You can be on Entrepreneur’s cover!

Why Co-working is not Just for Small Businesses or Startups? How these corporate giants are taking benefits while being a part of coworking ecosystem?

By Nakul Mathur

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

A "Co working Space' or a "Shared Space' basically envisaged as a working environment populated by freelancers and professionals and entrepreneurs aspiring to get their ideas off the ground. However, these type of flexible office spaces are not just restricted for freelancers and start-ups, rather there are corporations that are actively taking up the concept. The phenomenon has now been enough approaching and is facilitating much bigger and prestigious companies.

The co-working concept is strengthening its roots in India as operators endeavour to wean large scale occupiers from conventional office space and give them a flavour of modern flexible office space with innovative heavy operational environment. In fact, as mentioned above a co-working space is so much pocket-friendly and its set up as much hassle free that not just the start-ups but the corporates have increasingly been taking up the concept and currently account for approximately half of the occupier base.

Companies with huge teams are now opting for shared spaces to access office with a fully fledged infrastructure, new entrepreneur's community, and minimum expenses. The changing perceptions of the office are now being viewed as an instrument that can drive a dynamic and vibrant culture of corporate productivity impacting the financial, cultural and environmental ethos of the organisation. The future of coworking can be more of a "melting pot' as early stage startups will work alongside corporate teams exploring the maximum level of business opportunities.

How these corporate giants are taking benefits while being a part of coworking ecosystem?

Incredible Infrastructure Without Investing Huge Capital– An office space provider takes care of all the essential amenities like Internet, infrastructure and other supporting features like conference rooms and cafeteria. Once these essentials are sorted, companies can focus on their core product or business.

The Flexibility of Choosing Workstations Since large, high-growth businesses are continually extending, they often require workplaces that can expand with them. As coworking spaces do not involve commitments like signing a lease, companies can simply rent out more workstation within the early-stage space when the need arises.

Sharing of Ideas and Knowledge Amongst Like-Minded Individuals – Ideation becomes an "easy to handle' task at a shared space. Through working at shared space, businesses are boomed with new ideas from other professionals at the common workspace. Teamwork that too amongst varied members, plays a significant role while working in such an environment. These talented individuals who are experts in their own field will bring a new perspective that could take companies further than ever thought.

Cost cutting for the companies – In some cases, opting for shared spaces is an opportunity for big companies to decrease expenses and increase profit. For businesses with teams that are distributed all through a country or region, it is a cost-savvy step to rent out a couple of seats in shared spaces than to lease an extra expensive high-rise building for a handful of employees. In addition, while booking shared spaces companies do not just save the traditional office cost but avoids maintenance fees as well.

Nakul Mathur

MD, Avanta

Entrepreneurs

The Untold Story of the Visionary Behind CLAT's Rise in India

When deciding on a career path, the majority of us consider becoming an engineer, a doctor, or a chartered accountant. But there's another choice that's just as good: becoming a lawyer.

Business News

Side Hustles Are Soaring as Entrepreneurs Start Businesses Working Part- or Full-Time Elsewhere, According to a New Report

The younger the entrepreneur, the more likely they were to start a business as a side hustle.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Money & Finance

How to Make Money Online: 10 Proven Ways to Make Money Online

Need to know how to make money online as a side gig or new career? Check out this breakdown of the 10 top online money-making methods.

News and Trends

Tata Passenger Electric Mobility And Shell Partner For EV charging Network

This agreement between TPEM and Shell India Markets Private Limited (SIMPL) aims to explore synergies between the two companies to encourage more people to adopt electric vehicles in the country.

News and Trends

Landscaping Startup Garden of Joy Secures INR 84 Lakhs Led by Inflection Point Ventures

The Bengaluru-based platform intends to use the money raised to develop a design tool, grow its operations in Bengaluru and five other cities, and vertically integrate through owning workshops for fabrication and civil work.