How Coworking Shared Office Spaces are Redefining Commercial Office Spaces

Players in the sector say that the number of clients per month ranges from 30 and above. Introducing the concept of virtual office spaces led to the increase of start-ups and smaller enterprises joining the league of smarter business investments. Coworking spaces are not just occupied by start-ups and early entrepreneurs anymore, even larger corporate bodies and multinational enterprises have now become a crucial part of the coworking ecosystem. With the release of COVID-19 protocols, it has brought a realization to more companies and enterprises on the need to be flexible and flexibility is one of the major give-aways that coworking spaces are able to offer to them. For a business, the space it functions in must be kept in sync with the resolution it aims to achieve. This resolution can be - building a greater client base or serving the clients at a glance. For this reason, a business has to be accessible easily. By marking presence in the most remote areas, business may just lose a client’s interest, because business is not accessible and neither are they ready to lease a property in the prime area. On the other hand, sharing a space in the prime area will serve as a win-win situation. Another reason why renting a shared workspace may work for the business is that it gets control over what type of office it wants to promote. For example - an advertising agency wouldn’t want itself to promote a corporate personality. Instead, it will be more interested in promoting a creative thought. In a coworking space, the agency can reshuffle their seatings anytime, in a way that they want.

It is believed that in future the coworking spaces will take over the usual renting and leasing property business. This is because people will need spaces where there is comfort and flexibility in terms of cost, amenities offered, and opportunities that are provided through networking. Shared Office Spaces cater for people who are looking for a collaborative working environment for any given tenure ranging from short stay to long stay. Setting up an office space is quite expensive, which involves hiring everyone, making desks available for everyone, transportation, etc. To help businesses deal with this problem, most coworking spaces have amenities such as inbuilt desks for each individual employee covered with internet connection and good working software. Other amenities that coworking spaces provide are kitchens and cafes, meeting rooms, conference rooms, wireless and wired internet access, shared printing machines, phone or skype booths.

We all know what a coworking space is. It is a working space that can be rented for a day, week, and month or as per customized requirement. Coworking was the new kid on the block, when it was first realized as a business concept in the early 2010s. Soon, the concept became familiar with businesses around the world and then was finally caught as a solution for businesses to escape commitment agreements with leasing terms. In India, the trend is taking shape where a good number of companies are offering businesses and larger enterprises with spaces on rent with customized packages. The trend seems to have been popular amongst small and medium sized enterprises who would otherwise not have afford getting an office space on rent, equipment and other amenities at such a low-cost. At present, India has more than 350 companies present who offer shared coworking for commercial office spaces, and many are now getting started with this business module.

Unlike traditional office rentals, the cost of renting a shared office space usually covers the use of related services and equipment such as office chairs and desks, internet or wifi connection, hardware, software and other things. Businesses are generally moving into this trend mainly because these concepts offer flexibility. First of all, businesses are not restricted by time. They can drop in at any time and work. For investors, this business concept also offers a bit higher returns as compared to usual investing returns on leasing a property. MyBranch is one of the companies in India that offer the services of coworking spaces. The main aim of MyBranch is to take away the overall hassle of the businesses in setting up an office, so they can really focus on what they really intend to do.