How does coworking space meet the workplace needs of small businesses?
The global market value of flexible workspaces is estimated at approximately $26 billion. In March this year, a survey by Gartner, Inc. showed that 59% of the respondents expect shared office seating for at least a quarter of their employees who would return to work, post pandemic. Let’s delve into the buzz about shared office space amongst small businesses and startups.
In general, there has been a growing interest among IT/ITES based startups in coworking or shared workplaces, with these startups emphasizing verticals such as e-commerce, health, and more.
How coworking spaces make better financial sense for startups
Startups are often faced with the challenge of managing limited finances in the best possible way. With sky-rocketing real estate prices, purchasing an office space implies diversion of funds that could have been better utilized for developing technology, infrastructure, last-mile delivery, operations, and more. Renting office space would mean paying higher rents for prime locations and blocking a specific amount every month along with paying a huge upfront security deposit of three to six months. This would be an added burden on the business owners. Your funds blocked for paying rent could be used prudently, on more important things.
Therefore, if you are looking forward to lowering the cost of rent, consider looking for a viable option for startups, small businesses, professionals, and other businesses – coworking or shared workspaces.
In Mumbai, for instance, coworking space in Mumbai addresses the need for a cost-effective office space by offering affordable alternatives to the conventional pay-per-day or limited duration office space. And that’s not all, you can upgrade or downgrade your office according to your changing requirements. Hence, coworking office spaces provide you the required flexibility along with assisting you in saving an adequate amount.
Added benefits of using a managed, coworking office space
Centers in multiple locations – Coworking office spaces offer the flexibility of having your business address in multiple locations where the workspace provider has its centers. The providers could have multiple centers in the same city or different cities across the world. This also has the added advantage of allowing employees the option of working from any place comfortably.
Customized workspaces – Yet another benefit of using the option of a plug and play office is tailor-made spaces. This provides you the convenience to modify your workplace according to your employee strength, as and when you increase or decrease your workforce. Even for investor or customer meetings, coworking spaces provide the added advantage of professional management of bespoke services along with basic amenities.
Networking and mentorship – Apart from the small businesses or startups, a business center would be a boon for independent workers or freelancers as well. They would be able to work alongside numerous like-minded professionals, innovators, and entrepreneurs. The networking events and work culture assist people of different backgrounds in coming together on a single platform allowing sharing of knowledge along with suitable marketing practices.
Fully-equipped centers – Unlike an unfurnished rented space, fully-equipped serviced and managed workspaces would be non-contractual. Such ready to move-in and use offices would not entail any upfront investment. They would also cater to you with an array of services such as high-speed internet, private cabins, cafeteria, and more. What’s more, you would have an environment of a regular office and not that of a rented space.
To sum it up
If you were thinking of an office on rent, consider the thought again. You have the convenience of a quiet, hassle-free, and professional office space as and when you need it, from a renowned company such as iKeva. iKeva would cater to your specific requirements of co-working space, and that too at an affordable price.