NewPath Network held its monthly networking meeting at Camaraderie, a new coworking facility in Toronto. Camaraderie is on Adelaide St East near Church Street. Located in an upstairs renovated office space, it is a fantastic way to get out of the house or the local coffee shop and work alongside others who are running their own small business. Here are some pictures of the location:
Rachel Young and Wayne Lee opened the location in February 2010 as a workplace that caters to anyone who needs a desk, Internet, a meeting room and other amenities like a kitchen and bathroom to keep you going throughout the day. Both have been involved in similar efforts in Toronto, but Rachel and Wayne are keen to make the business proposition of such a location work well. The spacious location allowed for almost 20 people to meet comfortably after hours in a theater-style seating layout. During the day the space can accommodate workers who need to spread out on a large desk or just take a corner to work quietly.
Rachel informed the many NewPath'ers about the various coworking movements around North America, including a highly successful one in Philadelphia called Independence Hall. It's her hope that Camaraderie can be the coworking location in Toronto.
One aspect of coworking that should appeal to any small business is the potential for a tax deduction. Both home office and coworking space deductions can be taken as both are necessary to run a business. We checked with several accountants and were told that even though you may be working in only one place at a time, both can be deducted as appropriate business expenses. You should check with your tax accountant for a final say, of course.
The price of the coworking arrangement is $300 per full-time month, about the price of any downtown Toronto shared office space. Part-time months (up to 10 days/month) are available at $175 per month. Single day drop ins (no more than 4 days/month) are available at $20 per day. Phone service or a receptionist is not available, but most independent free-lancers don't need this type of service anyways. Rachel and Wayne have graciously extended a free drop-in day at any point during the month of March. The drop in can also include 1 hour in the boardroom, subject to availability. Camaraderie is offering a $50 discount on the first full time month or $25 discount on any part-time month to any business that mentions the NewPath Network when they sign up.
