Co-working spaces offer better economy to MNC’s.

Co-working spaces have begun to take on this role for small enterprises, entrepreneurs, and start-ups before the pandemic that forced offices to close and individuals to work from home. Co-working office spaces had many advantages, including being frequently crowded with people from all backgrounds who were all working in the same location. These locations were wonderful for networking and forming contacts in addition to the cost savings and flexibility for employees to work at their own speed and schedule. However, with the lockdown, the functioning of these spaces was brought to a halt, at least in the initial months, when people were stuck at homes. Moreover, there has been a noticeable shift in how people work with things opening up.

Co-working spaces were once only used by freelancers, budding entrepreneurs, and start-ups with constrained budgets. However, co-working spaces are also drawing in larger businesses due to their minimal CAPEX needs, reasonable rental options, and creative and collaborative workspace designs. The newest disruptors in town is MyBranch, which provides shared office space near me and co-working space in India. The company presently owns business centres with presence across PAN India and provides offices to companies of all sizes.

How Co-Working spaces improve MNC operations

Co-working spaces have the power to replace traditional working styles and expose employees to newer working patterns and different sectors of the economy. For consultants/freelancers and MNC employees to stay connected via video chats or attend webinars, shared spaces guarantee excellent internet connections, conference and meeting  rooms, and provide additional tech assistance. Due to this infrastructure, consultants and freelancers are drawn to such co-working spaces.

Many MNCs use freelancers as consultants to work on various projects for them; instead of working from their homes, these consultants may now collaborate with the MNC team and make the most of co-working facilities, where they can readily discuss ideas with their superiors in person. In this way, a co-working environment enables staff members and vendors to collaborate closely with their superiors and develop profitable relationships.

Modern co-working spaces breathe youth and life into the dull structures of a normal office space, which might be unappealing when compared to a regular office setup. The lack of recreational activities, a repetitive work schedule, and subpar infrastructure sometimes lead to unsatisfactory outcomes.

MNC employees typically have less options for rest and recreation in traditional offices. Along with providing flexible work conditions and social events for the team, co-working spaces enable the team to operate in a variety of places. Employee contentment and productivity significantly increase as a result. Many large firms find shared office spaces to be appealing due to the ready infrastructure, motivating work environment, and cutting-edge technology support, to name a few.

Imagine working in an environment where you may share a desk with a graphic designer or an artist, free from hierarchy, cubicles, and dress standards, where networking is encouraged and innovation is rewarded. These areas can greatly foster teamwork and information sharing in addition to increasing employee motivation and retaining workers for longer periods of time.

MNCs are shifting their preferences to shared working spaces as a result of rising office rents, protracted lease terms, and the poor quality of office spaces, and this figure clearly looks attainable, futuristic offices of the future.

The Current Scenario

The majority of co-working spaces are seeing a positive recovery, and most players are hopeful about the market recovering despite the minor disruption that the lockdown caused.

“Co-working spaces are doing well and witnessing robust operations now. For the co-working gamers, the post-lockdown scenario is opening up a slew of brand-new possibilities. Despite the fact that the work-from-home model would have been beneficial during the lockdown, many businesses may not desire it as a culture, and many business verticals and roles still call for people to work in an office environment. While working from home is possible, office space will still be necessary.

Even before the epidemic, many businesses struggled with the strain of lengthy, lock-in leases that required hefty security deposits and limited their ability to quickly adapt to changing economic conditions. Flexibility is essential now more than ever, and co-working spaces are best positioned to adapt and reimagine the future of work and workspace because of their innate flexibility and readiness to create value.

Top 5 reasons a Shared office spaces is perfect for your start-ups.

Gone are the days when coworking was viewed as a niche concept, mostly related to freelancers and shared desks. The most recent data show that there is a drastic increase in demand for coworking spaces. The significant increase in the number of start-ups using coworking spaces is one factor driving this trend. Following are few reasons why working from a shared office space can be ideal for your start-up.

