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The Post-Pandemic Surge: Unveiling the soaring popularity of Flex Space Industry in India

In the wake of the global pandemic, the way we work has undergone a significant transformation. Traditional office spaces have taken a backseat, giving rise to flexible office solutions that cater to the evolving needs of businesses and professionals. India, with its burgeoning entrepreneurial spirit and dynamic workforce, has witnessed a remarkable surge in the popularity of the flex space industry. In this blog, we will explore the reasons behind this shift and delve into the various office space solutions that are driving this trend.

The Rise of Flex Spaces:

The COVID-19 pandemic has significantly influenced the surge in demand for co-working spaces. The need for social distancing and remote work arrangements prompted businesses to seek flexible alternatives. Co-working spaces such as shared offices, managed offices, and virtual offices offer a safe and productive environment, equipped with necessary amenities and infrastructure. As organizations prioritize agility and cost-effectiveness, co-working spaces have emerged as a preferred solution to meet the evolving demands of the modern workforce.

Coworking Spaces: Fueling Collaboration and Community

Coworking spaces have emerged as the epitome of the flex space revolution. They provide a vibrant environment that foster collaboration, innovation, and networking. Entrepreneurs, freelancers, and startups find coworking spaces particularly appealing due to their affordable pricing and flexible terms. Additionally, these spaces offer amenities like high-speed internet, meeting rooms, and communal areas, creating a sense of community among coworkers.

Shared office space: Cost-Effective and Customizable

Shared offices have gained traction among businesses looking for cost-effective office solutions. These spaces allow multiple companies to share the same premises, reducing overhead costs significantly. With shared office space, businesses can enjoy the benefits of a professional work environment without the financial burden of long-term leases or infrastructure setup. The ability to customize the office space according to specific needs further adds to the allure of shared offices.

Managed office space: Convenience and Efficiency

For companies seeking a hassle-free office experience, managed offices or office space for rent have emerged as the go-to solution. These spaces are fully furnished and equipped with essential amenities, providing a turnkey solution for businesses. Managed offices are meticulously designed to enhance productivity, with services like IT support, housekeeping, and reception services taken care of by the space provider. This allows businesses to focus on their core operations while enjoying a seamless office environment.

The Virtual Advantage: Virtual Office Spaces and Lite Offices

In an increasingly digitized world, virtual office have gained immense popularity. These spaces provide a professional business address and communication services without the need for a physical office. Virtual offices offer mail handling, call answering, and meeting room access on-demand, enabling businesses to establish a presence while minimizing costs.

Lite office space, on the other hand, cater to the needs of small businesses and startups requiring minimal workspace. These compact offices provide a dedicated space for focused work while still enjoying the benefits of shared amenities and community interaction.   

The Indian Perspective: Statistics and Trends

India has witnessed a remarkable surge in the flex space industry, propelled by the changing work dynamics and entrepreneurial spirit of the nation. According to a recent report by JLL India, the flexible office space segment is expected to grow at a compound annual growth rate (CAGR) of 15-20% in the next three to four years. It is estimated that by 2025, flexible spaces will account for 5-10% of the total office stock in India.

According to a joint report by Colliers and Qdesq the flex market in India is expected to cross 60 million in the metro and non-metro cities by 2023. The demand for the flex space is accelerating due to establishment of e-commerce, IT-BPM and consulting companies. In the metro cities there is high demand of flex spaces and the metros account for 88 percent of the flex space.

Major cities like Bengaluru, Mumbai, and Delhi-NCR have become hotspots for flex space providers, with an increasing number of professionals seeking coworking spaces near them. This trend is not limited to the metropolitan areas; secondary cities like Pune, Chennai, and Hyderabad have also witnessed a surge in demand for flexible office solutions.

The flex space industry in India has witnessed a meteoric rise post-pandemic, driven by the need for adaptable and cost-effective office solutions. Coworking spaces, shared offices, managed offices, virtual offices, and lite offices have emerged as the preferred choices for businesses and professionals seeking flexibility, community, and convenience. With the industry expected to grow steadily in the coming years, the Indian market offers immense opportunities for both providers and users of flexible office spaces.

Whether you’re an entrepreneur looking for a collaborative environment, a business seeking cost-effective solutions, or a professional wanting a virtual presence, the flex space industry with MyBranch as the leading player in India has the perfect office solution for you. Embrace the new era of work and explore the plethora of options available in this dynamic and evolving landscape.

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Benefits of a Virtual Office for GST Registration!!

In order to keep up with the fast-paced nature of today’s business world, many entrepreneurs and small business owners are seeking flexible and cost-effective ways to manage their operations. Recently, virtual office rental has emerged as one such solution that has become increasingly popular.

