Is Co-Working the future of India?
Hey, I am Ar. Tanya Singhai. Welcome to ArchLit Design Studio — where I give you quick DIY ideas to convert any abandoned/boring space into a lively/creative space! Today I am going to tell you about “Is Co-Working The Future Of India?”
So, co-working space as a concept is still quite unaware to the general masses. It is due to the rise of millennials and startups culture in the country. The co-working is another western concept that has found wings in India. Relatively it was a new concept in the early 2010s, but now the co-working industry has carved a niche in the Indian economy.
Since India has abundant talent and growing employment, it is the perfect office/workspace for acceptance of a new working style. Due to the flexibility that coworking space has begun to showcase, the demand for flexible, innovative and collaborative workspaces have become a reality and an in-demand act to be conducted in India.
The industry of Co-working space is constantly being shaped and expanding. It is estimated to reach a market valuation of billions. With such promising numbers and the constant growth scalability of coworking hubs, we can say that the future of coworking space in India is very bright.
Since India has abundant talent and growing employment, it is the perfect office/workspace for acceptance of a new working style. Due to the flexibility that co-working space has begun to showcase, the demand for flexible, innovative and collaborative workspaces have become a reality and an in-demand act to be conducted in India.
The days of conventional offices with desks, chairs, high leases, separate housekeeping staff, and expensive cafeterias are long gone. Today the shift has focused onto the more collaborative and economical culture of working together and community building.
Imagine a workspace where you could connect and network with like-minded professionals of the same business or different businesses, it could foster important connections and can lead to business engagements. The effectiveness of discussing an idea with different people of the different profession over a cup of coffee or even a mug of beer can help the creative juices flow. The hierarchy and different industries will give you the extra edge which can be a win-win situation for everyone in the community.
Having said that, about the complexity and the evolving nature of co-working spaces in India. The most significant factors that are contributing to this growth for the co-working arena can now be discussed. It is important to understand why the current workforce is interested in moving to co-working spaces:
– Cost-effectiveness:
The co-working model of operation is very economical. The co-working industry operates on a very short lease, cheaper and flexible plans and scalability for the team as it expands. There are hosts of different zones of work/businesses like the freelancers, new start-ups, who prefer co-working. The cost of capital eventually goes down and has an additional opportunity to expand, for growth and good infrastructure. It is a very practical approach to save up to 50-60% savings as compared to any basic office set up in the metro cities.
– Networking and collaborative opportunities:
Fostering workplace relations with other profession companies in the same shared office space can help in growing connection and collaborate with tons of other people who are growing and are in similar space like your brand can help you bond. It can help generate business, shoot up revenues, help to solve a production problem or integrate your business altogether.
– Loads of amenities:
All of the co-working spaces in India have tons of amenities to offer. They help in providing basic workplace amenities, community connections, engagement activities, discussion sessions, knowledge transfers, recreational activities, latest comfortable infrastructure, 24*7 security, latest technology-enabled areas and internet. The idea of the hassle-free working environment and bettering their future.
– Rapidly rising trend:
The co-working trend has undertaken the Indian ecosystem. It is widely projected that by 2020 more than 50% of the global workforce will be using the services of the shared office space. The open and flexible system of co-working can make companies widely look into the co-working as an option.
With such components co-working most certainly has a very bright spectrum and is the future of unconventional workspaces.
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