Introduction to coworking space
Coworking space is one of the trending topics of discussion for most working organizations, companies, and individuals. Everyone is talking about it, writing about it, and comparing it with traditional offices, even at the times of ‘social distancing’. Although there are several workplace hygiene norms in a contactless workplace, coworking is still a hot topic. But what is it exactly?
In simple terms, a coworking space is a setting where different offices share a common working space. Remember the school days when everyone used the same physics/chemistry lab to work on various experiments? Coworking space is something similar to that.
Why is coworking relevant
What started as a cheaper option for freelancers and startups is now gaining massive popularity among other enterprises. A Knight Frank report states that the co-working business’s gross sales have doubled since 2017 in India and is still growing.
This increment is because of the sheer potential in the pocket-friendly and flexible schemes of a coworking space. It operates in such a manner that it has been very beneficial for individuals and small-sized enterprises. But coming to the mid-sized enterprises, what special does it have to offer? How does it have the edge over the traditional offices?
5 advantages of coworking space for mid-sized enterprises
1. Pay only for space you use
Finance is the backbone of any successful venture, and cost-cutting is an essential aspect of finance. Renting an office with all the utilities is a pretty costly thing. Every enterprise needs office space for employees, and for that, they spend a large budget.
Coworking space enables midsized enterprises to share the floor and pay the bill as per the area used. This model makes it easier to get the office set up in prime locations at a much cheaper rate. The budget saved can be used for other enterprise ventures such as business investments, retaining new talents, etc.
2. Easy and flexible options
Hate the whole procedure of leasing for office? Coworking space eliminates it. Just book the number of seats, space required, and utilities required, and move in. There are even options to pay for conference rooms, cabins, and meeting rooms hourly.
Even the exit options are pretty flexible. Want to relocate? Coworking space provides a monthly subscription of service. Just move out at the month end without worrying about the hassles of lease agreements, which generally includes six months to year-long contracts.
3. Utilities included
All the regular office utilities are available in a coworking space. Enterprises don’t need to worry about purchasing and maintaining basic office requirements like WiFi service, printing-scanning, water purifiers, etc.
Utilities come with an opt-out option as well, so they are not mandatory to pay for. All in all, it is a hassle-free working setup where one can just focus on working.
4. More connections, more innovations
Good connections are a game-changer in today’s business-oriented world. When several enterprises are coworking, building connections in person and building connection digitally becomes much more manageable. A good workplace connection catalyzes progress. Making a reliable connection depends upon your first impression as well. From the way you talk to the way you share your details, everything falls under that impression. Using a smart visiting Card for sharing is one innovative way to go about it.
Thetrace social is one such service to connect your digital profiles and share them anywhere anytime. Thetracesmart login is one answer to all your smart business-contacting needs. You can easily make a Digital Business card today. Now coming back to the topic.
Meeting people with a different approach but the same goal sparks innovation. Collaborating your business idea with other enterprises or individuals who specialize in the services you need but don’t have can make your work easy. Who knows, maybe your next significant collaboration is just one desk away.
5. Motivation to work hard
Healthy competition is always necessary for improvement for everyone. No one wants to lag or be forgotten, and for that, one works hard. With a competitive environment, several disciplines working around, motivation to work hard comes in handy. A workplace with an open working environment pumps up the employees to push their limits to produce excellence.
Office space makes a significant impact on the temperament of the people working in any enterprise, irrespective of the scale. It is crucial to regulate expenditure without compromising work quality with the ever-evolving market, especially for developing mid-sized enterprises. Coworking space provides a nice balance between affordability and the quality of the workplace. Ensuring the productivity of employees and the basic requirements of an office always give better output in business. In many ways, coworking space does that in a better way as compared to traditional office space. In the end, coworking space can be described as the economical yet delivering form of office spaces.