Top 7 Benefits of Coworking Spaces for Tech Startups

How To Select The Right Coworking Space For Your Startup/SME?

Tech startups are at an all-time high in India right now.

So much so that India is proving to be a breeding ground for startups -- in 2019, India stood firm on its position as the third-largest startup ecosystem in the world. Owing to which, workspace is not only critical but also a necessity for startup owners to think beyond their imagination, implement their ideas, and get the required support.

Why Office Environment and Space Matters to Startups?

Startup environment can be best described as dynamic.

So while starting out from your home’s dining area or garage, or even room would sound like a perfect plan, you would soon realize otherwise.

The right environment aids productivity, gets you operational support and you stay connected to the community as well.

All of the factors that play a crucial role in determining the success of a startup. As it is said: you are an average of 5 people you spend the most time with.

This fits apt to the coworking culture as well, a place where you will find people from all walks of life, striving towards their own goals. In this blog, we are going to learn how tech startups can benefit from coworking spaces, eventually contributing to the success of the startup.

Advantages of Coworking Spaces for Tech Startups

1. Inspiring Spaces Encourage Creativity

Gone are the days when people worked out of dull cubicles with blank walls staring back at them. Top it with the restricted time for taking breaks, lunch and pre-decided office hours. Furthermore, you can only build your network with the members in the same circle as you.

However, with the changing trends, raising awareness about how the workspaces affect mood and productivity, criteria for selecting the workspaces are also fast-changing. People prefer working out of spaces that amplify creativity, innovation and motivation.

The architecture, lighting and the way furniture is spread in the coworking spaces strives to bring people closer for collaboration and networking, contributing to the growth of their businesses. Each space is crafted carefully to foster community interaction, spreading positive vibes, and not to forget, increasing productivity.

2. Working Hours Flexibility

The constant change in staffing requirements for startups should come as no surprise. As a tech startup founder, you can get shared office spaces to accommodate your team. Or, if you have to invite a client over for meetings, you can get meeting rooms upon request.The best part is that the spaces cater to the requirement of all types of teams. For say, developer teams enjoy the flexibility in work hours and also feel the comfort that they usually get from working from home.The open spaces, break out spaces, communal kitchen and desks are designed in a manner that facilitates freedom of mobility without disturbing one another. Moreover, with the constant changes in team size and other factors, coworking spaces prove to be pocket-friendly for tech startups. Let’s see in our next point, how.

3. Financially Viable

Apart from aiding the creativity, coworking spaces are known best for reducing the cost incurred by startups. How?

First, there is no upfront cost for setting up the shared space.While if you go out to lease a property, you need to pay upfront and also get into a contract of anywhere 3-5 years. Not only this, leasing the property comes with the cons of maintaining the space, and also purchasing hardware.Second, at the shared office spaces, you get everything bundled with your package to aid your daily operations. From leasing printer, computer, desktop to internet services, maintenance, and edibles, these spaces are known to deduct cost tremendously.Not only cut the cost but also you, as a startup owner, do not have to bother about these things on a daily or monthly basis.

4. Tech Events & Meetups

Coworking spaces facilitate companies to run events in the premises only so that they do not have to look elsewhere. Not to forget, you get to meet amazing new people, potentially great for your business and learn something new, every single time.

Pannal Dehradun is on of the best places in Dehradun to host tech/IT meetups, in the month of August, Pannal hosted a Cyber-security event known as “I am hacked.” This event was aimed at raising awareness about cyber-crimes owing to the increasing number of crimes that were affecting fortune 500 companies and government agencies. Therefore the need to educate each individual to be immune of such crimes, and raise awareness this event was conducted.

The best part was that this event was not limited to techies and IT professionals but also for common people who use internet extensively. Events like these bring the community closer - keeps one updated with the latest information and network & meet like-minded people in the industry. Moreover, the best of inspirations are drawn from these events.

5. Incubation Support for Amplified Business Growth

Business incubation is another factor that attracts tech companies to coworking spaces. Starting out and operating smoothly is a journey that’s full of roadblocks, we understand.

Our business incubation support takes half of the burden off your shoulder which includes HR, Accounting, Payroll management, Virtual CFO and financial reporting.

The services provided in the incubation support strive to support startups in their initial years and help them grow and accelerate their business with the help of targeted services. This support also extends to resources like shared spaces and amenities that startups are free to utilize.

Bottom Line

So these were some ways tech startups are able to benefit from the coworking spaces.From shared spaces to networking and resources at disposal, we are sure you the gist of how coworking spaces work out.

Have any more questions? Do not hesitate to get in touch with us!Know any startup owner? Do not forget to share this article with them.

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