While still small, your Illinois-based business has grown beyond your home office. That said, you still may not be ready to start looking for a local office space. Would a coworking space fit your current needs?

To help you make that decision, USA Today explains what a coworking space is. Explore your options and set your small business on the path to success.

A breakdown of coworking spaces

Much like condos are the middle ground between homeownership and apartment living, coworking spaces sit right between a home office and a traditional business office. If you like, you can rent a full office for yourself and any employees you have. Either that, or you can pay to use the space for yourself and gain access to a desk, communal space and any other amenities offered.

Advantages

Besides having access to amenities, coworking spaces offer several other benefits. For instance, you do not have to worry about buying office furniture or setting up utilities. If the size of your business is in flux and you would rather not sign a long-term lease, you do not have to worry about that if you operate out of a coworking space.

Disadvantages

You must consider the downsides of a coworking space. For one thing, you may not get along well with everyone else operating out of the same space. Additionally, the building owner may have rules you do not care much for, or the building hours may not mesh well with your work schedule. Be sure to thoroughly vet the space and the people working in it before signing anything.

This information is only intended to educate and should not be interpreted as legal advice.