

Coworking Programs 

A draw for many coworking spaces is that some incorporate incubator and accelerator programs into their menus. These programs can hasten your business’s growth by introducing the startup to activities that can help build business growth quickly. For the most part, London’s coworking scene has a number of opportunities to participate in these types of programs.

Benefit From London’s Coworking Scene

London is one of the most fascinating cities in the world to visit and offers businesses and tourist alike the experience of being in an old world culture sped up by modern technology. Through your coworking space in East or West London, your business can also benefit from the number of amenities that make working in London productive. Ultimately, the variety of coworking spaces provide you with ample opportunity for growth by connecting to this diverse community.

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