When one is defining workplace culture, one strongly inclines towards the character and personality of an organization and points towards what makes it unique and most importantly what makes it positive.

Some of the key elements that one looks for in an organization are its values, the traditions that it follows and what beliefs does the place have.

The above points closely impact the behaviour of the people that work there and a positive environment then attracts more happiness to the workplace.

Coworking Spaces For Entrepreneurs

In the traditional form of the workplace culture, a person could only afford an office space when they had reached a certain point financially or they ended up spending a huge chunk of their money towards it.

With the arrival of coworking spaces, the entrepreneurs are now finally able to take a huge step towards business growth. They can now save a huge chunk of money that they would have otherwise spent towards property, office furniture, and equipment and invest it for business growth and development.

Coworking Spaces For Freelancers

Freelancers, who traditionally worked from home, are now moving towards coworking spaces as it lets them focus towards their work and not have constant distraction and delays that they face at home.

Traditionally freelancing was looked down upon and Indian workers only looked at freelancing as the second working option.

In today’s world, millennials prefer not to be restricted at one place and take up various freelancing jobs so they can work on their own pace and requirement.

For them, coworking spaces thus work wonders as it provides them with a home away from home without actually being restricted to home with regards to work.

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Advantages of working out of Coworking space

One of the biggest advantage that one has while working out of coworking spaces is that it offers both freelancers and entrepreneurs a central location.

For example, in Delhi NCR, myHQ is located in over 100 locations and you can find a coworking space that works best for you with the help of their location locator.

This will not only help you find a place that is close to home but if preferred at a prime location of Delhi where your clients won’t have a hard time finding you.

 

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Networking opportunities

As a new entrepreneur or even as a freelancer, one is always looking for new clientele whom they can approach with regards to new or more work and also expand their horizon.

When you are working in co-working space, this is ever expanding as a shared office means you are also surrounding yourself with other goal-oriented people who are looking to grow.

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This means you have an opportunity almost every day to network with other business owners and freelancers who might need your help with regards to work and also provide you with a huge base of professional freelancers whom you can hire based on your needs.

Further, you might also find potential partners, clients, and mentors at the same place who have the ability to easily outsource their work to you and vice versa.

Promotes work-life balance

When it comes to traditional form if working, thanks to constant demands and travel time, one ends up sacrificing on family and “me” time and thus is not able to achieve a work-life balance.

With shared office space, one can control his or her working hours and also have venues where they can de-stress and recharge during a day of work.

Further, the majority of coworking spaces have a weekly or monthly social events which not only keeps you involved with others working in the office space but also gives you a break from your day to day workings.

These events will also help you build a better rapport with fellow co-working professionals and clients and/or potential clients.

Coworking stats speak for itself

According to Kowrk, the number of coworking members across the world will rise to 3.8 million by 2020 and 5.1 million by 2022.

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The number of coworking spaces worldwide from 2005 to 2018.

Coworking seems to have taken the Asia-Pacific region by storm in the past few years with the leasing of more than 8.0 million square feet of space taking place between 2015-2017 alone.

The researchers also say that India holds the next key to coworking as the country contains triple the workforce of the USA, yet has less than 1 million square feet of coworking workspace at present.

The fact that occupancy levels were nearing 100% for institutionalised coworking operators in India in 2017 gave us a view of how huge the demand for coworking spaces is in India.

India’s demand for flexible workspace will continue to grow in the coming years with more and more people and cities joining the coworking spaces.

Kowrk heat map

Further, India is the cheapest place to cowork in Asia (even cheaper than Cambodia) thus making the country a boon for new entrepreneurs who are hoping to tap into India’s growing startup ecosystem.

The coworking space would also not be limited to just Tier 1 cities as Kowrk also forecasts that more coworking spaces will open in Tier 2 and Tier 3 cities and will work hand-in-hand with the establishment of top management and technology institutions.

Millennial now driving the trend

According to Business World, India is the youngest startup nation in the world with 72% of business founders being are less than 35 years of age (millennial).

The data also says that globally by 2020, millennial will form 50% of the workforce.

With changing times, work preference and style also changes and coworking is one such change that allows young workforce, the right exposure and opportunities to network.

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The concept of no-string attached work and open working environment is on the rise and thus builds a compelling case for many corporations to consider.

The data is even backed by Havard Business Review. According to a study done by them, researchers who studied how employees thrive were surprised to discover that people who belong to coworking spaces were on an average of 6 on a 7-point scale which is at least a point higher than the average for employees who are in regular offices.

 

Thus, in essence, coworking spaces and work cafes function an office without the restrictions that traditional workplace culture brings. It is also an economically viable solution for startups, small entrepreneurs, and freelancers.

Looking for some inspiring coworking spaces and work cafes? Try myHQ!

Liked it? Read more:

The growth of coworking spaces in India – reasons & future predictions

8 questions to ask when choosing the perfect coworking space for you

 

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