“Why coworking spaces offer growth-oriented environment to entrepreneurs in India” by Dhruv Agarwal, Co-Founder Easydesq
Working in the office the way we have known for decades has changed dramatically in recent years. Office work that was earlier constricted to specific buildings or campus, has moved to a hybrid model, remote or coworking space. While hybrid and remote working have gained much popularity post-pandemic, coworking space has existed for around a decade.
Coworking spaces have become an increasingly popular option for
entrepreneurs and start-ups in the past few years. These shared office spaces offer a supportive and growth-oriented environment for the budding businessperson or firms to thrive.
As the name suggests, coworking spaces are shared office spaces that are used by diverse groups of professionals, including freelancers, consultants, remote workers, small business owners, and so on. Therefore, the environment that a coworking space offers is extremely beneficial for upcoming firms as it exposes these organisations or entrepreneurs to opportunities in which they can interact with like-minded people and receive invaluable points of view.
Operating in isolation is not beneficial for emerging firms. Hence, coworking spaces allow these businesses not only to share ideas but also allow them to collaborate and offer support to one another. A coworking environment builds a sense of community in the businessperson and helps them feel less alone in their journey. Additionally, many spaces offer networking events and workshops to help professionals develop new skills and connect with potential clients or partners. This can be especially beneficial for small businesses and start-ups, who may not have the resources to invest in their own professional development
In addition to the social aspect, coworking spaces offer a variety of amenities to support the growth of the business. In the post-pandemic times, a majority of businesses are conducted remotely. However, businesses still need areas, such as conference rooms, meeting areas, and other common spaces. This is where the coworking spaces come into play, as they provide not only special areas to hold meetings or conference calls, but also provide high-speed internet connections, and printing facilities—things that are crucial for the success of a business. The availability of such basic amenities allows entrepreneurs to focus on achieving their goals, rather than worrying about logistical issues of their business.
Another advantage of coworking spaces is the flexibility they offer. Many coworking spaces offer month-to-month leases, allowing businesses to scale up or down as needed. This flexibility is particularly important for start-ups and emerging businessmen, who may not have the financial stability or certainty of a larger, established business.
Another advantage of coworking spaces is the flexibility they offer. Many spaces offer month-to-month leasing agreements, which allow businesses to easily scale up or down as needed. The cost-effectiveness that comes as a backdrop of flexibility is especially important for entrepreneurs and start-ups, which may not have the financial stability or predictability of larger companies.
Other than the practical benefits, coworking spaces also offer a number of intangible benefits. For instance, these spaces provide a professional environment for entrepreneurs to work in. This is essential for those who operate from home, as after a period of time, it gets difficult to separate work life from personal life. Furthermore, working in a sharing environment pushes an individual to socialize, which later results in improved productivity and creativity. The environment that coworking spaces offer can stimulate new ideas and encourage collaboration—a valuable process for all startups.
In conclusion, coworking spaces have a promising future in an era when remote working and moonlighting are becoming increasingly popular among working professionals. These spaces not only provide a growth-oriented environment for all startups and entrepreneurs but also create a space for these budding businesspersons to network, collaborate and coordinate. It is something that is not available in a solo workplace setup. The presence of ideas, creativity, and energy to do something big in the environment of coworking spaces pushes startups and entrepreneurs to explore new spaces and innovate accordingly. Overall, the feeling of belonging provided by the coworking spaces not only keeps the emerging companies and businesspersons updated about the industry, but it also provides a safer environment for them to challenge themselves.
(The author is Mr. Mr. Dhruv Agarwal, Co-Founder, Easydesq, and the views expressed in this article are his own)