1. Opportunities for Networking

It’s vital and worth a note that working from a coworking space is advantageous for both the business owner as well as the clientele. In order to mingle with like-minded individuals, trade experiences with professionals and entrepreneurs in their area, and find new clients, many people opt to work in these flexible workspaces.

As an entrepreneur, you will be surrounded by highly skilled individuals who are knowledgeable in a wide range of industries. This will enable you to develop deep business relationships that have potentials to develop into a long term profitable association.

2. Services & Amenities

The greatest coworking communities in the world equip their facilities with cutting-edge amenities and services that are intended to aid start-ups in growing. A good coworking community’s membership typically entails:

  • Meeting Rooms: For conference calls and meetings with new clients
  • Office Supplies & Amenities: Electric rise-fall desks, dry-erase walls, and office furnishings
  • Food and Beverages: Free fruit, coffee, and basic kitchenware like fridge and microwave

The maintenance will be handled by building management, therefore all of your services will be appropriately bundled into a single monthly cost. This not only combines monthly bills but also streamlines expenditures.

3. Convenience

Start-ups choose coworking spaces for another reason; they provide an alternative to the routine procedures of leasing an office. What if you could quadruple your business using the time and resources you currently spend on maintenance or office managers? Coworking office spaces give start-ups the chance to manage their limited resources skilfully by taking care of everything from electricity bills to property management, allowing them to focus solely on core business issues.

4. Flexibility

Start-ups frequently struggle to find a workplace that gives them the flexibility to increase their staff. Making a two-year office lease commitment is the last thing you want to do if you are a start-up wanting to increase your personnel in the coming months. This explains why more start-up businesses are moving into coworking spaces.

Coworking spaces give start-ups the flexibility they want by providing membership options that range from private offices to dedicated desks, especially in the early phases of growth. For instance, a business that has two or three employees at first might contemplate hot-desking, but as the team grows, it might decide to move to a tiny office.

5. Work-life Balance

According to recent surveys, full-time employees from all over the world struggle to strike a balance between their home and professional life. Start-up owners, entrepreneurs, and inventors continue to raise concerns about getting enough sleep or finding time for their loved ones due to the unrelenting pressure to scale their businesses.

Coworking places demands on participants to maintain a set work schedule. On your journey to start up success, there may be a few late nights, but at least you’re not working from a cramped home office where you might be interrupted by your dogs or household duties, right? Coworking is the ideal distraction-free setting where founders can separate their job from their personal life because there is enough space to stretch out and get work done.

6. Surround yourself with Positive Energy

Don’t undervalue how difficult psychologically starting a business may be. Many evenings will be spent working late while your friends and family are having fun, and there will be times when you doubt yourself, your business, and your mission. The best treatment for start-up blues is to surround yourself with intelligent, devoted, and hard-working people. It helps to always be reminded that no matter for any obstacle you’re encountering, someone else has probably already overcome them.

Coworking facilities are frequently found by start-ups to offer an exclusive support structure that enhances their business. With all the benefits that flexible working offers, it’s no surprise that more and more start-ups are eschewing the typical office setting. Coworking communities continue to support start-ups’ growth and success by providing access to resources for growth, like-minded businesspeople, and suitable facilities.

MyBranch provide shared office space near me.  Get in touch with our experts today, Call us on +91 8451999506

Managed Office Spaces in India

Co-working spaces are providing a new way to work, putting an end to the cubicle life. Workplaces are changing, primarily to meet the new demands of the way millennials approach work in the youngest start-up nation of the world. Traditional approaches to work have been hampered by a vacillating method of working. The demand for coworking space is on the rise as businesses today prioritise the customer experience, digital innovation, continuous improvement, operational excellence, and financial management. Co-working spaces are generating a community of passionate, cooperative people who are gathering, creating, building, and sharing their ideas and discoveries with the world. They serve as an oasis from the typical workplace and job routine.

