Office Sharing Companies - Boon or Bane ?

An increasing number of individuals and companies are opting for office sharing since it is an easier to manage and cheaper alternative to maintaining a full time business premise. The rentals are cheaper, the lease is flexible and the networking opportunities, manifold. Office sharing companies have sprung up in most major tier I and tier II cities and has not only raised an alternative source of income for people with a spare space to let our but also afforded growth opportunities to smaller businesses and freelancing individuals who have the talent but no space to present themselves as a legitimate, viable business.

Like every idea, office sharing companies come with their share of pros and cons. Here are some arguments in favour of and against getting a shared workspace:

Pros -

      1. Flexibility

Shared workspaces are flexible in nature. Flexible lease, flexible costs and flexible space options for periods when you need to scale your business upwards or downwards. Flexibility in all aspects is one of the most needed features to avoid losses and grow the business at a balanced speed.

2. Community

Office sharing companies function as the best spaces to mingle, network and learn from professionals belonging to the similar fields of work. They also function as spaces for having conversations beyond work and knowledge in the form of workshops and seminars.

3. Networking

Coworking spaces offer the greatest advantage in the form of networking opportunities. It is much easier to find like – minded people, from alliances and partnerships, find investors and opportunities and ensure organic growth.

4.  Low-cost, high quality infrastructure

Maintaining an office premise is expensive and a constant process. With the outsourcing of these troubles at a fraction of the cost of maintaining a premise, entrepreneurs and businesses are free to focus on business plans and progress. Shared workspaces offer world class infrastructure for a monthly fee.

Cons –

      1. Distractions

With the presence of like-minded peers, distractions are inevitable. It can reduce your working capacity if you are used to working alone or in solitude. Continuous distractions can seriously impair your ability to take rational decisions and make the most of your time.

2. Competitors

Office sharing companies will enable proximity to peers and colleagues who can support and push your work but eventually, they are all competitors for your business. Constant proximity with competitors can result in all your ideas and work getting limited traction because there won’t be an element of surprise in the market.

3. Fixed Working Hours

As a start-up owner, you will be required to work round the clock. Sometimes, inspiration might strike at odd hours or work might stretch into late hours of the night. Fixed timings limit your scope of work and cut off potential possibilities arising out of burning the midnight oil.

4.  Customization

Despite a plethora of services offered for reasonable costs by coworking spaces, they lack the ability to customize. Services offered are one-size-fits-all basis and it is impossible to fit in any special requirements your business might have.