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Coworking Space Thrive By Fostering Networking And Support Through Community Engagement

Coworking spaces have become hubs that transcend traditional office setups. They’re not just about providing desks and Wi-Fi; they’re about cultivating a vibrant community. These coworking spaces thrive by fostering networking, camaraderie, and support through a unique approach to community engagement. The collaborative atmosphere offers more than shared work environments; it creates an ecosystem where individuals and businesses can connect, collaborate, and grow together.

Now let’s see how coworking spaces help in networking.

Networking Opportunities:

Coworking space serves a unique ecosystem for networking and collaboration. Professionals from various industries connect in these spaces, fostering rich skill sets, experiences, and perspectives. Within this vibrant environment, individuals find ample opportunities to connect, exchange contacts, and cultivate meaningful relationships. Whether it’s a chance encounter in the communal areas or structured networking events hosted by the space, coworking environments create organic settings for professionals to expand their network and explore potential collaborations. 

Knowledge Sharing:

Within coworking communities, the exchange of knowledge forms a cornerstone of the collaborative environment. Members, each with their unique expertise and experiences, contribute to a dynamic ecosystem of shared learning. This culture of knowledge sharing often transcends formal boundaries, with individuals freely offering insights, expertise, and support to fellow coworkers. Discussions over a casual coffee or structured workshops and seminars organized within these spaces serve as platforms for sharing valuable insights.

Professional Development:

Through organized workshops, skill-sharing sessions, and mentorship programs, individuals can engage in focused learning opportunities. These initiatives are often facilitated by experts within the coworking community or external professionals brought in to share their insights. The collaborative nature of these spaces creates an atmosphere for skill enhancement and career advancement. Members can indulge into a diverse array of talents within the community. In this way, coworking office space not only serves as places of work but also as arenas for continuous professional development, reinforcing the importance of community in shaping individual career paths.

Emotional Support:

Being a part of a community offers a sense of belonging and camaraderie, fostering an environment where individuals can share their challenges and successes. This support network serves as a platform for encouragement during both professional and personal endeavors. Whether it’s celebrating achievements or navigating tough times, the coworking community often provides a supportive shoulder to lean on. Such emotional support not only strengthens interpersonal connections but also contributes significantly to the overall well-being and morale of individuals.

Collaboration And Partnerships:

Within flexspaces, collaborations and partnerships often flourish, stemming from the diverse community that shares the same workspace. These spaces serve as productive ground for professionals from various fields to connect, exchange ideas, and embark on joint ventures. Many successful collaborations have their origins within these communities, where individuals find like-minded peers open to partnering on projects or ventures. These partnerships range from joint business endeavors to creative collaborations, leveraging the diverse skill sets and expertise available within the coworking ecosystem. 

Resource Sharing: 

Coworking communities thrive on the principle of resource sharing, where individuals readily offer their expertise, tools, or contacts to support fellow members. This culture of mutual assistance creates a collaborative ecosystem, where professionals freely exchange resources to complement each other’s strengths and overcome limitations. As a result, members benefit from access to a diverse range of resources that might otherwise have been out of reach in traditional work settings.

Diversity And Inclusion:

A key hallmark of coworking communities is their commitment to diversity and inclusion. Embracing diversity cultivates a more vibrant workspace and also sparks innovative ideas with different viewpoints. Inclusive environments encourage open dialogue and understanding, boosting a culture where individuals feel respected and valued. Members benefit from exposure to diverse thoughts, enabling them to approach challenges from multiple angles and thereby enhancing problem-solving abilities. 

Events And Social Gatherings:

Coworking communities often host a range of events and social gatherings that serve as platforms for budding entrepreneurs or startups to seek advice, feedback, and mentorship. These events facilitate connections between experienced professionals and those just starting their journey, creating a space for knowledge sharing and guidance. Experienced members readily offer insights, share experiences, and provide support to newcomers. This exchange of expertise and guidance helps newcomers navigate the complexities of entrepreneurship while establishing a supportive network within the coworking community.

The role of community in coworking spaces goes beyond providing a workspace; it cultivates an ecosystem where individuals connect, learn, and thrive together. From networking opportunities to emotional support, these spaces emphasize a collaborative spirit that elevates work cultures and nurtures individual growth. As professionals engage, share, and collaborate within these vibrant communities, they experience the powerful impact of collective dynamics, shaping not just their work lives but also their sense of belonging and well-being. Embracing the essence of community in coworking spaces enriches both professional journeys and the overall work environment, making them hubs of innovation, collaboration, and support.

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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.

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Lite Shared Office Space – Modernize the way of working

With the changing times, work culture is one of the areas which has majorly shown the changes towards the betterment. Businesses these days are looking towards hassle free approach for their further expansion. One most effective step towards this change is acceptance towards the concept of Small Coworking office spaces. Earlier setting up of a Lite Office Space came up with extremely huge investment and the maintenance cost. But now accessing such well-equipped office spaces is easily possible. All Thanks to the shared Coworking Spaces.

Freelancers or new Business set ups which requires smaller office space but inclusive of required amenities can opt for Small Shared office space. The Concept of Shared office spaces has reached to every corner of the country. If I wish to operate a business from a remote area, I can search for a small shared office space near me with the best working facilities and help my business grow. This helps a business to save on their capital which can be used for their further expansion.

If a person decides to take an office for rent, they must deal with many extra works related to building up and maintenance of that property. Instead, if they choose any Shared Coworking Space they will receive a lot more than what they would expect out of a workspace that too which comparatively lesser investment. These days Shared workspace have become so Lite, major businesses can be seen benefiting out of them. There are many small coworking offices near me which are totally lite inclusive of a great infrastructure, ambience, facilities, cool work culture around and much more. After the covid times these offices have not only maintained the look and feel, but they are very much responsible in maintaining the hygiene protocols which makes these spaces more safe and friendly for us.

There is a huge acceptance towards the concept of shared workspace because of which you can locate your own mini office space anywhere starting from Tier I to Tier IV cities. Shared workspace has provided a great platform to many new business set ups. Through a completely new work culture around businesses are able to accelerate themselves at extremely new levels. Hence instead of taking up small commercial space for rent, smart business minds are looking towards shared spaces.

The main factor responsible for expansion of shared office spaces at such high levels is that it helps an individual to keep the creativity alive, because of the atmosphere and easy accessibility to every smallest of the work requirement. This in turn is making the businesses come up with out of the box ideas for their sustainability. With the passing of time, Shared workspaces are going to replace the location centric office buildings and focus on the comfort of the employees. This will not only make the workplaces employee centric and help grow the businesses, but it is going to be a great step towards taking control of environmental issues like pollution, which happens due to the daily long-distance commutes of thousands of employees.

MyBranch is one of the Lite Shared Office Spaces, which is playing a key role in modernising the way of working. Fully equipped with larger or smaller office spaces, expanded to almost every corner of the country, this company is surely going to be one of the steppingstones towards the further expansion of not only your business but to the overall concept of shared workspace. So, if you are still looking for a perfect work environment for your business to flourish, this is the right place to start with. Many businesses have utilised their services and are still continuing with the same.

If you wish to make your business a part of modernization, the first step could be replacing the old method of renting out or buying a separate office space and switching to the concept of Shared coworking space. With just one change of step you can definitely make your business stand out and secure a great place compared to other businesses in the market.