The Coworking Industry
Coworking is the Future of work in India as it is growing at lightning speed. Most of us know the reason behind it – because more and more employees turn towards freelancing, and many entrepreneurs are aiming to start businesses of their own!
Coworking, as a system, is already placed in some of the big cities in India. Places like Delhi, Mumbai, Chennai, and Kolkata already have many good coworking spaces where entrepreneurs can set up their new businesses.
Coworking is the future of work. We can access the info we need anywhere, anytime. Companies frequently understand that coworking spaces provide an effective solution to the demands of the new working environment — and the needs of the modern worker.
Coworking is the future of work. Companies frequently understand that coworking spaces provide an effective solution to the demands of the new working environment — and the needs of the modern worker.
The development of coworking spaces is a major trend growing the coworking spaces demand. Coworking spaces are implementing eco-friendly models in the workplace to attract entrepreneurs concerned with environmental issues such as global warming.
The global coworking spaces business shows a decline from $9.27 billion in 2019 to $8.24 billion in 2020; the decline is mainly due to economic slowdown across countries due to the COVID-19 outbreak and its measures.
Due to COVID-19, the number of people working from home or remotely limits the market’s growth. For example, in March 2020, various companies working from home due to the COVID-19 pandemic, as the operators of coworking spaces, have seen an almost 50% decline.
Nevertheless, the number of people working from home has tremendously increased due to the coronavirus outbreak over the last few months.
Coworking is a Cost-Effective Solution
Suppose you have decided to start a business, what would be the first thing one would need, apart from the very obvious things like employees, a name for the company, and a logo? An office? Yes! An office.
Starting a new business and working out of nearby coworking space, using them for meetings and discussions and work. A coworking space gives new companies the right platform and the opportunity to build themselves.
Without any doubt, renting a regular office is more expensive than investing in coworking.
Coworking is based on different premises. In most offices, you’re paying only for the current month, which leaves you a lot of room. As soon as you decide to use the space no longer, you don’t pay for another month.
Also, keep in mind that all the extra bills such as electricity, water, Internet, security, cleaning, etc. are up to you when renting a traditional office. You don’t have to worry about any of these at a coworking office.
And that’s not all. You don’t have to acquire the cost of furniture and hardware, yet other things you don’t have to bother with at a coworking space.
The Growing Popularity of Shared Office spaces
Coworking spaces have increased in popularity over the past few years, and it’s not difficult to see why. Not only do they provide a big collaborative space for any business, but they’re also friendly and very affordable. This is why so many people are using coworking office spaces.
They’re ideal for startups.
Startup businesses are usually attracted to coworking spaces as they can be massively useful for their growing business. Also, the startups are given enough opportunities for networking and socializing at coworking spaces.
They’re great for networking.
Renting coworking spaces benefit from frequent networking events, providing people with the opportunity to get to know the other people in their shared office space. One of the major reasons why shared office spaces have become so popular.
One of the main advantages of working in a shared office is that you can work according to your time. This flexibility brings many people to coworking spaces, especially for freelancers or those operating a business alongside their 9-5 job.
They provide an alternative to working from home.
One of the biggest problems that freelancers face is that they often feel lonely and unproductive when working from home. However, one of the choices is that they can work from coffee shops, which can prove expensive and unproductive.
Coworking spaces provide freelancers, a place where they can work according to themselves. They don’t need to worry about anything and work in a very productive way.
Shared office spaces are much more affordable in comparison to rent a traditional office for hire. They provide several different membership options for every kind of business – from small businesses that require a private office to freelancers who want to hot desk a few days a week.
Additionally, from high-speed wifi and meeting rooms for hire to all of the tea and coffee. Coworking spaces provide you with everything you need to make sure your business grows – all you need to worry about is turning up and getting your work done!
Many people can save money when working in a shared office, allowing them to focus on growing their business.
So if you’ve been thinking why shared offices have become so popular, because, with so many benefits to working at a coworking space, it’s no wonder people are choosing to rent a desk in a shared office.