Small coworking providers taking advantage of WeWork woes

Despite its recent challenges, WeWork remains the most popular coworking space in the US, but smaller, local coworking spaces are catching up, according to a new survey from Clutch. According to the study, 39 percent of coworking employees work in a WeWork space, but local coworking spaces are almost as popular, at 36 percent.

Growth remains strong in the overall market, with the number of coworking spaces worldwide expected to reach 26,000 in 2022, up from 18,000 in 2019 and 8,000 in 2015.

The survey also claims that employees tend to treat their coworking space as a supplement to other places of work. It suggests that just 22 percent of people who work in a coworking space rely on it as their sole workspace. Coworking employees also work in traditional offices (65 percent), remote locations (54 percent), and on-site locations such as labs or factories (37 percent).

Workers and businesses are satisfied overall with coworking: Most stay in their coworking space for more than 1 year. Three-quarters of coworking employees (75 percent) have been at their current coworking space for at least 1 year, including 18 percent for 5 years or more.

Image: Study Hall, Burlington, Vermont