Start-ups have become one of the trends in the business field. Yet the enterprising entrepreneurs who start their journey have to face a lot of challenges and cut-throat competition to remain afloat in the professional world. There are several opportunities also which can be identified as advantages for their new set-up. Co-working space is one such factor which provides complete ease of operations for their new venture and sucks the stress out of their mind as far as an official address for the start-up goes.
What is a Co-Working Space?
It is a shared office space in which individuals or business entities can work independently. Even freelancers use such kind of space to operate so that they can independently work without any disturbance. Small enterprises also prefer to work in such places in lieu of payment which they make to the owner of the premises.
A new type of coworking for service providers like Fashion folks, make up artists, salon people is also picking up in India. Coworking Salon concept is still new in India but it will soon be in a booming too. We are very fast at aping western trends
5 reasons which have led to the immense popularity of the Co-working spaces are as follows:
- Several start-ups begin its journey from home. But as and when the business starts expansion, operating business from home becomes difficult and the start-up requires space to accommodate new employees.
- The most striking benefit of a Coworking setup is the assortment of various business co-working and cooperating among themselves. e.g Tech companies, Accounting firms, Legal Entities, Design Consultancies & Marketing firms at a coworking company can help you fast track your progress without having to look at different cities of the country. You see them face to face and interact with them daily. This improves understanding and faster turn around times.
- People generally do not take work from home entities seriously. Thus an official address is always preferable for the ventures, whether big, small, or start-up.
- Some co-working spaces are equipped with appliances like computers, fax machines, printers, etc. which are essential for the business. Space also has functional furniture which improves the efficiency of the workers. Thus it works out cheaper to work in such spaces.
- It is a flexible arrangement because space can be availed as per the requirement of the user; whether on a daily basis, weekly, or monthly one. Some people avail the space for business meetings only. Thus the normal expense of renting out space is ruled out and this turns out to be a cost-effective arrangement for the user.
- It provides a networking opportunity to the users because people and the executive from diverse strata and field work together, yet independently in such spaces.
Thus such address is growing at an alarming rate and is turning out to be a good business proposition for the owner of the premises too.
So need for such spaces at respectable addresses is growing at an alarming rate and is turning out to be a good business proposition if one plans to put up a Coworking space. Recently, there has been a boom of such co-working centers in India. Especially in cities like New Delhi where finding an upscale working space in south Delhi can take you back by a few hundred thousand rupees every month.