With Virtual Office Space for rent, businesses can optimize their operations by streamlining costs and enhancing productivity. This flexible solution enables companies to expand their reach and establish a professional presence in multiple locations, all while benefiting from services like mail handling, phone answering, meeting room access, and dedicated support from a professional team. Embracing Virtual addresses empowers businesses to thrive in today’s dynamic and interconnected world, unlocking new opportunities for growth and success.

Additionally, India has introduced Goods and Services Tax (GST), which requires businesses to register for GST if their annual turnover exceeds a certain threshold. Registering for GST can be difficult for businesses that do not have a physical presence in Mumbai. A virtual office address is especially useful in this case, as the company can register for its GST using the virtual office address.
Virtual Working Space offers a variety of administrative support services such as mail handling, phone answering, and professional business addresses, all without the need for a physical workspace. Choosing virtual office rental means businesses can establish a professional presence in desirable locations at a fraction of the cost. You may be thinking what are the benefits of virtual office space for GST registration & how does it help you?? Let’s clear out all your queries:

  1. Compliance with GST Laws: Registering for GST using a virtual office address enables businesses to comply with GST laws without the need for a physical office location. This ensures that businesses can adhere to regulatory requirements and conduct their operations smoothly and legally.
  2. Expansion Opportunities: Using a virtual office address allows businesses to expand their reach and establish a presence in different cities or regions without the cost of setting up physical offices in each location. This opens up opportunities for businesses to target new markets and grow their customer base.
  3. Streamlined Document Management: Virtual office providers typically handle mail and documents on behalf of the business. This ensures that important documents, such as NOC, rent agreement, and utility bills, required for GST registration are managed efficiently, reducing administrative burden for the business.
  4. Prestigious Business Address: A virtual office allows businesses to establish a presence in prime locations with prestigious addresses, even if they don’t have a physical office there. This enhances the brand reputation and creates a professional image in the eyes of clients, partners, and investors. Having a prestigious business address can instill confidence and trust in potential customers, leading to better opportunities and business growth.
  5. Phone Answering Services: Virtual offices often offer dedicated phone answering services. Trained professionals answer calls on behalf of the business, ensuring that no important call is missed. This creates a seamless communication experience for clients and customers, giving the impression of a well-organized and responsive company. By having professionals handle phone calls, businesses can focus on their core activities without distractions.
  6. Flexibility to Work Anywhere: Whether it’s from the comfort of home, a coffee shop, or while traveling, entrepreneurs can choose a work environment that suits them best. This flexibility enhances productivity by allowing individuals to work in spaces where they feel most comfortable and inspired.
  7. Increased Productivity and Work-Life Balance: Choose when and where to work, this mobility allows entrepreneurs and freelancers to manage their work efficiently while on the go or from the comfort of their homes. It also eliminates the need for daily commutes, leading to increased productivity and a better work-life balance.

In conclusion, embracing a virtual office space for GST registration offers numerous advantages for businesses seeking to optimize their operations, establish a professional presence, and comply with GST regulations. With the flexibility to work from anywhere and access to essential services like mail handling and phone answering, businesses can streamline costs, enhance productivity, and maintain a better work-life balance. Moreover, the ability to expand their reach and establish a prestigious business address in multiple locations provides new opportunities for growth and success in today’s dynamic and interconnected world. By utilizing virtual addresses and administrative support, businesses can thrive and stay competitive, harnessing the power of a modern and efficient business solution. Embracing the benefits of virtual office space unlocks a path to seamless GST registration and empowers businesses to navigate the evolving landscape of the business world with confidence and agility.

Frequently Asked Questions:

1. What are the supporting documents for GST registration?

Checklist of documents required for GST registration:

  • No Objection Certificate (NOC)
  • Rent Agreement
  • Utility Bill
  • Proof of Identity
  • Proof of Business

2.) Is the virtual office address legal?

Yes, virtual offices are legal in India, but compliance with regulations is essential.

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7 Reasons People Flourish in Coworking Office Spaces

In recent years, coworking has gained popularity as an alternative to working in coffee shops and home offices in which 80% of members become healthier, 68% of members are better focused, and 64% of members complete tasks in a timelier manner. Often, coworking spaces are shared offices where people from different occupations and backgrounds work together. According to research, people who work in Shared office space experience a higher level of thriving and professional success compared to those who work in traditional office spaces. They provide an environment conducive to creativity and collaboration, where individuals can share ideas and learn from each other. Additionally, coworking spaces provide a more flexible and comfortable work environment. Unlike traditional offices, coworking spaces often offer open layouts, communal kitchens, coffee bars, and lounge areas, allowing individuals to choose Shared office space for rent and also a variety of workspaces and settings based on their preferences. This flexibility can help increase productivity, motivation, and work-life balance.

