Everything You Need To Know About Co-Working And Its Benefits

If you are a freelancer, start-up, or an entrepreneur, you would know how it feels to have multiple tasks on your plate. You have been with that intimidating feeling, right?

From cold-pitching to getting the deals closed, from constructing a strong, personal brand to fund-raising, the hustle is real! But here is a good part — you are not alone. India is proving to be a breeding ground for independent workers and startups. To give you numbers:

  • India has 2nd largest freelance workforce after the US. According to the KPMG report, India has witnessed startups rising from 7,000 to 50,000 in a decade (2008-2018).

  • Now, we are firm, these numbers are only going high with time. While you have the liberty to work from any place, here is the crux — a proper workspace is crucial to enhance productivity and bringing out the best in you.

You get it, we are speaking about co-working spaces. But, before we get to discussing the benefits of co-working spaces, let us understand their significance. 

What is a Co-Working Space?

While the first thing that comes to your mind for co-working spaces would be an open pantry, hot desks, and quirky interiors, there is more to it. The co-working space is a central location that accommodates professionals from all walks of life. With a not-so-heavy fee, they supplement your business with their basic to pro amenities. Here, you get ample resources at your disposal, under one roof.

Coworking spaces are where you can vent out when working from home or café becomes isolating. Furthermore, they equip you with all the essentials your business needs. Occupants of coworking spaces generally are:

  • Startups

  • Corporate employees 

  • Freelancers

  • SMEs

  • Entrepreneurs

If you think the definition of co-working spaces is limited to only “ cool”, we want you to re-think it.

They prove to be your helping hand by facilitating a proper work environment, incubation services, assurance and accounting advisory, etc. Let us now dive a little deeper and see what more they have for you. 

8 Benefits of Co-Working Spaces For Your Business

Now that we have seen what are co-working spaces, and who can utilize them, let us see what treasures they have stored for you.

1. Squeeze in your budget

Co-working spaces are a great place for startups, given the fact that you can effortlessly tailor your plans. When your team size balloons or shrinks – which is very common, you can mould the plans. Additionally, you don’t have to worry about leasing property for 3-5 years; top it with the under-utilized office space. We can tell you, this is the most prominent reason startups swear by co-working spaces.

2. Networking

The bare necessity for any startup is — networking! Co-working spaces accommodate people from various professions, and you never know, when you find your potential client there. Apart from this, when the going gets tough, it is the environment that keeps you motivated.

3. Unplug from Distractions

While working in sweatpants seems like the perfect thing when it comes to “ begin your own boss”, we wonder — is it feasible? While you can carry your office (your laptop) with you everywhere, a casual environment can distract you. Co-working spaces have got the vibes that keep you motivated. This results in more work, and hence, better productivity.

4. Services

Co-working spaces have got you covered even before you know they have. They have got a cafeteria, electricity supplies, meeting rooms, etc. Apart from this, the shared service model at Pannal lets you leverage your business — What does this model do? It lets you take a backseat and focus on your business development and core services, while we take care of the rest.

5. No Capital Cost

Literally, zero capital is involved in setting up the office space in co-working. All you have to do is pick the best plan,  and move in. That is to emphasize that it saves you from the hassle of picking the best office space and maintaining it afterwards.

6. Enhanced Productivity

While working from home or a café may seem apt, there comes a  time to move to a more professional workspace. Moving from your comfortable and cosy home might be a big step you take, here is something you would want to know– The vibes have an impact on you and your productivity level. When you are surrounded by enthusiastic, passionate people, you are more likely to give your best shot at every task.

7. Conduct Events

Events and meetings are a great way to meet new people, exchange thoughts, and move towards a productive path. And, what better place to conduct events than co-working spaces? Not only do they have dedicated meeting and event rooms, but they also have a professional set-up so you feel confident conducting events in co-working spaces.

8. Happier Employees

14% of employees at large companies use co-working spaces. This is a recent stat that shows us a glimpse into the benefits of coworking spaces. When you provide your people with a proper space to work in (add to it the quirky interiors),  it results in a  happier workforce. And, a happier workforce is the driving source of success, isn’t it?

The Bottom Line

Co-working spaces provide you with a robust environment to grow and leverage your business. We at Pannal, strongly believe you should focus on the development of your business and its core services, while we take care of the rest.

We strive to provide you with the best infrastructure and amenities to facilitate the growth of your business. Currently, we are operating Business Centre in Dehradun and Co-working Space in New Delhi, and soon we will be spreading our wings across the country!

Nov 20, 2022