Small towns across America yield the highest growth segment in the coworking
There are over 14,000 coworking locations in the US. The progressing coworking industry is dispersing from large dense cities into smaller rural communities. Members joining in on the movement in these small towns are experiencing better efficiency. With the growing numbers of coworking spaces allowing members to participate in small towns, 22% of owners in small towns believe there is an opportunity for more, while only 7% think there are enough coworking spaces.
The demand for coworking spaces shows a 66% expansion rate this year alone. Many of the larger brands and big spaces owned by coworking companies consume the headlines, yet over 55% of spaces have less than 40 members. In small towns spaces which range from 2,000 to 5,000 square feet are perfect for cultivating the coworking industry.
Many small towns have existing structures which hold great potential for coworking. Spaces incorporated into old downtown buildings, retail locations, strip malls, lofts, or traditional office buildings are very adaptable for the coworking business and its members. It is reported that 58% of workers transitioning into coworking come from a home office. Providing these members with a hub which brings the community together and out of isolation brightens spirits and enhances their business.
Reported Member Benefits
- 75% feel more productive
- 96% have stronger social connections
- 80% leverage business network
- 77% of people express knowledge sharing as an important and critical benefit
Working within your community and getting out of your home office is proven to provide higher productivity. Small towns are no exception and owners are flooding the coworking industry to reap the benefits.