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Why Startups prefer to work in Co-working Spaces?

For a new entrepreneur who is looking to start his/her own venture, operating from home is always an option. But is it always practical in the long run? As much as there are advantages of working from home, there are certain discomforts. You are always distracted and the home environment makes you lazy. The conventional office space, while being a professional option, is also very expensive. Considering the real estate prices, it is obvious that it can’t be afforded by all. In this scenario where businesses need an equipped workspace within their means, co-working offices are there to help.

Also known as the “millennial workspaces”, these space providers are mushrooming quickly for they are in huge demand. Why? For individuals, small businesses and startups, flexible office spaces provide various benefits. India’s startup ecosystem has flourished in the past few years, thanks to the co-working spaces industry.

Why startups prefer to work in a co-working space

Reasons Startups prefer to work in Co-working Spaces

Shared offices are affordable: Working from home, café or garage can totally affect your market reputation and won’t give a professional image to the business. Also, you can’t give your residential address on all the paperwork and documents. Since these workplaces are “shared”, the cost of using the premise is also shared by all the members (each one paying their respective membership fee). With flexible plans and affordable pricing, co-working spaces become extremely attractive to the working segment. Renting a co-working office space in Noida, Delhi, Mumbai, Bangalore or any big city is easy. It’s affordable and very reasonable compared to renting a traditional office space that costs a fortune and can extract huge funds from the payer that could be used better in the business. From Wi-Fi to conference rooms, all the services are included in the same plan. 

Business flexibility: Also known as flexible offices, they offer you the convenience of scaling up when the need arises. A growing venture should go for an office space that allows them to upscale their team size with growing time. A company in Noida, for example, should search for an office that allows their entire team to be in the same place and hence it should go for shared office space in Noida instead of a traditional office. Not just the location would be prime but the managed space would solve all your expansion problems. You can also cut down the team if you require it at any given point. Also, unlike regular offices, you get the option to rent by the day, week, month or annual basis which means no hard and long agreements.

Interaction and networking: Businesses these days prefer a shared workspace that has other professionals and companies working. It gives the entrepreneurs a platform to interact and connect with like-minded people, pitch their ideas, take suggestions/feedback and collaborate. Freelancers usually get projects like graphic designing and content writing. The talent and the seeker often get connected in these plug & play offices. Business owners who wish to grow their network must opt for shared workspaces. Chats near the coffee machine, interactions during lunch time and bonding in occasional events prove to be great to build and grow a professional network.

Business marketing and talent acquisition: When you work from a shared office space, there are chances that the coworkers around you would know about your business and if it’s interesting, the word of mouth will travel faster. This is an organic way to market your business. You just work in a place and about a hundred people know what you do. Some might turn out to be your clients as well. When it comes to hiring people, you can also get lucky if you are around the freelancers that you are looking to have on board to a digital marketing startup to help you wish your social media handles. Candidates coming for interviews also get impressed by the vibe and décor of the place. When the office is good, people genuinely want to join the place and show up every day. 

All the services at the same place: Co-working spaces are known to provide all the services that a business might need for its daily operations. An equipped workplace not just makes working smooth but also helps in growing by boosting efficiency. The services like printer, scanner, photocopy machine, coffee machine, housekeeping, internet, sleeping pods and gaming rooms add to the overall convenience of working there. A co-working office space in Noida, Chennai, Pune, Surat, Hyderabad and every other city will do its best to provide its members with the basic to the best services. One is just not a hassle and works hard in a flexible office. A person can easily take some time to relax and refresh their mind in the same place too. 

Inspirational environment: When you work around brilliant people who are great at what they do, who keep celebrating their little achievements and work dedicatedly on their projects, you get motivated by their perseverance. One tends to lose their discipline and motivation by working from home for a long time. It’s easier to become laid back and lethargic being at the same place all by yourself. The important thing about working amongst self-driven and successful people is that they can’t be overlooked and their vibe will eventually affect your dedication and discipline as well.

No office politics: Since the shared work environment has people from different walks of life and varied industries, there is no sense of competition. Nobody is jealous of anyone for each one of them is minding their own business and focusing on their tasks. There is no interpersonal rivalry and nobody is there to pull you down. Instead, there is a culture of cooperation and collaboration amongst co workers where they share ideas and work opportunities and help others when they are stuck or need expert advice.

A professional space: No matter how casually dressed people would show up, a co-working office will always be a professional space. The aura of the place is such that nobody will disturb the other one, there is strict respect for privacy and everything is organized. A person walking in would first notice the diversity of people and then the professionalism that everyone will adhere to. There is a reason why even corporations want their employees to be working from a managed office space. There will also be a nice corner for video recordings, unlike at home where anyone can just walk in and the sounds get recorded.

Co-working spaces help startups bloom in a number of ways. The shared office industry is established on the idea of helping the fresh ideas and new businesses that usually get scrapped in the first stage due to shortage of funds, poor infrastructure, non-availability of office and other bigger reasons. Also, these spaces take care of the mental health of their people that otherwise suffer due to the home isolation and traditional office culture.

Looking for shared office space in Noida? Contact Lets Connect Coworking today and we shall help you with the best suiting plans for your business!