Let us dig into the reasons behind a Happy & successful working employee in a coworking office space:

  1. Networking Opportunities:
    • Networking opportunities in coworking spaces can be incredibly valuable for professionals.
      • have different skill sets, expertise, and perspectives. It can lead to collaborations, partnerships, and the exchange of knowledge and ideas.
    • Many coworking spaces organize networking events, workshops, and social gatherings specifically designed to facilitate connection and collaboration among their members.
    • Casual conversations in common areas shared amenities, or networking lounges can lead to unexpected connections and potential business opportunities. Serendipitous encounters are often a source of inspiration and can spark new ideas or collaborations.
  2. Sense of Belonging:
    • Sense of belonging is a fundamental human need, and coworking spaces can provide a strong sense of belonging to their members
    • Coworking office spaces foster a sense of community by bringing together individuals from various professional backgrounds. They can engage in conversations, collaborate on projects, and support each other’s growth.
    • Whether it’s a focus on entrepreneurship, creativity, sustainability, or social impact, being surrounded by people who have similar passions can create a sense of camaraderie and belonging. Members can find validation, support, and encouragement as they pursue their own professional journeys.
    • They promote an atmosphere where everyone feels welcome and respected, regardless of their background, profession, or level of experience.
    • This collaborative culture reinforces the sense of belonging as individuals feel part of a larger community working together towards common goals.
  3. Increased Productivity:
    • Working from home or in a traditional office can be rife with distractions. In a coworking space, members often benefit from a quieter work environment, fewer interruptions from coworkers or family members, and fewer distractions from household chores. This can lead to increased focus and productivity.
    • The potential for learning and collaborating can stimulate creativity, inspire innovation and lead to increased productivity.
    • Coworking spaces offer a variety of workspace options that enable members to work based on their preferences and needs.
    • Having all the necessary resources available like high-speed internet, printers, scanners, meeting rooms, kitchen, and more on-site can simplify the work process for members, enabling them to focus more on their work and less on logistical tasks.
    • Many coworking spaces offer 24-hour access, allowing members to work according to their own schedules. This flexibility is particularly useful for members who require a flexible work schedule or have global clients, leading to improved productivity.
  4. Flexibility and freedom:
    • Co-working spaces provide employees with the freedom to choose where, when, and how they want to work, allowing them to tailor their environment to their needs
    • This flexibility encourages creativity and innovation, as individuals can work in a setting that best suits their preferences and working style.
    •  Additionally, co-working spaces offer the freedom to interact and collaborate with a diverse community of professionals, fostering networking opportunities and the exchange of ideas
    • The ability to work remotely when needed also provides a sense of autonomy and work-life balance, contributing to personal happiness and job satisfaction. Overall, flexibility and freedom in co-working spaces empower individuals to take control of their work and create an environment conducive to their success.
  5. Access to Resources:
    • Co-working spaces provide individuals with access to a wide range of resources that enhance productivity and support their work needs. These resources include community management, which ensures a well-maintained and organized workspace.
    • Additionally, co-working spaces often provide amenities such as coffee shops, which offer refreshments and a convenient place to socialize or take a break. Private office options are also available for those who require more privacy or a dedicated work area.
    • Furthermore, optimized co-working spaces may feature shower facilities, social spaces, fitness studios, natural lighting, acoustic phone booths, and standing desk spaces, all of which contribute to a comfortable and efficient work environment.
    • These resources enable individuals to work in a way that best suits their needs and preferences, ultimately fostering productivity and job satisfaction in co-working spaces.
  6. Collaboration Opportunities
    • Collaborative workspaces, such as co-working spaces, provide ample opportunities for collaboration among individuals from different companies or backgrounds
    • These spaces offer a conducive environment where professionals can connect, network, and collaborate on various projects and ideas.
    • Benefits of collaboration in co-working spaces include strengthened team engagement, improved meeting efficiency, and increased collaborative productivity.
    • By working alongside like-minded individuals, professionals have the opportunity to share knowledge, skills, and experiences, leading to enhanced creativity and innovation
    • Collaboration in co-working spaces fosters a sense of community and provides a platform for individuals to build valuable professional relationships that can lead to new opportunities and partnerships
  7. Professional Development
    • Professional development in co-working spaces is greatly enhanced by the flexibility and freedom they offer.
    • Co-working spaces provide individuals with the opportunity to work according to their own schedules and preferences, allowing them to focus on tasks when they are most productive.
    • This flexibility enables professionals to engage in continuous learning and explore new areas of interest without the constraints of a traditional office environment.
    • Additionally, coworking office spaces which is also known as flexspaces foster networking and collaboration among individuals from different backgrounds and industries, creating opportunities for knowledge sharing and skill development.
    • The vibrant and dynamic nature of co-working spaces encourages professionals to expand their horizons, stay updated with industry trends, and develop valuable connections, ultimately contributing to their overall professional growth and success.

