| |NOVEMBER 20209with an opportunity to remain lean, providing them with an economical avenue for community collaboration, and a lively, dynamic atmosphere that inspires productivity. On the other hand, shared working spaces usually cater to and house big-ger and more established businesses. They provide a standard office set-up in a modern way, suiting the various requirements of businesses. Compris-ing spaces such as executive suites and business centres, shared work-ing spaces focus on having equipment such as fax machines, copiers, profes-sional office furniture, and stationery in place. Under shared working spac-es, clients can have their own dedicat-ed offices by acquiring Shop and Es-tablishment license and getting their own branding. Another important distinction is that co-working spaces are usually leased out to members for a period of 3 to 6 months while on the other hand, shared office spaces are leased for a minimum of 12-months and more. WHY SHARED WORKING SPACES ARE MORE SOUGHT-AFTER? Coming to a co-working space at the entry-level option, one gets a clean desk, access to Wi-Fi, and small perks such as tea and coffee. On a small ad-ditional payment, one can get supplies and other services such as printing, copying, meeting/conference rooms, for which normally people have to pay separately, adding exorbitant-ly to expenses. Such a model suits freelancers, remote workers and small businesses. However, when the business picks up and there are meetings scheduled with more clients and partners, a private office becomes a more viable option. Although co-working spaces do offer private offices, having a ful-ly-serviced shared workspace pro-vides a more direct connection with one's clients. One can hold meetings without having to worry about inter-ruptions from other members. Many quality workspaces entail soundproof spaces for calls as well as latest tech-nology for video conferencing and document sharing.Businesses need to understand the needs of their clientele and find a space that caters to their particular requirements. For example, a com-pany needs to figure out whether a café will suit meeting its prospects or they will instead need to opt for a more professional environment. In many cases, working remotely hin-ders productivity for many of the large-sized businesses. Also, the ma-jority shared working spaces pro-vide amenities that are critical to the success of a business that wants to have an office-like infrastructure in place but at the same time not shell out big bucks for a long-term com-mitment. These factors key in a rise in the demands for such workspaces among organizations. Co-working promotes communi-ty, honesty, openness, collaboration, ease, and accessibility. Co-working spaces also have a full-time commu-nity manager or a facility operator for handling these interactions. Such ben-efits afford opportunities to business-es to leverage those values and scale their operations. Shared working space gives a deep sense of belonging as one not only owns just a work station but an area privately belongs to them. It is a more sustainable model. People share the space yet enjoy a private atmosphere.SUMMING IT UPThe benefits of a shared working space are plentiful. It is a sustainable and a financially viable option in the longer run. Shared working spaces are highly recommended as the dedicated branch managers help in the effective manage-ment of office requirements through the complete set of services available in these spaces, enabling businesses to focus on their growth and expansion. Co-working spaces afford start-ups with an opportunity to remain lean, providing them with an economical avenue for community collaboration, and a lively, dynamic atmosphere that inspires productivityKushal Bhargava
< Page 8 | Page 10 >