The Brexit delay has kept a fog of uncertainty hanging over Ireland’s economy. But despite this, it seems that the nation’s start-up community is thriving now more than ever before. Based on research done by CRIF Vision-net, there are at least 55 new companies being formed on a daily basis. In fact, new company registrations have increased by 5,010 compared to this time last year.
The State of Coworking Spaces in Ireland
With the start-up industry in full swing, it comes as no surprise that there’s a surge in demand for coworking spaces in Ireland. Based on a report compiled by Cushman & Wakefield, Dublin city is ranked fourth when it comes to the coworking hotspots in Europe. The other three that come before it are Amsterdam, Stockholm, and Helsinki.
One of the aspects that have attributed to the rise of shared workspaces in Dublin is their versatility. These work settings have become an attractive option not only to individual freelancers but also to large corporations seeking to provide their employees with flexible work environments.
As seen in other major cities like New York, it is not enough to establish a coworking space. The best-shared workspaces are those that meet the different needs of their members. In fact, some shared workspaces are tailored for a specific industry, group or team of professionals.
What are the Driving Factors?
There are several reasons that explain the recent popularity of shared workspaces among the citizens of Ireland.
The majority of people utilizing these work settings cite increased flexibility as the top reason. The modern-day employee not only wants a flexible schedule but also wishes to work in an environment that reflects freedom and autonomy. Unlike traditional office spaces, coworking spaces provide a more open, dynamic and conducive environment for employees.
The incredible amenities provided in these shared workspaces are another reason why employees prefer to work from here. Consider The Tara Building, a coworking space located in the heart of Dublin. In addition to providing a serene and shared workspace, they also plan social activities, hold wellness classes and arrange for creative development workshops.
According to Mike Hannigan, another reason that explains the increase in coworking spaces is the desire to build a community. Mike is the founder of Coworking, which is a shared workspace based in Dublin Sandyford.
He explains that while remote workers have the freedom to work from home or a coffee shop, there’s one thing that these settings don’t provide- a sense of community. So even though individuals choose shared workspaces for their provision of work-related facilities, the reason why they ultimately decide to continue working from here is because of the company of like-minded individuals. Statistics on coworking show that on average, coworking members interact with 1 to 4 people daily in their shared spaces, increasing happiness as a result.
The Cost Factor
One other reason why coworking spaces are in high demand in Ireland is that they’re cost-effective. Based on a recent article published in TheJournal.ie, the standard rent has reached an all-time high of €1,391 per month. By comparison, the cost of a shared workspace in Dublin ranges between €200 and €350 per month. Of course, there are pricier options that are advertised as high-end.
However, highly-functional and well-designed co-working spaces like Dogpatch costs only €200 a month. The Tara Building also charges a measly €220 per month. Both of these institutions offer the same quality of services and amenities you’ll find in higher-priced alternatives.
Full Steam Ahead
Over the next couple of years, there’s no doubt that more shared workspaces will spring up throughout the country. Based on our research, solo workers and corporations alike have shown a keen interest in the coworking concept. And given that Ireland provides such a start-up friendly environment, it’s likely that the demand for coworking spaces will continue to rise.