In conclusion, flexspaces offer numerous benefits for individuals, freelancers, startups, and small businesses. They provide a cost-effective and flexible alternative to traditional office space solutions, offering a productive and collaborative work environment. Coworking spaces promote networking opportunities, increase productivity, and enhance work-life balance. They also foster a sense of community and provide support for individuals. With features such as stable connectivity, enhanced productivity, reduced anxiety and loneliness, and well-designed environments, coworking spaces have become increasingly popular among remote workers. Overall, working in a coworking space can contribute to professional success through increased productivity, collaboration, networking, and access to shared resources and amenities.

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Exploring the Next Frontier: Future of Co-working offices in India

In recent years, co-working spaces have revolutionized the traditional office landscape. With their flexible and collaborative work environments, co-working offices have gained immense popularity, catering to the needs of entrepreneurs, freelancers, SME’s and remote workers. India, with its burgeoning startup culture and a thriving freelance ecosystem, is witnessing a rapid growth in the co-working industry. This blog explores the future of co-working offices in India, backed by statistics, trends, and insights.

Statistics on Co-working Offices in India:

Market Size and Growth: The co-working market in India has experienced substantial growth, showcasing its potential and importance in the evolving work landscape. Consider the following statistics:

  • According to a report by JLL, the co-working market in India is projected to reach a valuation of $2.2 billion by 2023.
  • Medium- to large-sized companies are mostly looking at increasing the share of flexible spaces as part of their overall office portfolio over the next two years. We also expect small companies to grow their share of flexible spaces in office portfolio to at least 25%.
  • The sector witnessed a compound annual growth rate (CAGR) of 42% from 2016 to 2020, highlighting its rapid expansion.

Based on previous data from 2018 through 2022, the total number of coworking spaces is set to reach nearly 42,000 worldwide by the end of 2024. Moreover, the coworking market has experienced rapid growth, and it is projected to reach a global market size of USD 50,150 million by 2028, with an anticipated compound annual growth rate (CAGR) of 9.6% from 2023 to 2028. In 2020, there were 19,421 coworking spaces worldwide, and this number is expected to increase to 41,975 by 2024. This substantial expansion reflects the increasing popularity and demand for flexible workspaces.

Demand and Occupancy Rates: The demand for co-working spaces in India has been driven by several factors, including the rise of startups, freelance professionals, and small and medium-sized enterprises (SMEs). Consider the following insights:

Co-working spaces consistently achieve high occupancy rates of 80-85% in major cities due to their appeal to modern professionals. With flexible rental options, cost-effectiveness, and shared amenities, shared office spaces provide an adaptable work environment. They foster collaboration and networking, catering to the evolving work culture centred on remote work and freelancing. Additionally, their central locations near business districts and urban amenities enhance convenience. The strong demand for co-working spaces stems from their ability to meet the needs of individuals and businesses seeking flexible, community-driven workspaces that promote productivity and innovation.

Advantages of Co-working Spaces:

Co-working spaces provide numerous benefits that have contributed to their popularity among professionals. Some notable advantages include:

Cost Efficiency: Co-working spaces offer cost-effective solutions compared to traditional office setups, allowing businesses to save on infrastructure costs and long-term leases.

Networking Opportunities: Co-working spaces foster a vibrant community of professionals from diverse backgrounds, enabling networking and collaboration.

Flexibility and Scalability: Co-working offices provide flexible membership plans, allowing individuals and businesses to scale their workspace as needed.

The idea of co-working spaces, exemplified by companies like MyBranch, has significantly transformed the business landscape worldwide. The concept of flexible workspaces, where businesses can thrive in a collaborative and dynamic environment, has gained traction and become an integral part of modern work culture. By embracing this idea, businesses can not only optimize costs but also leverage the benefits of networking, idea exchange, and collaboration that coworking spaces offer.

Trends and Insights:

The future of co-working spaces in India heavily relies on the integration of technology to enhance the overall experience. Some key technological trends include:

Smart Building Systems: Implementing intelligent building systems with automated access control, environmental controls, and energy-efficient features.

Flexibility for Corporates: Co-working spaces offer corporates the flexibility to establish satellite offices or project-based teams without the need for long-term commitments. This allows them to expand their presence in new markets or quickly adapt to changing business needs.

Collaboration and Innovation: Managed office spaces foster a collaborative environment that encourages cross-industry interactions, knowledge sharing, and innovation. Large firms can benefit from the diverse community within co-working spaces, leading to enhanced creativity and problem-solving.

IoT Devices: Utilizing Internet of Things (IoT) devices to enhance workspace management, optimize resource utilization, and provide personalized experiences.

Mobile Apps: Developing mobile apps that allow seamless booking of workspaces, access to amenities, and community engagement.

Remote Work and Hybrid Work Models: The emergence of remote work trends has had a significant impact on the demand for co-working spaces. As more individuals and companies embrace remote work arrangements, co-working offices provide a professional work environment and opportunities for networking and collaboration. The future will likely witness the integration of co-working spaces into hybrid work models, accommodating both remote and in-person work.

