3 post-COVID reasons why governments need to support coworking spaces now.

Over the last few weeks, we’ve seen/heard various levels of government support being offered to coworking spaces, and the (often small) businesses behind them or growing within their walls or corridors. 

 

We expect to see more and more local alliances, assemblies and other cooperative efforts become more vocal about what they’d need to not only survive the current crisis, but to be in the best position to spearhead local economic recovery efforts. 

 

We’ll be tweeting about some of these local efforts as they launch, so be sure to follow @includedco for all the latest.

 

Working alongside, for, and with hundreds of entrepreneurial communities all around the world, we wanted to share 3 important reasons why every government should take a long-hard think about how best they can support these important businesses. Local businesses who have each individually made it their mission to play a part in enabling millions of local businesses, freelancers and economies.

3 reasons why coworking is critical now, and post-COVID.

Jobs. Economic Activity. Entrepreneurship.

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1. Members can, and do, create jobs.

Capital to create new jobs is created directly through the cost-efficiencies of sharing meeting rooms, kitchens, workspace and other business resources.

By reducing the sunk costs usually required to find, setup, stock and run an office, businesses can hire more full-time, part-time and freelance workers.

And we already know how important rapid job creation will be post-COVID.

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2. Direct local economic impact.

Over 2 million people were expected to work from coworking spaces in 2020.

These individuals actively provide a huge financial boost to the neighborhoods and hyperlocal economies surrounding coworking spaces. Whether it's buying meals, commuting, supplies, going out, entertainment, or professional services.

If each member spent just $1 p/day in their local economies on each of the approx 250 working days in a year, that's $500,000,000 in direct economic activity.

And they definitely spend 5x-10x more than that. We'd know.

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3. Supporting unexpected entrepreneurship.

Coworking spaces provide affordable, accessible and approachable physical hubs for local entrepreneurship to flourish from and around.

With millions of humans suddenly unemployed all around the world, having a physical space to regroup, connect and relaunch businesses from will be a critical part of rebuilding any local economy and rapidly enabling first-time freelancers and entrepreneurs.

Whilst they're considered real-estate companies by many, coworking spaces play a huge part in driving forward diversity, inclusion and empowerment in their local ecosystems.

Ofcourse, it should also be noted that a vast majority of coworking spaces are small or medium businesses themselves, creating jobs, training up staff and can often be seen re-investing into both, big cities and some of the worlds’ “forgotten” neighborhoods. 

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