Shared office systems provide the perfect blend of community and flexibility for startups and small businesses to thrive. With the availability of hi-tech amenities, coworking spaces are the go-to destination for start-ups, small businesses and entrepreneurs to collaborate and innovate. Such spaces also play a crucial role in the development and success of these businesses by providing a supportive environment to accommodate changing needs. This could result in plenty of new ventures as these businesses, working from a coworking space get to interact with people coming from a variety of backgrounds. Indian start-ups have shown a significant increase in leasing flexible office spaces in the last few years, second only to the technology sector. The small business sector is critical to achieving a $5 trillion economy for India as it employs over 100 million people and accounts for 40 percent of manufacturing output. In this context, it would be appropriate to look at multiple factors that explain why coworking spaces are the best bet for start-ups and small businesses.
- Cost-effectiveness and flexibility
- Enhanced professionalism and credibility
- Freedom to scale-up and scale-down at ease
- Networking opportunities are plentiful
- Scaling the brand status in a racy ecosystem
- Getting the best out of work and life
There are numerous benefits associated with shared spaces, which are drawing the attention of big and small enterprises alike along with startups. By exposing employees to multiple perspectives, coworking environments inspire refreshing creativity and perspectives. All these advantages have lent great value to the coworking industry over traditional offices which indicates a brighter future for this new age asset class. Therefore, it goes without saying that the coworking culture will drive the future of workspaces.
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