India’s modern, ever-evolving working class has seen big changes in recent times. The internet age has brought about an alternative and growing workforce, that is rich in entrepreneurs, professionals, and startup firms. Co-working spaces were initially born out of the need to provide such professionals, who are often forced to work in isolation, with a space that fosters interaction, as well as productivity.
While there is a multitude of reasons why co-working spaces are here to stay, we are highlighting the two major reasons.
1. Controlled expenses
Typically, co-working spaces are rented on an hourly basis. However, frequent and longer-term users can avail of monthly plans. The prerequisites of a good co-working space involve fast Wi-Fi and all the necessary office infrastructure like a pantry, printers, scanners, etc. Apart from this, a co-working space will have a range of working zones that suit individuals who work alone, as well as groups looking to collaborate or that need a conference room. These spaces provide start-ups and freelancers, who have access to limited funds, with an economical option to work in an office environment without having to spend on expensive real-estate or the administrative aspects that go into maintaining it. Thus, helping to sustain start-ups and small businesses, along with avoiding the distractions and isolation of working from home, are bound to ensure the increasing demand for co-working space.
2. Interaction and collaboration
Whether you are a professional, a founder of a start-up, or are looking for the next big entrepreneurial idea, interacting with other creative, like-minded people will enhance your thought process and challenge you to solve difficult problems regarding your work. It is in spaces like these, where healthy debates and informal exchanges of ideas can bring about long lasting professional relationships. For an individual who often works remotely or in seclusion, a co-working space provides the opportunity to meet prospective collaborators and widen your network of professional connections overall. It helps to keep things interesting and relevant, with access to fresh perspectives through every conversation.
Co-working hubs work hard at providing creative and stimulating working environments, where work and fun can happily coexist. They are a much-needed friend to the start-up revolution in the country. However, founding and running a renowned, well-equipped, spacious and thoughtfully planned co-working space is in itself showing promising business potential.