Coworking is a quickly-emerging trend that is particularly popular with “new media” consultants and younger entrepreneurs. Coworking is much like a traditional shared office solution, except that the office space is typically more designed towards facilitating collaboration and providing networking and social opportunities, as well as just a professional space in which to work. In some cases coworking spaces are associated with business incubators that might be government –funded, and in other cases not.
Coworking provides a solution to the feeling of isolation that many independent contractors and work-from-home professionals might feel, by giving them professional office space and social/networking opportunities, without the cost of a traditional office space. The cost is typically less as most individuals who take advantage of coworking do so part-time – perhaps 2 or 3 days per week – and still maintain a home office or work elsewhere another 2 or 3 days per week, plus the costs of overhead and common areas (conference room, kitchen, bathroom) are shared and split by a larger number of occupants much like with a shared office space or executive office environment.