| | NOVEMBER 20208Vantage Point By Kushal Bhargava, Co-Founder, MyBranchI n recent times, the popularity of co-working spaces has sky-rocketed and these continue to be a popular choice for start-ups, en-trepreneurs, and even big established businesses that need a workspace on flexible terms. Although many have traditionally taken it as given that a permanent office dedicated to a single business is how companies should run, present-day contractors and business owners prefer to look at things dif-ferently now. Many businesses have now embraced the concept of shared working spaces to keep the costs of commercial real estate down and eliminate additional expenses like ex-tra-staffing and space build-outs. The terms `shared working spac-es' and `co-working spaces' are used interchangeably quite often. However, there is significant number of differ-ences between the two. The confu-sion is caused between them because of nearly similar workplaces such as business centres, shared spaces, executive suites and fully-serviced offices providing members with the same experience. A shared workspace and co-working space can vary in terms of the vision of the space, the goals and needs of the company, and the demands of its business. There is not a `one size fits all' for busi-nesses that occupy both shared and co-working spaces. CO-WORKING SPACE VS. SHARED WORKING SPACECo-working spaces are generally ideal for and preferred by start-ups and en-trepreneurs looking for a better and more feasible alternative to working from home. It is often freelancers who use these spaces, as some of them are just getting started and are not tied to any specific business or industry. Co-working spaces afford start-ups WHY SHARED WORKING SPACE IS A PREFERRED OPTION VIS-A-VIS A CO-WORKING SPACE?
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