The co-working facility is currently growing. Mr Narayan Bhargava who is CA by profession understood the complexity of the estate industry, as he had few bad experience working earlier while travelling. He discovered that from locating an office space to operating it, there were several inefficiencies that were costing organisations money, time, and manpower while diverting a lot of attention from their core businesses; as a result, something adaptable and flexible was needed. With a motive to run the office space as an outsourced service and to take over from the traditional ways to modern, Mr Bhargava with his team created the brand MyBranch, an office space solution a kick-start point for businesses.

MyBranch, India’s top managed office space and customized private office provider, is a pioneer in the field of office space solutions and is well known for developing ad hoc workplaces for big corporate names, emerging startups, and small businesses. MyBranch’s office spaces are fully managed and designed to meet the demand for shared flexible plug-and-work locations.

The idea of managed office spaces for rent, which has successfully and drastically changed workspaces around the world, is swiftly gaining traction in India. The idea of managed office spaces, which was first made popular by start-ups, has successfully expanded into a successful real estate business for its owners and has become an important component of strategy for its occupiers. In the near future, these workspaces are anticipated to quadruple each year.

As India’s gig economy gains traction, millennials—who make up 45% of the country’s work force—will increasingly have an impact on the workplace culture. India has been ranked as having the third-largest start-up ecosystem after China and the US with over 5200 start-ups. Start-ups will therefore continue to occupy desks in the shared workspaces. Additionally, businesses are choosing these coworking spaces due to their flexibility and the simplicity with which offices may be set up without facing any administrative challenges.

Rising factor for the managed workspaces

By late 2022, more than 16 million seats and approximately 9 million square feet of space would be needed, according to developers, who anticipate a large demand for coworking spaces. The following are the primary elements fuelling the expansion of managed workspaces:

  • Flexibility in work settings: Managed office spaces give employees the flexibility they need to work wherever they are without needing a personal workstation of their own, with various settings catered to different workstyles. Large corporations favour choosing flexible desks for their sales and branch sites since they require less capital expenditure and encourage more teamwork and efficiency. Additionally, cabins and cubicles, adaptable workstations, spaced-out seating that complies with safety requirements, including beanbags and couches, all contribute to creating an enjoyable experience for staff members of the organisation.
  • Networking opportunities: Utilizing managed workspaces gives access to like-minded individuals with whom teams may collaborate and develop their business’s great ideas, rather of just taking up space. Managed workspaces provide the perfect setting for effective meetings thanks to their cutting-edge technology and adaptable working circumstances. Teams can work together in these settings to generate creative ideas.
  • Attracts new talent: The shared workspace culture is unique, innovative, and very dissimilar different from a traditional office environment. Start-ups are modern businesses that cannot expand and function in solitary circumstances. They require a setting that encourages innovative and teamwork. Additionally, the shared workplace environments’ aesthetics and lively ambiance draw in and nurture original talent. The shared office spaces become a hub for businesses to acquire new talent as professionals and seasoned workers from various backgrounds converge there.
  • Preferred by the younger workforce: With at least 72% of founders under the age of 35, India has emerged as the youngest startup nation. As a result, millennials are an important demographic because they make up 50% of the globalised workforce and almost half of all Indians. They choose to work in shared or coworking environments because they are exposed to more job options, can network freely, and can connect with the community without being constrained by corporate limits. The popularity of managed workplaces will increase as the best talent breeds there because of how cool their offices are.

In India’s business hubs, managed office spaces near me have just started the journey. High office rents are forcing businesses of all sizes to reconsider their real estate strategies and switch to these modern offices instead of commercial facilities. The size, scope, and scale of managed office spaces will increase as a result of workspace operators’ capacity to innovate, rethink, and disrupt traditional office models to build solutions that would make future workspaces flexible, affordable, distinctive, and accessible to a broad population.