| Thanks to the Internet, cell phones, and executive | | | | Visit the coworking wiki at |
| suites, serviced offices and the virtual office, | | | | Business incubators |
| working space alternatives we could have never | | | | Space details: A business incubator is an |
| imagined even ten years ago are evolving at an | | | | organization designed to accelerate the growth |
| exponential rate. Four of the options are detailed | | | | and success of entrepreneurial companies.Fifteen |
| below. | | | | to twenty startup companies typically share these |
| Standard shared office space | | | | spaces, following a rigorous, competitive |
| Space details: Usually situated within another | | | | admissions process. |
| business's existing office, this type of shared | | | | Conveniences: One of the most attractive |
| space includes private offices, cubicles and/of | | | | features of an incubator is affordable rent, but |
| workstations. This setup is good for companies | | | | the amenities include an array of business support |
| and startups that have regular need of a | | | | resources and services that could include physical |
| conference room, multiple phone lines require | | | | space, capital, coaching, common services, and |
| privacy for their employees. | | | | networking connections. |
| Conveniences: Often these shared offices offer | | | | Rates: Rental rates vary based on location and |
| services at no additional cost, such as a shared | | | | program. Go to National Business Incubation |
| break room and/or kitchen, use of a shared | | | | Association for a detailed explanation of incubators |
| conference room, and a shared reception area. | | | | and to find one in your area. |
| Use of a documents, copying and mailing center | | | | Executive Suites |
| as well as shared receptionists are sometimes | | | | Space details: It's a fully furnished and equipped |
| included for a prorated share of the cost. | | | | office or office building, managed by a |
| Rates: Typically between $250-1,000 per month, | | | | facilities-management company. The company |
| and flexible lease terms are usually available for | | | | rents individual offices or even entire floors to |
| entrepreneurs, solopreneurs, and small business | | | | other companies. This shared office space |
| owners. The rent is frequently determined by | | | | typically has a traditional and professional |
| how much space a company needs. | | | | atmosphere, often in Class A office buildings in |
| Coworking Communities | | | | city centers, offering more impressive and |
| Out of all of the options we're investigating, | | | | well-known addresses than small start-ups can |
| coworking communities, while not new, are | | | | usually afford. If you need a high-profile address |
| certainly the newest. Coworking spaces are about | | | | to enhance your credibility, this is the option for |
| offering more pleasant places to work as well as | | | | you. It's also a great choice for companies who |
| community building. They are also based on the | | | | need branch offices in other cities or states. |
| shared values of the members, like collaboration, | | | | Conveniences: Features of executive suites often |
| community, sustainability, openness, and | | | | include shared services, such as reception, |
| accessibility. | | | | catering, meeting, conference and training rooms |
| Space details: These communities typically have a | | | | and courier services. It also may include access to |
| combination of common areas, community desk | | | | business equipment such as broadband, WIFI, |
| space, some private offices and shared use of a | | | | copiers, printers, telecommunications (phone |
| conference room. While this environment is great | | | | number, fax, answering services and lines). Kitchen |
| for creative types and extroverts, it's not ideal | | | | facilities are often part of the deal, as well as |
| for those with privacy needs or who spend a | | | | common areas and parking spaces. Sometimes |
| good part of the day on the phone and need | | | | extra services cost extra fees, but they still are |
| quiet. | | | | usually a fraction of what you'd pay for |
| Conveniences: May include broadband Internet, | | | | permanent full-time services. |
| networked printing, free coffee, IT support, use | | | | Rates: Rent is usually lower than typical office |
| of shared kitchen, fax/copy/scanning, white | | | | space since it is often shared. Renters save |
| boards, projectors, social events, and networking | | | | money on furnishings, office equipment and |
| events within the coworking space. | | | | salaries for support people, since a shared |
| Rates: These vary based on your usage of the | | | | receptionist may come with the space. Like most |
| space, usually on an hourly basis, including how | | | | options, rates vary based on location and how |
| much conference room time you need and how | | | | much time each month you'll use the space. |
| much desk or private office time you require. | | | | |