In the past ten years, shared workspaces have grown in popularity. Businesses are coming up with creative solutions for making the most of unused space. Restaurants, health clubs, and hotels are renting space to freelancers and startups. A survey by FlexJobs and Global Workspace Analytics found between 2005 to 2017 there was a 159% increase in remote work in the U.S. Early on in the global pandemic, Clutch reported that 44% of U.S. workers were working remotely.
The Impact of Covid-19 on the Common Office
Landlords are lowering rents in order to encourage businesses to renew their leases. More meetings are taking place online. According to the U.S. Bureau of Labor Statistics the unemployment rate hit a historical high in most U.S. states this year. Businesses are looking for creative cost cutting solutions. As states begin to reopen many companies may choose a shared workspace over a lease.
How Companies Save with Shared Workspaces
Cushman & Wakefield reported in January the average rental rate rose to $30.01 per square foot in New Jersey. Shared Workspaces allow new businesses to save on startup costs and established businesses to expand to new locations. Consider the following expenses you can avoid by using a shared workspace like Flex Work NJ:
- Commercial Lease Taxes
The Benefits of Shared Work Spaces
Since schools in New Jersey have an all-remote option, some parents are finding it challenging to work from home. Remote workers are using co-working spaces to increase productivity. With the uncertainty of when we can return to business as usual, many are opting to rent month to month private offices close to home. Business owners who have opted for their full staff to work remotely may rent a conference room to stagger employees working remotely for weekly meetings. Freelancers create structure to their day by utilizing a flexible office space.
Flex Work NJ is located in Springfield, NJ off the Short Hill’s NJ Transit stop, 10 miles from Newark Airport. It is within 5 of the following cities: Summit, Short Hill’s, Millburn, Union, Chatham, South Orange, New Providence, Westfield, Cranford, Maplewood, and Madison.
Contact us today to learn more about our flexible office space.