Our country’s gen next entrepreneurs are rapidly embracing the notion of sharing space, ideas and vibes, and this has given way to an exciting concept of co-working spaces.
This revolution, almost a culture now, is most popular amongst start-up firms and encourages the forward thinking of enterprising businesspersons, looking at new ventures and unparalleled growth.
Demand for co-working spaces is highest in the cities like Mumbai, Delhi NCR and Bangalore. It is anticipated that by 2020, the approx. 200 premium co-working spaces across the country will double in number and overtake the traditional office format.
The report “Future of Work – The Coworking Revolution” co-authored study by Confederation of Indian Industry (CII), JLL India and WeWork, investigates the trends and market forces driving the co-working space across India and the world.
As per the report, the following factors could be turning co-working spaces into a breeding ground for the new generation of entrepreneurs:
1) NETWORKING OPPORTUNITIES
A co-working space keeps you constantly in touch with potential partners, clients and enables you to constantly be part of a highly motivating, goal-oriented environment.
Such an opportunity makes for lucrative prospects and also helps you easily collaborate with professionals who can help you bag specific projects, through their expertise, and grow the scope of your business.
Shared office spaces are flexible, and the space occupied in them can be easily scaled up depending on your growing team. There is no restriction in the number of seats in a co-working facility and thus the same can accommodate a whole team of just a sole proprietor, as per your business needs and financial affordability.
3) START-UP COSTS
Such an arrangement gives new entrepreneurs the opportunity to work in fully equipped offices, at a low start-up cost, without having to spend precious resources in rent, insurance, office equipment, maintenance, etc. The time and resources thus spared can be directed towards expanding the business.
Individual office spaces, at centrally located areas, can deplete your business funds massively. Co-working spaces on the other hand, make it possible for you to own your office space at the most prominent locations in the city, and be more accessible to clients, vendors and professionals.
5) WORK LIFE BALANCE
A working day can be rather stressful. While organising recreational and de-stressing activities in individual offices can be time an funds consuming, co-working spaces often propose activities for a healthy and prosperous work life by organising yoga, meditation, indoor sports, Art of Living workshops, investors sessions etc. Co-working spaces have certainly changed the landscape of young enterprises in India.