Small businesses, startups, and entrepreneurs do not generally have huge budgets to lease out working space. The next best alternative is to look for a coworking space.
The trend of coworking spaces was popular amongst small businesses, startups, and entrepreneurs even before we were hit by the pandemic. However, with the onset of the pandemic, even large businesses began to function on shoestring budgets, thus looking for cheaper but state-of-the-art infrastructure.
Coworking spaces are an ideal solution not only as they prove to be cost-effective but facilitate various intangible needs of employees like inspiration to new ideas, stimulation of thoughts, change in working space environment and help individuals’ network with other like-minded individuals. Further, with remote working becoming an integral part of our life for the foreseeable future, ensuring employees have a safe place that is sanitised regularly and takes the necessary COVID-19 persuasions is the need of the hour.
Additionally, a coworking space is linked to the equity theory. In a traditional office setup, bosses can track the work of colleagues—how they are performing, when they are arriving each day—which serves as a reference point for tracking performance. In a coworking space, it lets employees have a relaxed work environment and helps individuals push themselves to achieve that extra mile.
While individuals may be exhausted from working from their homes, it does not mean they are geared up to return to a conventional workspace. Coworking spaces are flexible in terms of seating as well as operational hours they have.
Most coworking spaces also have various branches, thus making commute simpler for individuals as they could choose a location most convenient to them to work from. Many employees have also returned to their hometowns due to COVID-19. With coworking spaces gaining popularity in India, it enables employees to plug in at any time, in any location, thus being a major plus for organisations that have leased out coworking spaces.
There are yet several businesses that require employees to be physically present at work. Thus, when looking at leasing a traditional working space, it can have several hindrances. One major drawback is the limited funds that organisations now have. Traditional micro-offices have also begun to make limited coworking space a possibility now.
One major area of concern right now is health. And coworking spaces, just like other places of work, take utmost precautionary measures ensuring individuals can work hassle-free. Owners of companies who lease coworking spaces can be stress-free in terms of the overall maintenance of the space and being rest assured that their employees enjoy state-of-the-art facilities.
Thus, whether you are an entrepreneur looking for investors, a designer looking for collaborations, or an established organisation looking to expand its team, coworking spaces are the best option to grow your venture or find new opportunities. Further, the vibrancy of coworking spaces helps increase productivity and help break the monotony of work.