In the race of filling wealth pots, co-working space industry is booming immensely. The small as well as big organizations are coming to demand for more space and this is giving lead to co-working rentals space. The model of shared workspace expands one’s abilities irrespective of the fact the organization is based in exposed or unexposed city.
Locally, Regus, Avanta, Apeejay and DBS among others are the key contributors who are catering the needs of topnotch companies year-by-year. Referring to the past two-three year’s stats, it is visible that the industry has seen up to a 20% increase in the demand of flexible workspace by companies.
Inexpensive Co-working Facilities
It is a boon for the start-ups that are looking for shared spaces in the core of the market and are ready to move. The business centers don’t just provide the basic facilities of networking, conference rooms, mail rooms and kitchen area,but also offers many kinds of memberships and other benefits. This sharing of workspace is a great way to save money. As Sande Golgart – Western Regional Vice President, Regus says,
“It’s a blend of technology and people getting smarter about getting efficient use out of their space. Nowadays people don’t necessarily need a land line all the time that’s plugged into a wall that they have to go to and sit in front of every single day.”
For the companies that work with Globally Distributed Delivery Model, it is of utmost necessity to provide a mobile workspace for its employees in different cities or countries. Even for an on-the-go entrepreneur, it would be a bad idea to invest in a full time office.
Vast Scope of Networking
The social aspect of co-working cannot be overlooked, as people prefer an environment where they are associated with similar or different genre of people. The continuous learning helps employees in being productive and motivated. For an example: in 2012, Regus generated about $610 million revenue from its U.S. business. Post this, Regus established work spaces at 40 new locations in the U.S. and recorded the unmatchable growth in 2013.
Prestigious Address in a Prominent Business Area
Companies can pick and choose the flexible workspace on rent as per the requirement. There are options like a portion of a floor,complete floor, multiple floors and complete building on an hourly, monthly or yearly basis at a pre-fixed fee. They are suitable for companies which are not willing to invest money on a property or on committing to a long-term rental package.
Shared spaces work for such companies, as they get ready-to-use offices with a prestigious address in a prominent business area. You will also get packages that includes a Business World card and office space in many locations.
The access to serviced office space model also allows companies to pay only for those facilities, which they want to avail and not all. Therefore, serviced office spaces, which are shared by many companies are much in demand as it allows start up and established players to explore the scope of expansion into new territories. As per global research findings, this shift towards flexible working is attracting skilled staff in companies and giving a better work-life experience.