Online marketplace for businesses and spaces, Sharedspace reveal in their new report that co-working spaces have grown 22 percent year on year, showing the way we work continues to evolve.

In their annual ‘NZ Coworking and Flexible Workspace Report’, Sharedspace’s findings show that co-working is growing to meet the new needs of employees across the board.

Interviewing over 75 percent of the co-working industry, the growth of co-working by 22 percent shows the country’s adaptability and resilience to the changing needs of modern professionals and businesses.

Over the past decade, New Zealand has been able to record 169,000 square meters of co-working spaces.

Some of these spaces that offer flexible and collaborative work environments include BizDojo, Generator and so much more.

Sharedspace’s report reveals that most businesses that make use of these spaces are small to medium businesses with an average size of five people.

With the state of the economy, Sharedspace says that these spaces are perfect for small to medium businesses looking for cost-effective and professional solutions.

Read more: What is the best co-working space in Auckland?

This has changed over the years, with co-working spaces previously being aligned with freelancers and now being seen as a solution from SMEs to international corporates.

“Amidst an economically challenging few years, this report showcases the resilience of the co-working industry and the evolving hybrid work demands that are allowing the industry to flourish,” says Matt Knight, Founder of Sharedspace.co.nz.

With an average price of $645 per desk, Knight adds that co-working spaces are accessible and budget-friendly alternatives to the traditional office setups.

The Sharedspace report also reveals that Tuesday is the busiest day for these spaces, which Knight says reflects heightened engagement and productivity.

Co-working spaces are utilised on average a three days per week.

Around 88 percent of co-working spaces are occupied, and this number is expected to rise as popularity and demand continues to drive, adds Knight.

“As co-working spaces continue to redefine the traditional notions of work, they play a pivotal role in fostering collaboration, innovation, and community among professionals.”