Even a few years ago, the concept of co-working space was unheard of in India. But in 2018, coworking communities provide the flexibility and innovation required to succeed in today’s time and age.
The global trend has spread everywhere and now the notion of flexible markets are on the rise. The way we work and the notion of perfect employee values are changing with time. Flexibility is really important for this generation of employees as well as entrepreneurs.
Alongside affordability, the atmosphere, facilities, location, and networking are some of the reasons why startups are opting for co-working spaces instead of shelling out money on fancy offices. The work environment nurtures ideation and collaboration and helps avoid hefty fixed costs.
What are the benefits of a coworking space?
Low Startup Cost
Renting commercial office spaces can turn out to be very expensive.From signing a long-term lease to hefty deposits, renting an office can cost a lot, particularly if so much of space isn’t required at the beginning of a venture. Although most co-working spaces charge a monthly rent some places also offer hourly or pay-as-you-go packages. That comes handy for the budding entrepreneurs.
Location
The space cost of prime locations is often very high and one often ends up sacrificing location for a lower monthly rent. By opting for a shared office space, it is easier to get an office in the central location and also stay well within the budget.
Location is a crucial factor for business, having an office in a prime area not only makes a good impression on the clients but also helps them in finding the office.
Flexibility and Networking
Coworking spaces create a flexible, convenient, and professional environment which nurtures creativity and generates a synergy between people working together. Also, it is easier to scale up the shared office space as the business grows. One can customize their contract to suit one person or a team until they move into a bigger commercial space.
Facilities
Most co-working spaces offer facilities such as vending machines, fridge, microwave, air conditioning, and small café or a snack counter. A startup needs to save costs wherever possible but they also need these necessities – which make shared working spaces an ideal solution.
Some shared spaces also offer added advantages such as security and visitor management systems like Veris. As a co-working space, it can be hard to keep track of employees and which organization they belong to and tracking one of those employees down can be a hassle. Making use of a security and visitor management software might be handy, especially if the costs are being shared.
These manifold benefits of a coworking space have made them very popular with new businesses.
Also Read: How to Make a Woman-Friendly Environment in your Workplace
