Economic benefits of opting for a shared office space

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When it comes to shared office space, the most obvious benefits are low rentals which eventually saves considerable operational costs and also these shared offices offer a flexible environment for work. Several benefits of the coworking spaces are prompting more and more companies for preferring the coworking spaces to the conventional offices.

The startups, as well as established companies by opting for a shared space for rent, can able to save a lot of their operational costs which is as high as 30% savings. Also, there is no long lock-in period involved when the companies opt for the coworking spaces. There are no strings attached and thus several startups are more and more opting for coworking spaces for availing the benefits.

The most obvious benefit of a shared working space is the flexibility attached to this. The entrepreneurs get the optimum access to a larger community as a large and there are several corporate and startups that are making the best out of the same. The companies are saving a lot of their operational costs as a lot of the expenses are saved on infrastructure, IT, fitments, broadband connectivity and housekeeping. Thus, the cost and space efficiencies are the major reasons why the corporate and startups are opting for the coworking spaces.

As the facts reveal, there is a potential for tremendous savings in operational cost for the businesses which opt for coworking spaces. There are quite a few Fortune 500 companies which have started to work out from these facilities. The coworking also majorly helps the several companies in scaling up faster.

The various big companies in the segments of banking, information technology, financial services, BFSI, and insurance sectors are being increasingly trying out coworking spaces as there is a shortage of Grade A ready-to-move offices in the prime business districts of the top cities in India. Also, this is a fact that the large corporations in the recent years are tending to downsize the budgets concerned with the real estate. More and more investors are also increasingly investing in the shared workspaces as it considerably reduces their business risk financially. This is because the shared spaces for rent serve as space garners for several businesses and thus there are several takers of the same. So, automatically the financial risk associated with this business comes considerably down.

The occupiers of the coworking spaces are majorly focusing on the ratios of space utilization and this reduces the operational costs considerably. There are also several innovations which are being executed in the shared office spaces in order to improve the workplace strategies. The real estate industry is experiencing a major boom in the area of coworking spaces and thus the industry trends reveal that there would be major traction in the demand for coworking spaces in the near future. Many of the big well-known and multinational firms like Kimberly Clark, French telecom giant Orange, mobile manufacturing companies like Motorola, online major Yahoo and Dr, Reddy’s Laboratories are already opting for coworking spaces which have started to provide the organizations some major benefits. There are also successful e-commerce firms like Amazon, Alibaba, and Paytm which have also opted for coworking spaces in order to considerably expand the business presence.

So, to conclude this is obvious that the coworking spaces are being increasingly favored as the large corporate and the startups are actively recognizing the cost benefits. There are several areas like paperwork, rent, conference room renting for meetings, wages of the supporting staffs, internet charges and electricity where the monthly expenses can be saved in the shared office space.

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