CubeSpace to Close

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CubeSpace, a coworking space and community based in Portland, Ore., that we’ve featured previously (see Dawn’s interview with co-owner Eva Schweber) has announced that it is to shut its doors this Friday, June 12, following negotiations with US Bank, its landlord.

It is a great shame to see an established and well-liked coworking community being forced to close. As Imran noted in his post “Can Coworking Spaces Be Profitable?“, coworking spaces often run on paper-thin margins, sometimes only just breaking even, or relying on being subsidized by a sponsor. Despite increasing demand for coworking space, the tough economic climate means that many of these communities will need to discover innovative ways to generate revenue in order to survive.

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That’s really a shame, coworking spaces are a great idea. How about this: if you work at a coworking space, when you sign up you provide information about your business and what you do. This is posted on a physical or online message board for the space, and related businesses can compare notes, etc. The coworking space can take a cut of any profitable mergers, business deals, or clients generated by working in close proximity to other would-be home businesses. They provide space, but also networking. Rent the space, monetize the networking.

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