The Indian startup ecosystem has been remarkably advanced over the past few years. According to the research conducted by Quikr Homes, India has been actuated up to the 17th position from 37th position in previous years in the Startup Ecosystem Ranking for 2019. A preponderance of global freelancers stated that they depend on co-working spaces are operating as notable contributors in this segment.
As more and more freelancers, startups and entrepreneurs are expanding in India they require the proper infrastructure, assistance to develop in their business to flourish the business.
With access to various resources and services that will assist in promoting business growth, most of the startups are opting to turn from traditional and established self-owned office spaces to co-working spaces. Everyday amenities and a social atmosphere that will encourage startups to scale up their business much wiser and more agile while opening up an abundance of new opportunities to come by while working in an office. There is a tremendous number of startups that are being beneficial for co-working spaces to develop their productivity and profitability.
Coworking and startups:
As the startups are growing in India the number of coworking spaces is increasing as well. According to the research conducted by QuikrHomes, there were roughly 350 coworking space operators in India with the majority of them contributing these spaces to startups and freelancers. However, the number of coworking spaces has been rapidly growing in tier 1 cities like Delhi, Mumbai, and Bangalore.
Many startups from multiple verticals like technology, media, leverage opportunities through networking to maximize their success. The majority of startups choose coworking spaces because they will be provided with the amenities which will encircle themselves to generate opportunities. Startups renting out coworking spaces encourages the entrepreneurs to engage in enhancing conversations with each other and share ideas to gain those efficient ways to transform their business ideas into a flourishing and sustainable business. As the popularity has been increasing for coworking spaces, many companies like Uber, Spotify, and oyo have also started choosing coworking spaces as their workstations.
Coworking spaces arise as a contemporary solution:
It recognizes the importance of flexibility and collaboration. The valuable time of setting up a workspace with all required amenities and facilities is saved while choosing one. These shared office spaces are an inexpensive alternative to rental and leased properties. This emerging sector of coworking spaces has seen tremendous growth in commercial real estate in the last few years. This coworking industry witnesses more startups investing in coworking spaces due to a shortage of commercial space in India.
Moreover, the time spent on directing administrative objections such as power fluctuations or bad internet connections is maintained. The co-working space administrators take care of leaving ambitious entrepreneurs to concentrate on strengthening their core industry.
Consequently, in each stage of a business, a co-working space presents a stable foundation, particularly in the initial stage of a startup, by connecting it to different mentors, ambassadors, patrons and so on.
All startup organizations have various reasons to choose coworking spaces:
Secure access to all kinds of amenities: many startup organizations choose coworking spaces to get closer to inventors in the same field.
Cost-effectiveness: the reason many industries, freelancers and minor businesses use coworking spaces to employ larger corporations.
No matter about the size of the organization, coworking spaces can save money.
Employees can have more flexibility and choose whichever location is more comfortable for them.
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