Future of Coworking Space

Accept it or not but we all are fed up with traditional boring cubicles, right? Just imagine a workspace where you can have access to all the amazing things including a pantry, library, gaming zone, bean bag, fun stationery, laptop, projector, printer, etc.

Sounds cool?

Well, it does sound like a dream workspace to many people. All thanks to the concept of co-work spaces for turning their dream into a beautiful and well-functioning reality.

According to Statista’s future of coworking space worldwide statistics, there are around 18,700 co-working spaces across the world. And in India, there are around 850-1000 co-work spaces.

Since the time freelancing and entrepreneurship have gained momentum, The future of coworking space started showing up like never before.

As the corporate world is modernizing, remote working and flexible working culture are becoming common and people seem to love this change.

All of us have been watching huge infrastructures and personal cabins for a very long time. But now the future does not lie in those wooden tables and chairs. Co-work spaces are all set to take over the traditional offices. This is all because of the various benefits they have.

If you are still working in a traditional setup office, then you need to have a look at the benefits which a co-work space offers & get an idea about the future of coworking spaces.

Benefits of Coworking Spaces

Refreshing: Sometimes, working from home or working in an office both can induce a feeling of loneliness and tiredness. Here, at co-work spaces, one can do a lot of recreational activities.

You can read your favourite novel, listen to some music, chit chat with people around, have a coffee break, take a power nap on a bean bag, etc. It boosts up the energy and increases the work efficiency of any individual.

Motivation: Working with self-driven and highly motivated people inspires everyone and motivates them to work even better.

Discussing problems with like-minded professionals, finding solutions together with a team, looking at a freelancer struggling and winning all alone, are some of the scenes you get to see quite often in a co-work space. In this way, people learn, share and grow together.

Networking: One of the best benefits of co-working is the ability to build networks or connect with people who otherwise would not meet. “Your network is your net worth”, No wonder, the future of coworking space is bright & very well justifies this famous saying.

You can find a tutor for your child, a mentor, an investor, a wedding planner for your brother’s wedding, a publisher for your debut novel, a friend, and sometimes a life partner!

Innovation: Co-work spaces play an important role in bringing innovation up on the table. Positive energy, soothing music, high-spirited individuals, teamwork, creativity and ideas, all lead to new innovations in established businesses and startups.

Coworking does not only bring innovation but it boosts the productivity and quality of work.

Without bragging more about the benefits, let’s move ahead!

•You are unable to focus when you work from home.

•Distraction comes so easily when you work alone as a freelancer.

•You get easily bored at work in the office even after having more than 10 people around.

•You miss interacting and socializing because of the busy schedule at work.

•Unavailability of resources at home or any coffee shop like high-speed internet, printer, etc.

•You don’t get good vibes from the office?

There can be different reasons for different people for shifting to modern co-work spaces.

And if we talk about the demand for these workspaces, then you must consider how rapidly businesses are expanding to multiple cities and countries. This expansion gives rise to a more promising future of coworking spaces.

The Demand For Coworking

•If we talk about facts, India has 10% of office spaces occupied by co-working and is expected to rise to approximately 25% in the future.

•Coworking is giving more flexibility to all the startups, entrepreneurs, business travellers, digital nomads, and freelancers who are only increasing with every passing day.

•In India, there is going to be massive growth in employment in the future. And that’s when co-work spaces are required.

•One can easily save up to 20-25% of the investment a traditional office setup needs. Co-work spaces are economically the best solution for modern startups.

•The trending co-working culture is accepted quite well by the Indians and definitely, the future of coworking spaces is great especially in India.

Did You Know?

One of the very famous co-work spaces providing Indian company, Awfis‘ revenue grew almost three times in 2018-19 to Rs 158 crore from Rs 56 crore in the previous year.

Now you can well imagine the growth rate of co-work space companies in the next few years.

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