Niche-focused and wellness-oriented Spaces: As the co-working industry matures, niche-focused spaces catering to specific industries or demographics are gaining traction. These specialized co-working spaces provide industry-specific amenities, networking opportunities, and tailored support. Additionally, wellness-focused co-working spaces incorporating features like meditation rooms, fitness facilities, and healthy food options are becoming increasingly popular, addressing the holistic well-being of professionals.

Among the players in the co-working industry, MyBranch stands out as a prominent provider, specifically targeting large firms, especially in metro cities. MyBranch recognizes the evolving needs of corporates and enterprises and aims to provide exceptional office spaces tailored to their requirements.

With a focus on quality, convenience, and innovation, MyBranch creates workspaces that cater to the unique demands of large organizations. By offering customizable office layouts, advanced technological infrastructure, and premium amenities, MyBranch aims to provide corporates and enterprises with an environment conducive to growth, collaboration, and success.

The future of co-working offices in India is poised for brilliance, revolutionizing the very essence of work and collaboration. With an ever-expanding horizon of flexibility, these spaces have become the indisputable haven for ambitious entrepreneurs, dynamic startups, and intrepid remote workers. By harnessing the power of cutting-edge technology, embracing the sweeping tide of remote work trends, and embarking on a relentless pursuit of innovation, co-working offices are destined to soar to unprecedented heights of success and popularity in India. As this thriving industry continues to evolve, it will ignite an inferno of creativity, fuel the engines of productivity, and forge unbreakable bonds of collaboration, propelling the entrepreneurial ecosystem towards an awe-inspiring future.

MyBranch stands out as a prominent player in the coworking industry, providing businesses in India with exceptional office spaces and fostering an environment conducive to growth and success. With their commitment to quality, convenience, and innovation, MyBranch paves the way for businesses to thrive, collaborate, and expand their horizons in a rapidly changing business landscape.

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Lite Managed Office Space is an Ideal Office Space Option for Brands to Expand Small Businesses

MyBranch-Lite Managed Office Spaces

The needs of each business organization differ from others. To a large extent, the business requirements of a company depend on its size. As the needs and budget of small-sized enterprises are lower than the larger ones, they operate with a limited budget and manpower. Lite-managed office spaces constitute an ideal option for small-sized business organizations that seek an office for rent.

A longside managing day-to-day operations, lite-managed office spaces also provide the ideal platform for small business organizations to grow and expand their business. Read on to know how such spaces enable small-sized business organizations to achieve this objective.

What are managed office spaces?

A managed office space is a commercial space that is purpose-built as a space for running an office. To its prospective occupants, it gives them control to manage their space according to their needs. That is to say; perspective occupants can utilize their share of empty office space in a managed office space according to their requirements.

In managed spaces, there are different creative layouts. Due to this feature, they are flexible and suitable for addressing the operational needs of small business enterprises. A managed space lets small business owners choose the size of their office space according to their manpower.

A managed office for rent is also called a serviced office. It can be either a single office or the whole floor. Either way, it helps a small business organization grow and expand its business.

Ways in Which a Lite Managed Office Space Helps a Small Business Organization Expand Its Business

From flexibility to location advantage, a serviced office may prove to be useful to you in many ways. If you run a small business organization, such a commercial office space can serve you in the following ways.

1. Flexibility

If you are an entrepreneur, you’d know about the size of the space you need for your company better than anyone else. As regards the suitable space for your requirements, you may either need enough space to just power on a laptop or a desktop. Or, you may need an entire floor to accommodate several staff members. A managed space can help you address both these needs with finesse. With this option, you get a flexible solution to decide on the size of your workspace according to your obligation.

2. Networking

Networking is the secret mantra for success in the world of business these days. From supplying clients to fulfilling recruitment needs, networking can benefit your business firm in many ways. A managed commercial office space provides the best opportunities for networking.

3. Scalability

Oftentimes, scalability can be a far-fetched idea in a typical office setting. This is because changing the size of your office can be a challenging task in such an arrangement. In contrast, a managed office space lets you arrange the size of your work area. Thus, a managed space is ideal for office use if you have plans to either upscale or downscale your business.

4. Enhanced Productivity

Employees show an elevated level of productivity when putting their best foot forward in their official tasks or assignments. A lite managed office space involves essential tools and IT resources.

While employees can provide more output in a lesser duration by using the tools, you can monitor the performance of the employees of your organization with the help of IT resources. As all their activities are well tracked, employees or staff members are more likely to respond affirmatively and comply with the set rules and regulations of your company.

5. Space for Conferences and Corporate Meetings

Conducting conferences and corporate meetings are imperative for running a business organization. Arranging separate cabins or rooms for these activities can maximize your expenses. Such cabins are readily available in a managed space. You can either have such cabins on rent for a few days or weeks, or months, depending on your business obligations.

