In the last 10 years, the number of coworking spaces has grown not by hundreds, nor by thousands, but by hundreds of thousands. The last estimate of the number of individuals coworking in the UK was nearing 300,000, and this was over two years ago. Why have flexible shared spaces been so popular, and what will happen to the working world in the future?

Economia Business considered why sharing workspace has become so popular. They met with a number of coworking agencies in London. The answer? People are changing the way they work. The millennial generation don’t want to be tied down to a 9-5 office job. They want to work when and where they want, often on a meaningful project. Coworking accommodates all of these needs. Most environments provide flexible terms, and many are open 24 hours.

This is certainly something we’ve noticed in our spaces. Lee of Layered Technologies told us that the best thing about working flexibly is that he can engage with his hobbies, namely fitness. Lee enjoys visiting the gym outside of peak times. Having a work/life balance leads to both greater productivity and life satisfaction. When you’re satisfied, not only are you less likely to quit your job, but you’ll do a better job of it. It’s simple.

Economia Business noted that, beyond the purpose of making a profitable business, there are four core values that coworkers uphold. These are community, learning, collaboration and sustainability. When like-minded creative individuals are bought together, they generate ideas, work collaboratively and support one another.

Many businesses and individuals working in our spaces value environmental stability. Emma of Mute Collective ensures her garments are sustainably made. Lauren of Maybe Mabel enjoys upcycling materials into new products. Thinking of the environment is a common theme.

Finally, because small businesses boost local economies, councils are keen to support the creation of coworking hubs.

So, what does the future of coworking look like? Economia predicts strong growth until at least 2020. This doesn’t surprise us. In sum, this means we can look forward to further support of local economies and increasing quantities of ethically minded businesses.