As outlined in a recent Wall Street Journal article, entitled, “My Space Is Our Space,” by Emily Maltby, even bigger companies are getting into the act of having communal spaces and services. Renting space in a coworking environment can not benefit the parties financially, but with the right mix of tenants, it can also serve as a way to build business through collaboration, referrals and networking. Industries hit hardest by the economy—advertising agencies, marketing and public relations firms, law firms, and even medical offices—have discovered that there’s a lot of small businesses out there looking for shared office space. With some industry experts claiming that the coworking movement has doubled each year over a 6 year span, it makes sense that as firms look for ways to reduce their overhead and increase business, sharing office space is an enticing alternative to more traditional methods.

For many, the question of whether to rent an office space on their own or find office space to rent in another firm’s business comes down to the nature of their business and their tolerance for dealing with the inevitable challenges of shared environments. Privacy, client confidentiality, personality traits, etc. can all factor into one’s ability to benefit from shared office space. But the bottom-line pretty much comes down to this: similar to any other type of relationship or arrangement, compromise and vision are pre-requisites to getting the most out of it. Few of us can completely control our environment, particularly when it comes to business. When you factor in the benefits of sharing space vs operating out of a home office or renting dedicated office space in a commercial office center, it’s clear to see why it’s trending upward each year.