6. Better Communication

Remote work culture has emerged as a new norm in the post-Covid-19-pandemic phase. No matter how suitable it is for managing your work-related activities, you will need a physical address for communication. If you do not already have one, you might want one without spending a hefty amount of money. Taking an office for rent is a smart solution for this requirement. You can choose one in a prime location, depending on your budget.

9. Cost-effectiveness

Unlike a self-owned space, a managed space doesn’t give you the worry of allocating funds separately for housekeeping or energy bills. You can leave it up to your managed office space supplier to take care of these expenses. All you need to do to can enjoy the available facilities is pay a monthly fee. Aside from letting you heave a sigh of relief, this arrangement can help you save money and cut down your expenses in the long run. It will pay you dividends, especially if you have a tight budget.

Conclusion

If you have a dynamic and scalable business, you’d hardly find a better option than a managed space. A permanent space may have its share of advantages but the flexibility that a managed space makes it the real deal. If you own a small business organization, investing in a managed commercial office space can prove to be a profitable deal as you can utilize it to grow your business in the above-mentioned ways.

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How Shared Office Spaces will help you achieve your professional goals in 2022

MyBranch – Shared Office Space

In recent years, there has been a rise in the popularity of using shared office spaces. But it is still a new approach to running business operations for many companies. A shared office space differs from traditional workspaces in many ways. Apart from being well organized, the former has well-distributed spaces compared to the latter. Plus, they also have other advantages that give the client companies a competitive edge.

In 2022, the world is in a post-Covid-19 pandemic phase. A lot has changed in the last two years as companies, especially small business organizations, have found new ways of using shared office space. Here are some ways in which it will help you achieve both your professional and personal objectives in the current year.

1. Low operational costs

Just like other business owners out there, you would also want a huge space for your company. Generally, such spaces have an exorbitant rent. Thus, you would need to maximize or expand your budget to rent such a space. It can be a challenge for you if you have low capital.

Shared office space for rent is a low-cost option with which you can better manage your expenses without any financial liability or strain. By paying monthly rent, you will get coverage for furniture, equipment, fire insurance, and other aspects.

2. More opportunities for networking

Shared office spaces have the best environment for mutual interaction. This is because, in such spaces, employees of different business organizations operate under a roof. From brainstorming to collaborations and lead generation, coworking spaces open up new avenues for networking. More networking opportunities in coworking spaces play a vital role in taking a company forward with new ideas and higher revenue outcomes.

3. Higher efficiency, creativity, and productivity

Gone are the days when the cubicle mindset used to define the professional environment in corporate workplaces. Companies are adopting a more open-minded and flexible approach to conducting business activities these days. The majority of them have already embraced the mindset of working remotely and in coworking spaces.

There will be further growth in this trend towards the end of 2022 and the next few years down the line. It is expected to create a feel-good atmosphere that will help the staff members of business organizations to elevate their level of productivity with a touch of creativity.

4. Effective staff discipline

Minimized operational costs and freedom from daily commuting are the two major advantages of running a company remotely. However, it creates obstructions and prompts staff members to play by their own rules to the extent that they start doing things that go against the set rules. If such things happen multiple times, it can negatively impact the discipline of a workspace. Shared office spaces can help prevent it.

At a shared office space, staff members get a congenial and professional atmosphere in which they can focus on their job at hand in the best possible manner. Its working atmosphere is intermediate to remote working and the cubicle mindset. As a result, they get rid of the caged feeling of the cubicle mindset and also become more accountable. This makes them more likely to comply with the set rules and regulations.

5. More accountability

Most clients prefer face-to-face communication in meetings to make an informed business decision. While you can rent rooms for conferences and meetings on an ad-hoc basis, having a shared workspace for business communication builds a positive impression. Once you are able to build a solid impression, you will find it a lot simpler to win both their trust and confidence. Nine out of ten clients trust those businesses that have a physical address.

6. The Better balance between work and life

Shared office spaces have food and stocked pantries. By renting a shared workspace, you can get rid of the worry of spending on these items separately. Also, the employees of your company can utilize the ready-made arrangements of such a space to destress. The availability of food and arrangements to destress will give your employees a sense of satisfaction to keep them motivated mentally. It helps them strike the right balance between work and life.

Another aspect that also helps employees strike a balance between work and life is the location and transportation facilities of these spaces. These aspects make commuting simple and easy for employees and also contribute to the balance between their professional and personal lives.

7. More flexibility to the work schedule of employees

When you search for coworking spaces with queries like “shared office space near me,” you may do so either with a long-term or a short-term plan in mind. You can choose a space based on the size of the workforce of your company, their working hours, and other aspects.

