Shared office spaces: An upgrade to work from home

One faces a constant struggle while keeping pace due to never-ending overheads in a start-up/SME/corporate offices, etc. Now, with growing market demands along with our economy, that is growing rapidly, various small businesses are opting for shared office space for rent. It is a viable option for businesses of all sizes wherein they could have it rented use them as meeting rooms, conference rooms, training rooms etc. To gain a crevice to expand one’s business operation, shared offices could provide an ideal working environment for small-scale businesses.

List of some benefits for shared office spaces:

·         Wallet-friendly: If one has to establish a new commercial space, be it temporary or permanent, it is very expensive. One has to also look after the new furnishings and all. The burden is lessened in a shared office space as one could easily avail for many facilities along with it like furnishings, good infrastructure etc.

·         Good location: A location which can be easily reached and has plenty of transport options available should be preferred. A good location would even make a good impression on the suppliers and investors.

·         Reduction in overheads: Co-working or shared office space is the best way to take off a young business. The duration of hiring such spaces could also be decided, be it for a few months or a few days, etc. This releases a lot of financial pressure.

·         Networking: Working alone or working from home creates boredom and loneliness. If we have people of different backgrounds around us, there is always something new to learn, to do and in this, in turn, it gives an opportunity to open-mindedness. Enabling oneself in a co-working environment where you have nowhere to escape but meet your co-workers of different kinds and having different businesses gives a lot of exposure and would make a lot of difference in one’s own new business.

Productivity could be created only if there is a change in the scenario or situation. A new relationship is established with co-workers which without even knowing is mutually beneficial. The outflow of cash could be controlled whether the business expands or fails. This gives the mind some peace and helps one to focus on actual business rather than spending his/her effort on focusing on office spaces.

Shared Office Spaces: An Ideal working place

In order to gain a foothold for establishing a new business or expansion of existing new business, shared office spaces provide one with an ideal working environment. The flexibility of short-term lease provides the ease in the process and functionality of any establishing business, start-ups etc. The decision making for co-working or to find shared office spaces should be made after considering the pros and cons of shared office space rental/s.

Cons to consider before you rent shared office space:

·         Different co-workers: One cannot gauge what kind of fellow co-workers would be there in the shared office space like their frame of mind or noise levels or their working environment/level of hygiene, etc.

·         More Competition:  As start-ups, one may face competition or somewhat similar business in the same co-working space. There could always be days where when you are speaking around and you don’t want to be heard.

·         Different work culture: It is difficult to have a work culture that you would specifically want to create for your own business to flourish i.e. is business specific. It is very difficult to have such an environment in a shared office space.

Pros of shared office spaces:

·         Meet new people every day: You meet different co-workers each day. Though it has its limitation, you also get to interact and know more about different types of people around you which may also help in conducting market research for your brand.

·         Low overhead: Establishing a new office—even a temporary one—can be a costly and time-consuming endeavour; while in a shared office space, everything is already set up for you. You just need to reach there and start working.

·         Flexibility: There are a lot of flexibilities availed for shared office spaces such as no deposits, no upfront fees, flexibility and early availability of shared offices.

·         Networking: Shared offices provide to network with new start-ups people who enthusiastic having different views, ideas, methodologies etc.

·         Short term lease: Co-working gives that budget friendly satisfaction and the lease structure could be availed for a short period at a subsidised rate and also at a low price.

·         Access to many facilities: Access to many facilities like conference rooms, fast internet, conference rooms, printer/scanner etc.

These are just many of the few things to be considered in this new age of business. As every coin has 2 sides, it's important to book office through reliable service provider where there is no ambiguity and freedom to compare and choose what best suits your needs.