More and more people in India are discovering the joys of freelancing or commencing their own start-ups. A brilliant alternative for creative thinkers and independent workers has been coworking spaces in Mumbai, Delhi, Bangalore, etc. They have proven to be economical and sustainable and have helped budding entrepreneurs build network, collaborate with like-minded people, be a part of several events, enjoy its flexibility, and its cosy vibes. On the other hand, there are several coworking spaces in tier two cities in India still in the process of certifying their business model and finding inventive ways to retain their existing audience. So, what is the future of coworking spaces in India?
Given the nature of shared office spaces, it is no brainer that networking is bound to be. One works and shares space with mixed professionals making it a popular choice. These can range from start-up founders, entrepreneurs, freelancers, established companies to even students. Networking eventually leads to creating a coworking community with diverse likes and interests.
Culture and Personalisation
Shared office spaces in India and worldwide offer flexibility, affordability, location and networking that a conventional office may perhaps fail in. It is not the brand at work, but the people who are working. When professionals from various sectors and niche come together, they help in facilitating a culture by adding their own separate character to this one space.
The millennial understands the significance of a work life balance. They prefer flexibility to a 9 to 5 job. They would rather work at a place that is closer to their residence than taking up longer commute hours. As per the study by Deloitte, 64% Indians will be millennial by 2020. This certainly emphasises on the importance of coworking spaces in India and their expected exponential growth given their several benefits.
Higher Growth in Start-ups
If you simply look around, you’d realise there are plenty of start-up agencies that are offering great prospects. One of the major reasons could be because now people can rent an office or take up shared space instead of taking up operational and overhead costs. They offer a full-fledged office environment along with basic amenities and more based on the needs and requirements. As a result, expansion is no more a distant option, but feasible too.
Improved and Enhanced Quality of Working
The design, comfort, and overall look and feel of coworking spaces is better than a traditional work environment. Well-established companies like Google, Facebook, YouTube, etc. too have recognized them, thereby making contemporary interiors, chic furniture, and desks a part of standard working spaces. They also include recreational rooms and occasional events to help professionals interact and network. The idea is to help people relax to give a boost to their productivity and efficiency.
India is certainly riding high on the shared office space and there is no stopping for sure. They have disrupted the traditional work environment and have seen great growth in the last five years. The demand continues to gain impetus across India with immense scope, growth, and development.