With all the different names from incubators to service offices, co working spaces and accelerators, it is really important to know the differences between each of the type of shared office spaces, as it will help you reach an informed decisions. Below are some of the different types of shared office spaces.
Shared Office/Executive Suites
These are just office spaces and might not offer you the added value of being in a network community, as no one will be engaged actively in making a community in shared offices spaces. Executive suite might offer businesses a full time live receptionist service, even though some of the much-progressed one might offer you reception automation service. This is a great option for small businesses looking to make a good and lasting professional impression on the clients.
These are office spaces that offer collaborative opportunities to the co-workers in the office space. In co-working spaces, there will be consistent efforts to improve the interactions and connections between the people in the space. This will help bring extra value, which is not provided by the traditional office spaces.
Hacker & Maker Spaces
These are spaces where people with common interests group to share knowledge and build things. These spaces are great to build projects and learn new things, but might not be a good option to work professionally. Usually, people find these places good to get access to machines for prototypes and projects.
These are companies that offer office spaces or management training to startup companies. However, incubators do not serve all the type of businesses. Even though most of the incubators offer shared administrative services and office space, the heart of incubation is the mentoring and the services that they offer to start-ups.
Accelerators usually work on fixed terms for 2 to 6 months. They take applications from various start-up businesses and provide educational and mentoring benefits. Most of the accelerators provide office space for start-ups, however, the start-up may have to make an initial seed investment into the accelerator for equity.
Bars and Cafes
Bars and cafes are not workspaces, but many use them as one. These places are not designed for formal work and you will face many inconveniences in these places like heavy noise, distractions, and the need to keep paying for coffee to keep on using the seat. Still, some freelancers love to work in such situations.