For startups and smaller businesses, office space can take a big chunk out of your budget. However, it's important to create a sense of community among your employees. If you're looking for an affordable option, coworking and shared workspaces provide several benefits of a traditional office space. While many people think these choices are the same, they have differences that can make one preferable over the other, depending on your business’s needs. Here are a few key points to ensure you choose the right option.

3 Differences Between Coworking and Shared Workspaces

1. Lease Terms

Coworking spaces are ideal for freelancers, startups, and entrepreneurs who may not have consistent work schedules. These spaces often have flexible, short-term leasing. While convenient for those with varying schedules, it can also mean that finding a desk isn’t always an option.

Shared workspaces typically cater to more established businesses with a set team and standard office hours. You can expect longer lease terms—anywhere from month-to-month to a yearly contract.  

2. Privacy

Fostering a community is integral to coworking spaces, which is why they are usually designed as a large open floor plan. Your team can easily collaborate while getting to know other members who are renting a desk there. This can be advantageous if you're trying to network. 

While an open floor plan is good for some, it doesn’t come with much privacy. This can be distracting for larger teams that need to work together. Also, if your company is more established and isn't focused on networking with other entrepreneurs, it makes more sense to choose a shared workspace. You'll have private conference rooms and areas for just your team. 

3. Amenities

Coworking usually offers basic office amenities to renters, such as printers, Wi-Fi, and shared kitchen areas. While ideal for someone just starting out, these amenities don’t cater to the needs of larger businesses. 

Shared workspaces are stocked with a wider range of equipment, such as projectors, photocopiers, scanners, and enterprise-level internet speeds on private networks. You can also enjoy administrative support if you have clients coming to the office. 

If you’re searching for a shared workspace in St. Louis, MO, explore the options at Creve Coeur Workspace. Since 1983, this company has ensured businesses have the office rentals and collaboration spaces they need. Office amenities include virtual office spaces, a receptionist, and your own phone number. Learn more about these on their website, and call (314) 569-9800 to discuss available spaces.