A co-working space is a place based on mutual ideals, voluntary style of work and is the perfect place for motivated professionals of individual work or small organizations, like businesses or startups, to work together in harmony. The concept of these office spaces are getting very popular in India, and here is why:
1. Space Efficiency: Co-working spaces allow for the maximum utilization of office spaces in this world where finding an acre of land for oneself is a Herculean task. Everyone wants to work in the posh, business district but whether an office space is available there or not is the question. Given this kind of a situation, finding spaces where various people can share working spaces provides a huge benefit.
2. Economical: Even if one does find an empty office space to work with, the expenses required to rent it becomes one of the major concerns of the organization. Smaller companies and startups often do not have that kind of funding to rent larger spaces. Individuals who wish to work in offices, too, would not want to splurge their money to rent with an amount that is too steep. Co-working spaces often take membership rates in exchange for utilizing their spaces which makes the whole process economical.
Increase in co-working spaces globally: Statista
3. Sociological: People from different organizations working together increases the scope of social interactions, increases business and social connections as well. It keeps the workspace more inspired.
4. Psychological: The reason why individuals are willing to pay for working outside their homes is purely psychological. Most people who work from home face the issue of getting distracted by household chores or getting too comfortable at home, and as a result, their productivity decreases. Their paying rent itself ensures their presence in the office for their expenses to be utilized, and as a result of this, they also get more work accomplished. Besides, these offices are great places for socialization. Working alone at home often gets tedious due to the inability to have any social interactions.
5. Professionalism: It is not just fancy to have an office address but it gives one’s clients the right impression of the sincerity of the organization or individual. A home address does not look as formal and does not reflect dedication, and is definitely not a good place for having business meetings!
6. Security: Having a co-working space means security services for all the organizations and individuals working there. It is usually included within the rent charged by the company who owns the space. This aspect of security has helped women to a greater extent to avail safe spaces for work. There are also female-only working spaces. 14% of Indian businesses are run by women and are self-financed. Keeping them in mind, Wsquare was launched in Chennai.
7. Eco-friendly: The whole concept of a place being eco-friendly depends on the interior designer’s capability to provide the same. With the dialogues around climate change and being an environmentalist being vital, most of the co-working places try to build an eco-friendly environment which helps you become a global citizen further.
8. Sustainable: Adding to the previous point, these working spaces aim at sustainability to ensure lesser damage to the environment. The durable and also recyclable materials used to give long term benefits, with lesser investments, on the part of the owners of the co-working space. Besides, the generic designs which make people feel more comfortable to work in are eye-catchers for wanting to rent these areas in the first place.
9. Energy Efficient: The air-conditioning systems are catering to a larger number of people, and so are the other electrical appliances that all those co-working are able to enjoy. If a lounge in the office has a television set, more people will be able to watch the news, the game or whatever is of common interest. Providing a renewable, non-carbon based energy to the office would count as contributing to helping in climate change.
10. Amenities: WiFi for all, security, cafes, lounges and other such facilities are what make the co-working places amazing to work in. These benefits which are common to all the individuals working there are reasons for them to invest in these one-stop solutions.