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Why shared spaces is the next big thing for India

Start ups and SMEs are actively looking at shared work spaces, catering to their new-age workforce. Millennials, along with freelancers and independent workers, will be the backbone Collaborative spaces, relaxation rooms and instant food and drink options is their idea of what office spaces should be.

The demand driver for office space is clearly the technology sector recording nearly 70% of the total absorption in shared spaces, it has gathered a lot of movement in last few years. India has been open and is becoming a fast growing shared economy. Shared space is becoming a huge extension for the smart talent.

Start ups and SMEs are actively looking at shared work spaces, catering to their new-age workforce.

Millennials, along with freelancers and independent workers, will be the backbone in the near future and beyond at Start-ups and SMEs. Importantly, flexible working spaces are to their liking. Collaborative spaces, relaxation rooms and instant food and drink options is their idea of what office spaces should be.

1. Location independence & flexibility

 The major advantage  is of working from a shared  or co-working is the location independence that it offers. learning and sharing takes places at every moment at the share workplaces and corporate can take advantage it 

The multiple locations allows the corporate  the much needed mobility. It also gives the options and helps in remote hiring, walk to work concept, changing the location if needs arrive and can have small customer touch point at multiple location without investing a bomb into it. The multiple locations also help in addressing logistical, sales and customer delivery issues 

2. Productivity ready spaces

Walk in, Plug in and start working. Creating a fully functional office from scratch takes time, effort and money - all of which are better channelled in making the right business choices. Shared spaces eliminate the pains of setting up office by providing you with customisable, fully functional plug and play facility, you have benefits like access control through smart cards, a business telephone system, high speed internet connection, UPS and power back-up, and partnered spaces for client and team meetings.

3. It is economical

Renting a shared space is much more cost-effective. Shared spaces are very affordable when we compare it to the renting our leasing out the entire corporate office. Almost all shared spaces offer access to the necessary amenities of the offices  like  printers, fax machines, internet, coffee etc ,  So the company or the entrepreneur don't have to deal with this little pesky issue on regular basis. 

4. Helps boost your employees happy quotient

You may do excellently at your assigned projects, but sometimes can feel the burn of performing constantly. Striking the right balance between professional and personal time as well as development is a tall ask of any leader. Which is why, moving into a shared space can get you a whole host of benefits, like transportation services, pre-allotted parking spaces, gymnasium, multi-cuisine food court, and a whole lot of events and workshops.

5. Network and grow

As Porter Gale says, ‘Your Network Is Your Net Worth.

When you’re an entrepreneur, who you know is just as important as what you know. This is where the real value of a shared space comes to play as you’ll get an opportunity to network with similar-minded people who was just as passionate and goal-oriented as you.

You could even end up meeting your co-founder, an investor or your business prospects.

6. All the talent and creativity at your fingertips

Shared spaces tend to attract talent from different fields and industries with diverse background. Get to know your co-workers and take advantage of the skills and opportunities presented in front of you. Don’t be afraid to ask for help. For all you know, your co-workers are also in need to help as much as you.

7. Community management

Shared spaces have lots of office and there are lots of people form diverse backgrounds working in it. The share space becomes a one corporate in itself and all allow the entire worker to be part of huge community. 

Most of the shared spaces or co-working has community manager whose role is to help and ensure the day to day operational efficiencies and efficacies. The community managers also help in connecting people by arranging and organising events

These are just a few of the many advantages why shared spaces are the next big thing for India.

Indiqube  workspace's food court
Indiqube  workspace's food court
This is a YourStory community post, written by one of our readers.The images and content in this post belong to their respective owners. If you feel that any content posted here is a violation of your copyright, please write to us at mystory@yourstory.com and we will take it down. There has been no commercial exchange by YourStory for the publication of this article.
A passionate entrepreneur and foodie explorer, Meghna is one of the co-founders of IndiQube. With over 14 years of experience in manufacturing, HR, consulting and commercial real estate, she is also the co-founder of HirePro and Ultrafine. Armed with an MBA in Finance from IMT, Ghaziabad and a Company Secretary Degree, her interests include interior design, branding and project management. Meghna’s diverse skills and interests have helped transform IndiQube into a growth environment that combines an easy-going, professional ambiance with sound operational and technical processes to help businesses as well as its employees come in and thrive.

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