COWORKING OFFICE SPACES: LESS COST, MORE EXPERTISE

As more people turn to self-employment and established companies begin diversifying businesses into smaller units and leaner teams, coworking office spaces have become essential to the business world. With the advancement of new means of undertaking business activities, the idea of business premises has also undergone a major overhaul. The rise of shared spaces for businesses is relatively new, but it has ensured work and scaling opportunities for many organizations, bootstrapped or otherwise.

As the Indian economy booms and more companies are founded, office space rents have hit an all-time high owing to the demand and supply force. As it is with every change in business environment, renting a swanky office space is the new layer of an organization’s snob value or factor that affects an organizations brand value. Rent values have often corroded a company’s balance sheet because of its fixed nature. While some expenses are disposable or deferrable, rent is usually constant, consistent and appreciating with time. In this situation, coworking office spaces have emerged as a steady new option to mitigate costs and ensure accessibility as well as ease of work.

Coworking office spaces typically favour professionals from creative fields who may be freelancers or full timers with limited resources. Non-creative fields can also benefit from them. These spaces are sparsely decorated, open spaces that facilitate ease of working for different professionals and companies with a small – medium employee strength who are willing to share resources, ideas, manpower and sometimes, work for everyone’s mutual benefit at shared costs. Shared elements can include office supplies, conference rooms, furniture, internet connection, electricity, phones, faxes, printers, etc. With rising costs of managing a business, coworking office spaces can help cap fixed and variable overhead expenses and ensure that businesses can maintain and increase productivity and profitability.

Often, work for freelancing professionals can become mundane with too much time required to be spent at home in front of the laptop. Mostly, working from home can be isolating and leads to fewer opportunities that can be found by networking in full time opportunities and can aid and challenge growth at work. Coworking spaces ensure that work becomes a social gathering for all employees coming from different backgrounds and networking opportunities are available for as long as possible. Coworking office spaces also ensure green practices as resources aren’t wasted but shared among everyone to ensure low costs. Energy needed is used, kitchens are shared and spaces are rented out on flexible schedules according to need; this ensures access to amenities for everyone without burdening our surroundings.

As there is more talent sharing a working space, these places also offer chances of exchange of knowledge, information and ideas as well as the occasional meaningful conversation. Coworking spaces are great not only for businesses looking to leverage the power of collaborating with like-minded professionals while reducing costs and increasing opportunities, they are also incredible spaces for individuals to grow and prosper in personal and professional spaces. Coworking spaces can instantly transform into party spaces too!