Jun 14, 2018 Blogs Co-working space

The future look of Co-working spaces in 2020

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From a VC or director investing in startup ideas to date wooing your angel, a lot can happen over a cup of coffee. Coffee shops have mushroomed all the over cities, not because people are addicted to caffeine or the different, tasty variants, but because coffee shops aren’t just coffee shops anymore, or rather they don’t sell coffee alone. They sell an idea, which is that these spaces are the meeting point of other ideas and fast congregations. Every penny that you save is actually an earning and startups just can’t afford to have lavish business centers or tech parks in the nascent stage. Moreover, it’s plain boring to work in a startup sulking in a corporate jungle. The restlessness and aspirations of today’s entrepreneurs to achieve their dreams aren’t confined to just a bland corporate setup. Rather, they need wings to start their flight of fancy. Courtesy co-working spaces, the dreams and ambitions have wings.

The road ahead

There has been a paradigm shift in recent years in the way co-working spaces work. With the viable concept evolving from a great alternative to a conventional office lease for emerging companies, freelancers and startups to becoming a pivotal and integral aspect of bona fine business and real estate portfolios, there are key concepts for the way ahead. Flexibility is the undisputed king in 2020. It tops the list of all co-working benefits for small businesses and freelancers and even big enterprises.

Know the factors

Co-working firms provide short-term takes and leases at different square footages, enabling tenants and other players to determine the most suitable workplace strategy for their corporate aspirations sans any long-term drawback or obligation. You’ve co-working driving cost-efficiency with market players and tenants to avoid the upfront and significant capital cost of creating the right space and potential risks and uncertainties of paying for that space.

Rapid growth acceleration

You will find that the number of co-working avenues worldwide has leapfrogged from 1, 135 in 2011 to 13800 in 2017. During the same time, the number of operators or member has increased drastically from 43, 000 to nearly 1.2 million. Recent forecasts indicate the figures of co-working members are slated to rise to a whopping 3.8 million by the year 2020 and a staggering 5.1 million by 2022. The next thing is that design will drive engagement. The best and popular co-working avenues are immersive and inclusive. They offer captivating content and design, providing unexpected elements of comfort, convenience, and fun. Co-working design helps businesses by fostering and encouraging relations with customers, which can pave the path for more formal corporate accords. As stated in the beginning of this article, some companies have recently launched design innovations such as coffee shops, retail units and pop-ups, amenity floors, fitness centers and educational institutes.

Connectivity drives innovation and growth

Co-working avenues generate enhanced connectivity for different business houses and small firms, presenting a great room for innovation to bolster the intersection of corporate disciplines. It mirrors the balance between tension and intellectual harmony. By the year 2020, a co-working space will blend the noted aspects of a fascinating boutique hotel with the university’s social ambiance and a home’s comforts.