Whether your employees work in day shift or night shift, you can choose your space according to your needs. You can decide on renting a space for a few months or even years. This will add more flexibility to your approach of renting a shared space for your professional needs.

Final thoughts

Shared office spaces have flexibility which makes them ideal for both the short-term and long-term goals of business owners. By taking such a space on rent, you can benefit in the above ways. You find out information about shared workspaces nearby your location by searching with relevant queries like “shared workspace near me” and other such queries.

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Coworking Companies surging Charges up to 15%

The business wheel has started rolling faster post all the hurdles. Work schedules have almost gotten back to normalcy. However, the working styles have seen a change that is here to stay. Working from anywhere, anytime is sighted to be the most preferred way of getting things done.

Flexible working environment as it is known now globally; office space industry has grown hugely; especially in India the competition is getting narrower with each day.

Rentals of these coworking spaces are increasing as multi factors are contributing to this price rise. Right from the reality markets across the nation to the costs of construction materials and other inputs related to office space creation have gone up in their valuation.

On the other hand; demands of coworking spaces and its amenities have witnessed great leap in demands. This upward movement importantly hasn’t been limited to the metro cities alone; as high numbers of office space enquiries are rooting in from tier: 2, 3 and 4 regions.

Over the last couple of quarters there is a direct escalation in the fit-out billing range as every segment of setting up an office space has become expensive. The overall rentals are estimated to increase by 10-15%.

On the demand side; the takers are keen in having a quick process and clarity in the rental agreement. Businesses are open to associate with a coworking space operation that offers more than just the office space. Here’s where MyBranch scores; as it is an Office space solutions provider spread across 50+ Indian Cities; offering customised office spaces as per the customer’s requirements.

“The price surge in the co-working industry is an inevitable change and it should be taken as a reality in connection to the futuristic developments including enhanced services and evolving co-working spaces requirements. At MyBranch we assure quality services with 100% customer satisfaction and continue to expand to 100 cities.”

Kushal Bhargava, Co-Founder MyBranch

There are office categories such as Shared Office Space, Managed Office Space, Lite office space that are greatly received. The demands are surprising coming from smaller cities as businesses are looking push their presence and expand. 

MyBranch is the first office space provider to have a single (invoice) billing for all the office space services. The brand has marched forward with a super combo of managed-lite office space which will be handy for branded businesses to have limited office spaces in their preferred locations.

Tracking the future of coworking industry it has become a necessity that the rental charges increase. MyBranch following the industry trend will be revising its office space rentals soon.

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Why India Fits In Coworking Culture?

Start-ups are certainly the community, driving expansion of flexible workspaces in India, but in 2019 we’re witnessing a much more significant and widespread shift in the working culture.

For instance, coworking spaces are no longer just used by small firms as big companies have embraced the shared workspace concept. We believe that big corporates will soon embrace a coworking strategy across the board. This will not just reduce costs but also work well with young, passionate, and creative people to foster development of bigger, greater, and more inventive ideas. Simply said, every employee feels better about his/her job if working conditions deviate significantly from the usual norms.

In the coming years, India is going to become one of the biggest markets for coworking spaces, and by choosing Shared office spaces, there is a significant change in the nature of the workplace. One is no longer constrained by exorbitant rents, lengthy leases, or security deposits. The mind is now free to consider bigger concepts.

This also enables that one does not have to accept systems and cultures that restrict creativity in order to thrive. Small enterprises now; have more opportunities than ever to grow. Going to work these days doesn’t just involve paying the mortgage and staring onto a computer screen. It’s about pushing boundaries, working in an environment with like-minded individuals, making friends, saving time and money, and, fun atmosphere at work of course.

The rise of more independent professions like freelancers, consultants, and start-ups has been accompanied by a change in tastes of the young workforce.

Co-working managed office spaces near me have long been popular in metro areas, and the pandemic only further increased this popularity. Mr. Bhargava, the founder of MyBranch, explains, “Many professionals choose such locations since they provide all office amenities for a fraction of the price and with less risk of responsibility.

Demand for co-working spaces is anticipated to increase due to the rising tendency of start-ups becoming unicorns. Operating out of co-working facilities can be advantageous for big businesses and corporations as well. The epidemic has highlighted the necessity of decentralising activities in order to prevent interruptions in the future and maintain company continuity.

By creating co-working spaces across the nation to entice workers from different regions of the country, businesses may also access a broader and more diversified talent pool.

What are the main selling points for these shared workspaces today? In contrast to an office lease, which has a lock-in duration, they give flexibility in terms of tenure and rentals. Operators also provide daily and usage-based plans.

Co-workers benefit from the completely equipped and functional co-working spaces because they don’t have to wait or spend money on fit-outs. The majority of coworking businesses operate internationally and have sufficient foreign experience to compete in the Indian market. They have the necessary safeguards for network and data security. Their facilities are fully outfitted with cutting-edge telecommunications technology, firewalls, and physical hardware to prevent any data breaches, as well as project management systems to ensure smooth job continuation. The utilisation of current technology increases operator trust.

