Real Estate Investor Magazine South Africa March/April 2020 | Page 46
OFFICE
What to look for in
a co-working space
NICOLE CHAMBERLIN
T
he co-working trend is here to stay and many
entrepreneurs, as well as bigger corporations,
are looking at moving into these shared office
environments. But not all co-working spaces are the
same and there are a number of factors to consider when
choosing which one you would like to base yourself out
of. David Seinker, founder and CEO of South African co-
working space firm The Business Exchange (TBE), gives us
his list of what everyone should ask before they sign on at a
co-working space.
Is it a good location?
Business people want and need a location that is in the
economic hub of major cities. At TBE, for example, we have
offices in Sandton and Rosebank in SA, and just outside of Port
Louis in Mauritius. Being in a central business location means
that it’s easy for potential clients to reach you for a meeting,
and you can put a prime location as your address on your
business card and website.
Does it have a generator?
This is the South African reality. We are almost always asked
this question as many businesses aren’t able to go without
power for hours at a time. Without power, many small business
owners are rendered helpless, losing thousands of Rands with
each instance of load shedding.
Are there networking opportunities?
Co-working spaces are, ideally, meant to be about collaboration
and it’s supposed to be easier to connect with like-minded
business people. However, it can be difficult to meet anyone
else working from your space as business types tend to keep
their heads down and focused on the task at hand.
44
MARCH/APRIL 2020 SA Real Estate Investor Magazine
That’s why networking events are so important. It gives
entrepreneurs and business men and women the chance
to meet potential clients or find avenues for collaboration
with other businesses. At TBE, we host these events on a
regular basis to foster a culture that promotes networking
opportunities.
Does it offer business support?
The smaller businesses who move into a co-working space
could often benefit from a number of support systems. A
good co-working space would offer these small businesses the
chance to pitch for funding from people in their network or
host regular sessions that offer advice on marketing, business
growth and more. At TBE we call these sessions the Deep Dive
sessions and they have become increasingly popular among
our tenants.
Can you grow your business from it?
If the co-working space that you are enquiring at doesn’t have
an answer for this question, then it’s probably not the space for
you. A co-working space is meant to be an environment where
businesses thrive, not get lost in.
At TBE, for example, we ensure that we are a destination for
people who want a sophisticated setting with little distractions.
We don’t have an open bar or a pool table, but we offer our
tenants lots of space, great opportunities and an ecosystem
where they can focus on what is most important - growing
their business.
SOURCE The Business Exchange