With reports that coworking is on the rise, it may seem natural to wonder what the future looks like. How true are these reports and what does it mean for you as an entrepreneur or business owner?

It’s not a trend.

Forbes has reported that freelancers now make up 35% of the workforce. With freelancers becoming more and more commonplace, and many of whom freelance full time, it’s becoming more clear that coworking isn’t a fad or phase. In other words, many freelancers choose their path because they enjoy the flexibility, freedom and work-life balance–core values that are not likely to change for an individual.

It may be the future of corporations.

While coworking seems to fit the solopreneur or small team, corporations are utilizing the resources to accommodate employees. Furthermore, with these spaces gaining popularity, they are in turn taking over prime real estate in desirable cities and neighborhoods. Even larger companies are forced to consider coworking spaces in their facilities planning or risk losing their appeal from ideal candidates.

Community or competition?

The number of coworking spaces is growing as the need increases. Does this mean that each facility will be competing to win over the local freelance and entrepreneur community? Not necessarily. The idea that more and more spaces are popping up seems to indicate that there is enough clientele to fill them all with regular residents.

Technology will be key.

Lastly, the future of coworking spaces will depend on the available technology that will meet the needs of their residents. At the operational level, technology will be important to creating shared spaces, which are relevant, scalable and appealing.

To learn more, check out Officentric’s private and shared office space in Southern California and in Arizona.