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Welcome to the world of shared office space


The New Way to Office: Co-working Spaces

You can join a gym or a club — and now, more and more, you can join a co-working space. How are these shared offices changing work and how can you use one and stay safe? Read on to learn more.

What it is

A co-working space boosts networking and reduces start-up costs. Tenants work independently for different companies. They may lease weekly, monthly or yearly and be provided with a dedicated desk or choose an available workstation.

30%

of office space in America in 2030 will be devoted to co-working spaces (JLL)

Guard your stuff

Learn if you have a dedicated desk or safe spot, such as a locked cabinet. In addition, create a plan for securing files and accessing only a password-protected network.

The extras

Co-working spaces often offer amenities such as kitchens and conference rooms. Read the agreement closely so you understand what’s provided.

What you still need

Internet access may be part of your agreement, but generally you provide technology such as computers or data storage. You may also not be able to store office supplies on-site.

NYC

The #1 market for growth in co-working space(#2 is San Francisco) (JLL)

64%

People who say they’re more timely working in a co-working space (WeWork)

Mind the money

The deductibility of your rent may differ from that of a home office. Ask your tax advisor for information.

Business protection

Your agreement should delineate what’s covered by their insurance and what’s not. Talk to your State Farm agent for details.

1 in 7

Large-company, full-time employees who use co-working spaces during the week (Gensler U.S. Workplace Survey 2019)

Find more tips to protect your small business at statefarm.com/simple-insights.

Return to original article Stay Healthy and Happy in a Shared Work Environment


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