'Co-working space' new trend for small businesses

'Co-working space' new trend for small businesses

TYLER, TX (KLTV) - More small businesses are turning to a new trend known as "co-working space."

It's an alternative to the traditional office space.

More than one business works out of the same building. It gives individuals access to a workspace without the cost and stress of renting an office.

Haley Bragg with Work Hub in Tyler says it has about 100 businesses working out of its two locations.

"They don't have to worry about paying all the individual bills like the light bill, the Wi-Fi bill," Bragg said. "And also having a fancy copier, printer, scanner. We take care of all the details so they can just come in here and focus on working."

Business owners should expect this trend to continue.

According to a study done by the commercial real estate firm JLL, this flexible workspace has been growing at an average annual rate of 23 percent since 2010.

The firm's study predicts co-working space will grow to 30 percent of all office stock by 2030.

Work Hub's membership fees range from $75 to $100 with access to both Tyler locations.

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