In the past decade, the face of business operations has changed drastically in India. This, in part, can be attributed to the rise of innovative startups and medium-sized enterprises that have come out on top for modern consumers. However, the prime reason why a number of these ideas die in their incubation phase is not getting the right and nurturing environment. A team behind the business needs an office, but that does not necessarily mean that each and every one of them has a large corporate office.
For this very reason, coworking spaces have found their correct utilization in India, with more small and medium-sized enterprises moving out of their home, backyard, or comfort zone into an office for reaping the benefits. Though, what benefits are these? Here is a short piece on what benefits does an ideal coworking space brings to Small and Medium-Sized Enterprises (SMEs).
- Quick, Simple, and Efficient Setup
For SMEs, time is the most important asset. They can’t afford to spend much time on activities that are not going to give them returns. For instance, it needs to be fast and easy for a business to get settled in their space. That is why coworking spaces are almost always ready-to-move-in for most startups.
- Cost-Effective and Affordable
The most important factor for any SME, coworking spaces are more focussed on saving money for businesses. A flexible rental agreement and paying only for the services that are used are features that make coworking spaces instantly appealing to SMEs.
- Premium Location
For a growing business, getting an office in a high rise in the middle of the business district seems kind of far-fetched. However, with coworking spaces, businesses are placing their offices within reach of their clients in the business centres of the city.
Essentially, coworking spaces are just places that businesses rent on a monthly basis, free of any complicated lease agreements and hefty lease payments. In other terms, coworking offers enterprises unmatched flexibility in their use and commitment to space without tying up much-needed capital to a lease obligation.
- Complimentary Facilities
Coffee is known to be a cure for a lot of things and holds unparalleled importance in offices. Much like coffee, there are several amenities that come complimentary with renting a coworking space that include pantry services, high-speed internet, and maintenance services.
- Pay For Only What is Used
Depending on the need of a business, coworking spaces only need an organization to pay for what they have used. This not only helps in cost-cutting, but creates a model where things that are not in use are not hoarded by a bigger corporation, and is up for grabs for anyone.
- Networking and Funding Opportunities
For a small business, it is important to create and maintain a network of potential clients, contacts, and investors. Most of this can be done inside the workspace itself, with the likelihood of finding all three within the small space. As occupancy grows, the network grows bigger, which eventually creates an air of mutual benefits between two organizations and two professionals.
With a number of research studies showing the positive impact of coworking culture on productivity and creativity, SMEs reap a lot of benefits in a close-knit coworking community.
With the intent of serving more SMEs through our services, AltF Coworking offers great options in shared office spaces in Gurgaon and Noida. Call us now to book a tour or request a call back from an expert in only 60 seconds.