Why Co-Working Spaces Aren't Just About Rent Anymore
Aside from price and convenience, co-working spaces offer a myriad of advantages to companies that go far beyond physical and logistical needs.
When the home office proved insufficient for freelancers and young businesses in need of a productive, creative, and cost-effective work environment, the concept of co-working was developed. What began as a haven for start-ups is now a magnet for corporates and established businesses. More businesses are recognising the benefits of co-working space and the fact that it has the potential to encourage growth as well as build a strong business network organically. Not only has this concept proven to be a game changer for young enterprises by providing infrastructure assistance and assisting them in gaining legitimacy, but it has also given the real estate industry in Pakistan a new facelift. Coworker has ushered in a substantial growth in the real estate market, with an increasing number of firms investing in this area.
A Brilliant Idea
A idea that was created for the convenience of start-ups has proven to be a win-win situation for the entire ecosystem, which includes real estate heavyweights, the start-up community, and even larger firms and multinationals.
Aside from the affordability and convenience, co-working spaces offer a myriad of advantages to companies that go far beyond physical and logistical needs. One of them is the chance to network with other startup owners, discuss mutual issues, and give empathy and support. Today, the concept of being surrounded by like-minded workers and developing a strong network is at the heart of co-working.
What Do People Actually Want?
According to a recent Harvard Business Review (HBR) poll, persons who operate out of co-working spaces have a flourishing level that reaches an average of 6 on a 7-point scale, which is relatively higher than the average for those who work in traditional office settings. Co-working spaces, as opposed to standard office facilities, have a non-conforming and easier to fit in attitude that makes the work environment less onerous. Co-Working spaces are thus immensely beneficial to the mental and emotional wellbeing of entrepreneurs who are working hard every day to see their businesses succeed. It also allows community members to engage in recreational activities and socialise, which is vital for rebooting and increasing productivity.
What do they have to offer?
In addition to the foregoing, practical benefits of co-working include flexible leasing options, free support staff, limitless access to recreational zones, and simple office upkeep. Co-working spaces provide a plug-and-play concept that fits any start-up, regardless of size or industry. It not only saves them time, but it also helps them to focus on other important elements of the business, such as driving growth, growing, and obtaining the right personnel.
Aside from providing basic amenities, luxury coworking spaces strive to fulfil the unique needs and work cycles of start-ups. To accommodate the lifestyles of young people, the goal is to make office spaces as inclusive as possible, with elements such as a gym, pet crèche, sleeping pods, and so on. It is therefore not wrong to suggest that co-working spaces recognise the obstacles of running and being a part of a start-up and are stepping up to compensate for them in their own unique ways.