A workspace is where your data is stored. It's essentially the database. There are two types of workspaces: local and team workspaces.
You can have as many local workspaces as you want. All you need to to is to tell the app where you want them to be stored in your file system by creating them. However, only one user can access a local workspace at time. This is well suited to individuals. If you need multiple users to access the same workspace at the same time you need a TEAM plan subscription.
If you want to share a local workspace between computers, please refer to Sharing.
Team workspaces are meant to be used whenever multiple users need to access the same workspace at the same time. A team workspace works pretty much like Dropbox, except it keeps a database in sync instead of files. Every computer accessing the same workspace still keeps a local copy of the database but the cloud infrastructure allows them to be kept in sync. Additionally, team members accessing the same team workspace can see data being updated in real-time on the app.
Once a TEAM plan subscription is created, you'll have access to a Team Workspace in the app.
All workspaces are created empty, whether it's a local or team workspace. If you want to move data between them please refer to Import & Export.
When a Team Workspace is created and you want to start it off from a local workspace you were previously using, all you need to do is to export the local workspace and import it into the team workspace.