Coworking spaces have been practised since 1995 in Berlin, where people used to work together. In 1999, the term “coworking” was coined by Bernard DeKoven, who believed that people should all work together with equality. Since then, this has been a much-coveted concept, and productivity rates have also increased through this setup.
Coworking spaces can be very beneficial to the new start-ups and can help them in many ways. Many established brands have liked this concept, and even they are trying to take up this culture. The main points for the coworking spaces as put up by the real estate agencies are as follows:
Smart workplaces
• Inspirational quotes on the walls
• Bright recreational rooms
• Aesthetic cafes
• High tech meeting/ conference rooms
Let us check why it is such a saviour for start-ups.
1. It saves cost
Coworking spaces save a lot of money for start-ups. As a result, they do not have to fall prey to the vicious cycle of heavy room rent. These setups with everything, including power supply, cafeterias, housekeeping, would be pretty costly for a new start-up to maintain; however, in this way, they would get everything only by paying a fraction of the cost.
2. Networking
It has always been known that without proper networking. No business can prosper, and when on a start-up, we need to meet people who can help us. We can meet the correct people we need to collaborate with our work in a coworking space. Or we might come across other influential people who can help us get the right ideas for our work.
3. Proper attention to work
We can either decide to work from home or rent an office. If we work at home, we might work with comfort. However, there are other recurrent issues like baggage at the back or interference from other family members that can cause us a lot of discomforts. If we rent an office, it will be complicated to cope with the expenses. It is the office rent and the other amenities that can cost a fortune to the owner. However, if a coworking space is available, the expenses can be met with the technically updated amenities, which can be an excellent combination.
4. Community Feeling
When we work among a set of like-minded people, the thirst for performing better gets invoked in us. We strive and achieve the best performances amidst others who are also trying to get the best done for them. If we need help from other professionals, we don’t need to look out here and there as there will be individuals working there who can discuss with us and get the issue looked into instantly.
5. Prime Location and Scalability
Coworking spaces would let the start-up owners enjoy a fully furnished office in a prime location which could have cost the owner a fortune. But this setup makes it very affordable. Place in the prime area would mean that they would brag about it to their clients, who would find it easy to see them there. Also, they have the permission to increase or decrease the number of employees at concise notice with no problem.
315 work Avenue is a Bangalore based firm that allows new start-ups to work in this manner. Since there are many people on the verge of having a start-up but have very little capital to begin, this concept has been accepted by all.
Many people have initially benefitted from this, and very soon, this will be quite the common thing for start-ups as this will be very convenient and cost-effective.
