What Makes a Coworking Space Ideal for Entrepreneurs

How many new startups do you think India should add in 2017?

You will be surprised to know that over 1000 startups were added in India last year, according to the Nasscom Startup Report. Yes, that’s 1000 new companies or entrepreneurs. India today has the third largest startup ecosystem in the world, despite growing competition from countries such as the UK and Israel.

With the new additions, the total number of tech startups has reached nearly 5,200, making tech startups or tech startups the most popular new companies. The country has also seen explosive business growth as these startups focus on verticals such as medical technology, fintech, e-commerce, and aggregators.

This leads to the next interesting question about how, with limited finances, these new businesses can manage office space. With colossal real estate prices, buying an office space means leveraging funds that could otherwise be used to develop infrastructure, technology, operations, last mile delivery, etc. And if you thought another rental option was better, then a good one location would mean higher rents and, in turn, blocking not only a certain amount each month, but also a three to six month upfront security deposit that exceeds the rent. Thus, huge funds are blocked, which could otherwise be used wisely and for more important matters.

So to keep that capital unlocked, we have an option for startups, professionals, small businesses, or any other business, and that’s coworking. Welcome to the era of coworking or, more simply, shared workspaces. These office spaces cater to the pressing needs of their clients by offering space options with pay per day before a limited time period, making them affordable. Not only that, for meetings or a daily permanent location, some even offer conference rooms and fixed locations for your workforce. These options provide flexibility and help save money when you decide what you need and how much.

Want to know more? We are confident that you will do it!

Unlike rented space, which is not furnished, coworking space is not bound by a contract and does not require upfront investment. Therefore, they are supplied furnished, which makes them ready to move in and use. They also offer an abundance of services and benefits such as private cabins, high-speed Internet, a cafeteria, lockers and more, giving companies the atmosphere of a regular office rather than a rented office space.

That’s not all, these are just the basics, let’s look at other benefits.

Choosing your location is one of the biggest benefits of a coworking space. Because these locations are located in more than one location, they give companies the flexibility to get their employees to work from wherever they want. In addition, collaboration spaces can be located in an upscale neighborhood, giving sole proprietors or small businesses access to funds and work in a prime location. Whereas if you are thinking of owning or renting an office space, it is a fact that the rent primarily depends on the location, and the premises only later.

One of the biggest benefits of a coworking space is the extra space as you grow. Coworking space gives companies the ability to keep adding jobs as their workforce grows, rather than based on growth projections as is the case with rented office space. In addition, in the case of meetings with clients or investors, the coworking space seems to be larger, with professional management and basic amenities. Whereas, the latter is limited to the office space that the company has paid for and the services and amenities that it is willing to spend at that time.

Beyond startups, these spaces are a boon for independent employees such as designers, developers, and writers as they work alongside a few like-minded people, entrepreneurs, and innovators. Business culture and networking helps people from different backgrounds collaborate on a single platform, sharing knowledge and market best practices, making them a supportive work environment.

So, thinking about buying or renting an office? Think again. If you have a comfortable workspace that offers a quiet, professional and hassle-free environment when you want it, why block funds. We say: try coworking now and let us know what you think of them on our blog, Facebook or Twitter.
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