The Rise of Coworking Economy

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Every one of us from the corporate world is aware of the rapidly trending coworking phenomenon. It is happening globally and is breeding an altogether new kind of workforce that majorly constitutes the 30-40-something “Generation X”, the 20-30 something referred to as “Generation Y” & also the latest newborn to teens referred to as “Generation Z”. Yes, we should never underestimate the “Generation Z” as there are several examples of teenage entrepreneurs who are making it big and they are really fond of coworking. Like all other countries globally, India is also witnessing a major boom in the coworking phenomenon.

The last decade has been witnessing a change in the landscape of employment which is being strongly fueled by the rise of the new generation and newly evolved trend of remote working technology. The coworking spaces these days are more than just a seat and a Wi-Fi connection. They have an interactive environment where the multi-disciplinary professionals from across various fields like innovation, creativity & entrepreneurship are thriving at a rapid pace.

The best coworking spaces are perpetually taking an initiative in promoting real-life experiences of innovative ideas & come up with the new dynamics in order to implement them in the always-learning and collaborative atmosphere. The growing number of professionals are now demanding a better alternative to the prevailing typical corporate structure. The new age workspace has several intangible benefits like the opportunity of building a community of like-minded professionals who can together collaborate and work towards achieving a meaningful purpose.

The best coworking space administrators in India are solely working towards promoting a real-life experience of innovative ideas and thus coming up with new dynamics for implementing those innovative ideas in building a full-fledged collaborative and always-learning atmosphere. There are several millennial professionals who now prefer alternative workspaces like the coworking spaces and are of the view that it enhances their performance big time and helps them build an effective professional network.

The coworking phenomenon in India is developing at the same rapid pace as is the case globally in several other countries. As per the statements from the industry experts, the coworking movement though growing rapidly is still at its infancy in India. According to the expert studies, the coworking movement is about to grow manifold and 40 per cent of the workforce in India would opt to adopt alternative workspaces like the coworking spaces and virtual offices. Needless to say, these professionals would majorly consist of the self-employed, freelancers and contractors. However, there are several large corporations and MNCs which are increasingly realizing the benefits of the coworking spaces and adopting them.

According to a Harvard Business Review Report, the idea of creating collisions & chance encounters/unplanned interactions between the knowledge workers, both inside and outside the organization considerably improves their performance.

If you’re familiar with a coworking space and have noticed the place first hand, then you must be aware that that unlike a typical office, the coworkers are usually individual freelancers or entrepreneurs from different backgrounds & when they are put together in a common well-equipped office space, they begin to form fruitful business connections & relationships which wouldn’t have otherwise occurred. For example, a water-cooler entrepreneur meets the like-minded graphic artist and a freelance digital marketer in a particular coworking space. So, the graphic designer and the digital marketer can very relevantly assist the entrepreneur to advertise the brand and send the message to the millions of prospective customers.

In case you’re an introvert and don’t like chance encounters with the other coworking members, there are several other benefits of coworking that these collaborative workspaces would provide. The regular workshops where you would have an opportunity to learn several new things which may include contemporary agendas like creating an effective blog to promote your business, social media marketing and effective digital design can help boost the entrepreneurial fundamentals quite strongly.

Instead of enrolling yourself in a random online course or hiring an outside expert as several companies often do, you can start coworking from a reputed coworking space where you would be on ground-zero amongst some of the most creative, intelligent & entrepreneurial minds in an optimum environment which is certainly ideal for achieving success.

As per the source named “OpenStreetMap Contributors”, there are around 827 coworking spaces operating globally in 79 countries. The total numbers of cities where coworking spaces have become very prevalent are 462 cities globally. These figures are expected to skyrocket even more by 2020.

Although there are several other ways of meeting like-minded people and learning from them, being in an environment where you are well known, prefer to be with and trust the people can indeed make all the difference that you are ideally looking for.

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