The study titled "Fostering Wellbeing and Satisfaction for Micro-Entrepreneurs: The Role of Coworking Spaces" by Marko Orel, Martin Lukes, and Jan Zouhar takes an analytic look at the impact of coworking spaces on the well-being and entrepreneurial satisfaction of micro-entrepreneurs. And what is even more impressive, is they made the report publicly available.
The research highlights how coworking spaces provide a supportive ecosystem that extends beyond traditional work environments — particularly benefiting women and those with young children.
SImilar to the Gensler report, these are findings that will surprise few in the coworking and flex space world. But the true gold in this report is the research to back up the claims. And because coworking folks are incredibly busy, we tried to capture the highlights of the report as well as how to use the information.
It’s well worth reading the full report, though.
The study used a mixed-methods approach, combining quantitative surveys and qualitative focus groups. Quantitative data were gathered through surveys from micro-entrepreneurs, both those working from coworking spaces and other settings. Qualitative insights were obtained from focus groups with frequent coworking space users.
Survey 1: 3,900 entrepreneurs, 24.3% response rate (947 responses) with final usable sample after filtering: 824 observations.
Survey 2: 108 observations of entrepreneurs primarily working from coworking spaces.
Demographics:
Nearest-neighbor matching estimator showed an average treatment effect on the treated (ATET) of 0.54 points for wellbeing and 0.11 points for entrepreneurial satisfaction.
Regression analysis indicated significant gender differences in perceived benefits, with women reporting higher positive effects.
Coworking space users reported a mean wellbeing score of 4.04 on a 6-point Likert scale, compared to 3.50 for non-users.
Micro-entrepreneurs using coworking spaces reported significant improvements in their wellbeing and work-life balance. These spaces offer structured work environments that help in creating clear boundaries between personal and professional life, reducing stress and enhancing productivity.
Coworking spaces provide valuable opportunities for networking and community building, which are crucial for micro-entrepreneurs often working in isolation. The sense of belonging to a supportive community mitigates feelings of isolation and boosts overall satisfaction.
The benefits of coworking spaces are particularly pronounced for women and micro-entrepreneurs with young children. Coworking spaces help manage work-family boundaries and provide a supportive network that is beneficial for those balancing professional and personal responsibilities.
- Gender differences: Women reported higher benefits from coworking space membership in terms of wellbeing, work satisfaction, inspiration, and work performance.
- Family dynamics: Entrepreneurs with young children valued coworking space membership more in terms of wellbeing, inspiration, and cooperation.
The study found that coworking space users benefit from both formal and informal support networks within these spaces. This support is vital for professional growth, as it provides access to resources, knowledge, and collaboration opportunities.
Coworking space users reported a mean satisfaction score of 5.10 on a 6-point Likert scale, compared to 4.92 for non-users.
For micro-entrepreneurs: The study suggests that micro-entrepreneurs, especially women and those with young children, should consider using coworking spaces as their primary work location to enhance their wellbeing and professional satisfaction.
For policymakers and coworking space providers: There is a need to design coworking space environments that cater to the diverse needs of micro-entrepreneurs. This includes providing family-friendly facilities, flexible workspaces, and fostering a strong sense of community.
Talking Point: "Our coworking spaces are designed to help you achieve a perfect work-life balance, allowing you to focus better and reduce stress."
Talking Point: "We understand the challenges of balancing work and family. Our coworking spaces offer the perfect solution with facilities that support working parents."
Talking Point: "Join a community of innovative and supportive professionals who are here to help you grow and succeed."
Talking Point: "Attend our regular networking events and workshops to connect with other professionals and enhance your business opportunities."
Talking Point: "Enhance your skills and grow your business with our professional development programs and support services."
Talking Point: "Our flexible workspaces are designed to adapt to your needs, providing both private and collaborative environments."
T Talking Point: "Experience a healthier way to work with our coworking spaces that prioritize your mental health and wellbeing."
Talking Point: "Hear from our members about how our coworking spaces have transformed their work-life balance and boosted their success."
By using these action items and incorporating the suggested talking points into your messaging, coworking space owners and managers can effectively communicate the unique benefits of their spaces, backing up the claims with data, attract more micro-entrepreneurs to your community, and enhance the overall satisfaction and well-being of your members.