Flexible coworking space in India is an emerging trend as it offers cost-effectiveness and greater flexibility. Recently, there has been a sharp increase in the demand for coworking spaces in India & the trend is expected to continue. Check this article to know more about the demand & future of the coworking spaces in India.
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What Is Coworking Space?
Coworking Spaces are designed to provide small and large-scale businesses with a workspace.
Many facilities like networks, employee perks, and business amenities are provided for better productivity.
Organizations and offices have seen diversity in their work culture since the pandemic started.
Prior to the pandemic, the concept of coworking spaces in India was not very popular. However, post lockdown, it gave rise to the demand for coworking spaces in offices.
After the unlock process initialized, the companies started to find new ways to cope with the situation.
These coworking spaces or shared spaces in the office have helped the employees to work in a diverse environment.
It is believed by the employers that the coworking spaces increase flexibility for the employees to manage their work and time properly, and create a diverse network.
However, not only for the employees but also for the companies, this coworking space has proved to be a practical option to save costs.
The Coworking Spaces in India
During the pandemic, the companies had to shift their work culture from office to home. The working style of most organizations changed due to this.
However, during the pandemic, youths of India started to grow their dream business as they got enough time to explore the market digitally.
India ranks third in the Global Start-up Ecosystem.
Due to a rise in entrepreneurialism among youths, improved infrastructure, improved internet connections, large technology installation, and flexibility of doing business.
The youth entrepreneurs have a wonderful understanding of working styles, which they utilized after the unlock process.
The Present Situation of Coworking Spaces in India
Due to new start-ups, there has also been a rise in the demand for co-working spaces.
Not only that but all the new and old companies who had planned to buy new pieces of land to open a new branch supported the coworking space trend.
They began to perceive Coworking spaces as a more accessible and cost-effective method to conduct business in the post-COVID work environment.
The services provided by such shared spaces are reasonable and enable companies in saving a substantial amount of money as well as time, all while maintaining employee productivity.
The Future of Coworking Spaces in India
Considering the current business environment of India, it can be concluded that they are blooming.
The coworking space has not only helped the companies to blossom during the pandemic but it is sure to continue in the future as well.
According to a recent study, it is noticed that the share of coworking spaces in the total office space currently consists of 3%.
It is estimated that this rate will increase to around 4.2% by the year 2023.
As per the study, it is found that the employees are finding this coworking space more productive and efficient for them.
The coworking space will witness a growth of 50 million sq ft by the end of 2023.
In the future, the demand for coworking spaces will increase because it enhances the productivity among the employees which also gives rise to investment in these spaces by the companies.
Best coworking spaces in India
As the rise in demand for coworking spaces has increased, many new ventures have started which provide the best coworking spaces in India.
Many multinational companies have tried a new way where the employees staying in remote areas do not have to travel further.
The companies hire a coworking space for their employees near to their location.
Let’s check the 12 best coworking spaces in India where new startups, as well as already established companies, can facilitate the space.
Cowork by Investopad Coworking Space in Bangalore, Delhi, and Gurgaon
Awfis Coworking Space in Bangalore, Chandigarh, Ahmedabad, Kolkata, Pune, Mumbai, Noida, Delhi, Gurgaon, Chennai, and Hyderabad
Regus Coworking Space in Bangalore, Chandigarh, Ahmedabad, Kolkata, Mumbai, Noida, Delhi, Gurgaon, Chennai, Hyderabad, Coimbatore, and many other cities.
Smartworks Coworking Space in Bangalore, Kolkata, Mumbai, Delhi NCR, Chennai, Hyderabad, and Pune
WeWork Coworking Space in Mumbai, Andheri East
Red Bricks Coworking Space in Mumbai, Andheri East
IndiQuba Coworking Space in Noida
GoodWorks Coworking Space in Electronic City
Workafella Coworking Space in Hyderabad, Mumbai, Chennai, and Bangalore
Hive Coworking Space in Chennai
Skootr Coworking Space in Gurugram
91 Springboard Coworking Space in Bangalore, Pune, Mumbai, Noida, Delhi, Gurugran, Navi Mumbai, Goa, and Hyderabad
Benefits of Coworking Space
The Coworking space has proved to be very beneficial not only for the startups but also for the multinational companies to improve their productivity in the market.
Following are the 5 benefits of coworking space for companies:
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- Productivity has improved: the first and the most important benefit received is that productivity has increased. The startup businesses require space for their work within their budget and the coworking space serves the purpose. Employees might get distracted while working from home, hence this is one of the reasons why coworking space is required.
- Cost-effective: when any company rents a space, they have to deal with many other extra costs as well as perks for employees. Whereas, coworking space provides all the perks required for the employees under one roof. There are also extra services provided like business mail which also saves a lot of money for the company.
- Great flexibility: coworking spaces provide flexibility to the companies. If needed any company can cancel their membership with the coworking space. This kind of flexibility helps companies to work efficiently according to their preferred work environment.
- Opportunities for collaboration: Coworking space offers networking opportunities and with that, it also provides collaboration opportunities. You get to meet new people and new talents which can help you to improve your productivity.
- Increasing network: when you get to connect with new people, your network automatically increases. This is one of the most beneficial points for the startups as they can get inspiration from other established companies to drive their business forward
FAQs
| Q: Are Coworking spaces profitable for Indian companies?
Ans: Employees have been able to operate in a more diversified atmosphere due to these coworking facilities or shared office spaces. This has increased the productivity of the employees resulting in creating profit for the company. |
| Q: Are Coworking spaces the future of India?
Ans: Coworking spaces have increased the productivity among the companies a lot. Hence, as per the statistics, the companies will evolve soon to coworking spaces for better efficiency in their workplace. |
| Q: Is Coworking Space increase efficiency?
Ans: The companies get to improve their productivity and also meet with other people to increase their network in the market. The efficiency automatically increases when the company involves in productivity and increasing networks. |
| Q: How profitable are the coworking spaces?
Ans: Around 90% of the Coworking spaces are successful and profitable. These numbers will increase in the future. |
