We live in a world where optimization is a constant need for any organization whether old or new. Every now and then companies fall into capital crunch by increasing their fixed costs. One of those major fixed costs is renting or buying their own workspace etc.
Renting or having our own workplace is also of great importance but it can only make sense if the business we run is quite lucrative. After all, we are not here just to pay off bills with our hard earned living, right?
But, there is nothing to worry about.
Shared working spaces are the answer!!
Co-working Spaces are a great solution to the workspace problems. Many new start-ups and SMEs are moving into shared working spaces as the benefits are quite appealing. But to list down a few of the major ups, here they are:
1. Fixed Cost Reduction
As a business shares the workspace, it majorly saves up on the renting/hiring fixed costs. This is the most appealing benefit to the business owners. It saves a huge chunk and gives an opportunity to manage the leftover funds. And if at all they want to scale down the operations, the setup is will friendly and allows you to make changes according to your current need.
2. Great Working Environment and Networking Opportunities
For small business houses and budding entrepreneurs, it is a boon as they cannot afford a workspace but still need an environment which offers them a chance to live their dream without actually having to struggle through the process of achieving it. In addition to that, they can also capitalize on a huge pool of knowledge that their surrounding is and can be used it to connect to different entrepreneurs and business officials on a corporate and personal level.
3. Ergonomically Sound
Research says, if a workplace is ergonomically sound, it can reduce the stress levels by up to 30% and can drastically boost up the productivity. By this way, SME's facing the problem of designing an office and not be able to do a good job at it, can enjoy and work with a readymade setup, hassle-free.
4. Learning Opportunities
Co-working space gives you a great environment for learning and growth. Every other business owner working within the same premises are not just your customers or potential clients. They can help you with the basics regarding your business as they are doing the same thing i.e. managing. One can take advantage of this opportunity and capitalize on the benefits of their presence.
5. Facilitative Environment
While we give ourselves a chance to work in a shared space environment, we expose ourselves to a lot of facilities offered by the premises. Facilities like fitness arena, Gym, yoga centre etc. Along with this, technical facilities like copying machines, printers, scanners, availability of projectors in the meeting room etc. are also shared within the premises. Believe it or not, these are some of the major expenses incurred by an organization while trying to successfully run an office. And if not managed properly, some businesses find themselves experiencing working capital crunch.
6. Motivation to Outperform
Having a great environment around with people sitting next to you, achieving their lesser and greater dreams pushes one to reach their personal best. It motivates them to run a mile farther just to survive the race. This can turn good results into great results and thus justifies the decision to move into a shared workspace.
All these reasons are why organizations opt for shared spaces and don't get their own place to carry out the business operations. That day is not far when more businesses are going to realise and understand the importance of the concept and will soon start to capitalize on it.