Shared office spaces or Collaborative working is soon catching a new wave in India’s official/commercial property market. Especially for the young entrepreneurs, or new age startups this concept of collaborative working spaces can be an excellent choice for business networking while simultaneously saving the costs that go into realty and technological backup.
Shared office spaces provide ample convenience to the young entrepreneurs who prefer flexible working environment. For employees too, co–working spaces provide various social, emotional and physiological needs. They greet a welcoming colorful interiors and vibrant settings that offer a fresh and energetic feel. Additionally, quality infrastructure like Conference rooms, Wi-Fi, whiteboard walls, lockers, printers, coffee machines, cafeteria, special event spaces, relaxing zones, etc. are add on amenities of the shared office spaces. In such properties, the entrepreneur gets to save on other operational costs too such as IT infrastructure, fitments, housekeeping and broadband connectivity.
Young Entrepreneurs also, need to do a cost analysis and optimize the seat occupancy strategy to make any co-working venture a success. While in today’s scenario, every person in business requires a lavish working space and a prominent Business Address, therefore these shared office space provides the best solutions to them, maintaining commercials for the business, yet providing the best address to work at a very nominal costing.
In a way, the shared office space reduces the entry barrier by the brining down the establishment cost and hence the overheads. Hence, for new business the seed capital can more effectively deployed to meet working capital requirement and business development initiatives. This is the reason it had initially seen the rise in Bangalore few years back and not catching fast in the Delhi NCR regions, including Gurugram and Greater Noida. It is a kind of win-win situation both for the developers and entrepreneurs. As the start-up business eco-system expands, we will see more organized player entering into this segment at large scale.