The definition of ‘work’ has completely changed in today’s world. Work no longer means going to the office in the morning and returning home at night. People work from home, from cafes, or even while travelling.
Some people have completely remote jobs. This also comes with many challenges. Those with small homes need more space to work. Some people have started their new businesses but need more money to spend on rent. Coworking spaces have risen to provide a good solution to all these new issues. Let’s understand how coworking spaces have risen and how they are changing the way we work.
How Are Coworking Spaces Changing the Way We Work?
Here are some unique features of coworking spaces that have started to change our way of working and has led to the rise of coworking spaces:
1. Better Flexibility
This is one of the biggest advantages of coworking spaces. There are no fixed hours for going to and returning from a coworking space, and you can go there at any time as per your convenience and work schedule.
Some coworking spaces for night work may also be open for those with international jobs. This is a great advantage for freelancers and other people who work for themselves. Also, you can rent more desks or a bigger space for a short period of time.
2. Collaborative Environment
People from a variety of backgrounds come together to work in coworking spaces. This allows us to meet new people and network with them. You can make great friends there so that you don’t have to spend all day alone.
This is also great for those who want to expand their professional network. This can also help businesses get more customers. For example, a chartered accountant may get clients from diverse backgrounds through networking at a coworking space.
3. Higher Productivity
Some people are more productive when they work from a desk or in an office setting. However, getting a dedicated desk can be tough for those who work remotely. And, often, people don’t have enough space at home, affecting their productivity. Coworking spaces have clean desks, coffee machines, comfortable chairs, printers, and all other typical office facilities. This creates a productive office-like environment, which can lead to better productivity.
4. Better Amenities for Employees
Many small businesses do not have the money to rent large office spaces. But, coworking spaces have almost every facility available, similar to corporate offices. It has printers, projectors, conference rooms, and many more facilities. This helps small businesses create a great working environment for their employees. They get the feel of working at an office with top-class facilities, leading to better morale and productivity.
5. Affordable Rent
The rents in metropolitan cities are shooting up. It’s not easy to rent a large office space nearly anywhere. The business needs to pay a high amount of rent every month. In addition to that, they have to develop and maintain all office facilities. Some extra workers must be hired to keep the place clean and presentable. This requires a lot of investment.
But there are numerous affordable coworking spaces. The business does not have to worry about providing any facilities to the customers. Also, they can only pay for the space that they actually need. The conference room or other bigger spaces can be rented temporarily by paying a small extra amount whenever needed.
6. Impressing Clients, Customers, or Dealers
Coworking spaces are well-designed and have all the right amenities. This can help in creating a good first impression on customers, potential clients, investors, or important dealers. You can also rent conference rooms or projectors by the day in case some important clients are visiting.
Role of myHQ in Transforming India’s Way of Work
myHQ is a one-stop workspace solution that can fulfil all your work requirements! All over India, myHQ coworking spaces are enabling aspirational youth to achieve their dreams by providing cutting-edge spaces to work. The best thing about myHQ coworking spaces is that professionals and businesses of all sizes and walks of life can opt for them as per their flexible budgets. You can choose between pay-per-use plans or fixed desks for teams and individuals, empowering you to go to work without renting an expensive office space. You only have to pay for the time you use the space.
The Rise of Coworking Spaces
According to Statista, there might be more than 41,975 coworking spaces in the world by the end of 2024. This number was just 16,599 in 2018. Many brands are expanding their coworking businesses across countries. Why has the number grown so much? Well, it’s because the way of working and the idea of work have changed a lot over the years.
During the COVID-19 pandemic, all of us became more familiar with different working modes. We all realised we could work flexibly from home or anywhere. Many people started looking for fully remote jobs to gain freedom over their time.
Apart from this, the increase in new businesses and startups has also helped coworking spaces grow. New businesses need office spaces for their employees but do not generate enough revenue to buy or rent a place. Coworking spaces are a good solution to this problem.
All these factors have contributed to the rise of coworking spaces over the last ten years.
FAQs on How Are Coworking Spaces Beneficial
Here are some commonly asked questions on the rise of coworking spaces:
What facilities are generally provided by coworking spaces?
Coworking spaces provide the facilities that are needed for an office. This includes basic facilities like desks, chairs, lights, a cafeteria, coffee machines, and printers. Some coworking spaces can also provide high-end facilities like projectors, conference rooms, and lounging areas.
How can coworking spaces improve productivity?
Coworking spaces have a quiet environment with all the facilities required for an office. They also do not have the typical distractions that might be present at home. The environment, the coworkers, and the lack of distractions can lead to better productivity.
Will the number of coworking spaces grow in the future?
Yes. Along with the rise in demand, the number of coworking spaces is expected to increase. According to Statista, the number of coworking spaces in the world will be 34,618 in 2023 and will grow to 41,975 in just one year. More and more people are embracing flexible working, and they are looking at coworking spaces.
Who should consider working from a coworking space?
Coworking spaces are ideal for you if you work remotely, in hybrid working situations, or as a freelancer. They are also perfect for people who have distractions at home.
Do coworking spaces have benefits for startups?
Yes. Coworking spaces can be very beneficial for startups. Startups often need more funds to buy their own space, and renting a place can be very expensive. Coworking spaces help them provide employees with a great working environment without spending a fortune on developing office space.
Coworking spaces are very different from traditional offices. The investment required is very low compared to setting up an entire dedicated office space. Small businesses find this a very comfortable and flexible option. This is also a great working space for those who work for themselves, such as freelancers. Due to these benefits, coworking spaces are rapidly rising worldwide and have completely changed how we used to work.
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