Occupants of co-working spaces are demanding more health and safety precautions because they want to be sure that their staff are protected from any potential outbreaks. “Companies now recognise that their most valuable resource are their employees and that they must respect their needs and preferences.

The continuous demand for customised workspace design requirements by large firms, desire for satellite offices, and preventative health approach by businesses, and increased focus on technology are a few themes that will rule the co-working market this year.

According to Mr. Kushal, co-founder of MyBranch, who is commenting on the sources of demand for shared workspaces in the upcoming quarters, “Demand will be primarily driven by consultancy, IT, and e-commerce enterprises that are creating many satellite offices in metros. According to estimates from the industry, demand for co-working spaces has already increased by between 80% and 90% from pre-Covid-19 levels.

Now, instead of being just functional, the workplace is more productive and experiential, and one such big initiative for office space is taken by MyBranch. This suggests that the future of this modern asset class is more promising. Smaller firms lack the resources necessary for the industry to scale up on a solid base. Because the strategy operates on a building scale, consolidation has therefore become necessary.

Co-working has successfully transformed the commercial real estate (CRE) sector by capitalising on the idea of the shared office workplace. Therefore, it wouldn’t be an overstatement to say that the best is yet to come for a category that is still in the early phases of development given the strong demand and stimulus that it has been able to amass.

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How MyBranch differs from Other Office Space Solutions in India?

Coworking facilities are becoming more and more common in India. The demand for coworking spaces is increasingly being driven by large corporations, followed by SMEs and start-ups. Among these businesses, MyBranch has made an effort to bounce back.

The coworking company has multiple locations across India. Despite issues with the global market, MyBranch has been able to establish a niche in India and develop a solid brand identity. According to Mr. Bhargava, the founder of MyBranch, the major differentiators for MyBranch India include determining the requirements of start-up companies and fostering creativity through a variety of in-person events, amenities, and activities.

Following are the reasons why MyBranch counts as differentiation factors in the coworking space

1. Understanding Business Behaviour

“As opposed to a standard office space, we offer medium and large-scale corporations flexible workspaces with necessary amenities at a competitive price.

MyBranch is able to obtain special insights into how businesses and their employees are evolving because of its global presence and diverse membership base.

2. Cost-Effective Workspaces:

“MyBranch enables businesses to lock in expenses for increased capacity based on forecasts for the future, allowing for the elasticity of occupancy in tenure and size, and decrease in costs associated with leasing conventional real estate.”

3. Fuelling Creativity and Invention:

Teams’ creativity and innovation are boosted by a collaborative work environment.

Additionally, employee productivity and retention are positively impacted. Additionally, a well-designed environment boosts productivity and aids in attracting or keeping talent.

4. Diversity of Co-workers:

MyBranch, an operator with a global presence, offers businesses access to a vast network of shared office spaces. Technology has made it possible for businesses to hire talent from all over the world, and professional coworking gives many of these remote teams and people a place to call home.

5. Better Talent Retention:

MyBranch members enjoy unmatched perks and networking opportunities. “They are an exceptionally appealing workspace to work out of because of the hip ambiance and contemporary attitude we take to the notion of work. This is what has caused many businesses to occupy our spaces because they want to employ top people who are youthful and devoted to their jobs in the greatest workspaces.

The head of MyBranch India stated that these advantages made coworking an appealing idea for businesses in India, where millennial make up 33% of the population and 46% of the work force.

6. Designed for Specialists Projects:

Companies frequently employ coworking spaces for multidisciplinary, confidential, time-sensitive, or transient specialised project teams. Coworking spaces are a natural opponent for these teams because they promote a climate that is creative and active, which is perfect for this purpose.

7. Facilities and Amenities:

MyBranch takes great pride in its unmatched services and amenities. Every site has a committed community team that works to promote member networking, participation, and collaboration. By giving them the greatest on-the-ground work experience, they help to create a wider community that promotes collaboration and fosters ties between its members.

8. Flexible Tariffs:

 “As opposed to a traditional office space, they offer medium and large-scale corporations flexible workplaces with cutting-edge amenities at competitive rates. They also give customers the choice and freedom to establish many departments and teams in various locations.

The swing space gives staff freedom in huge businesses. In addition to this, MyBranch also observe businesses in various stages of development use space because it gives them the freedom to expand, downsize, or consolidate as necessary. We enable businesses, concentrate on their immediate needs so they may concentrate on their long-term goals.

“They don’t just focus on coworking”, they are reshaping traditional real estate while building the future of the work. In order to connect individuals and transform buildings into dynamic spaces for creativity, attention, and cooperation, MyBranch are committed to fostering a global community.

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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.