One of the most important aspects of starting a new business is to invest in an appropriate office space from where you want to operate your business. With a large number of different types of commercial office spaces available for both rent and purchase, new entrepreneurs tend to consider this a non-issue. That is until they start counting in the various factors that deeply influence their choice of an office space. Things like location, accessibility and pricing play a major role in the choice of a perfect office space. These factors combined with the hassles of maintaining an independent office spaces, has led to a significant rise in the popularity of coworking spaces in Delhi NCR and other metros. This has in turn given rise to the speculation of co-working spaces replacing the traditional office spaces in the near future.

Reasons Behind The Declining Popularity Of Traditional Office Spaces

Not too long ago, having an independent office was considered essential for businesses to establish a sense of trust and credibility amongst its clients. But with the onset of the internet era and the growing preference for online shopping, the necessity for businesses to have such spaces has become redundant. Other factors including the constantly soaring property prices, demand for more flexible work areas and the need for easy accessibility and greater visibility has changed the whole concept of setting up independent offices for a business.

Getting private office spaces at a reasonable price within the commercial hub in any major city is nothing less than a dream for most small entrepreneurs. At the same time setting up offices in remote locations does not hold much value for the venture. Most importantly with the rise of start-up culture, most businesses seek office spaces that can be upsized and downsized in accordance with business growth or lack thereof. Investing in traditional office spaces does not resolve this problem of the entrepreneurs. Hence all these factors have cumulatively led to the decline in the demand for traditional office spaces.

Do Coworking Spaces Offer The Right Solution?

Whether or not the coworking spaces offer the perfect solution to satisfy the office space needs of entrepreneurs, is a matter of individual choice and preference. However, it can be safely said that opting for shared office space in Gurgaon and other parts of Delhi-NCR as well as other major cities can surely provide significant benefits. These spaces are designed to meet the needs of the modern way of working preferred by the millennial workforce.  In addition, they provide culturally and intellectually diverse work environment which inspires creativity and enhances productivity. These spaces offer easy access to all the essential facilities and amenities necessary for a modern office. These spaces also go a long way in helping the entrepreneurs to cut down the overheads of office maintenance and other essential infrastructure costs.

Discussed below are some of the basic features or facilities that are offered by the co-working spaces at a far lesser overall price than a traditional office space:

1. Lock-in Period: With a coworking space there is no lock-in period attached. Usually with an independent space the lock-in period ranges from 12 to 36 months. For businesses, getting into a lock-in period either restricts their growth or expansion due to less space or they end up taking a lot more space than what is required, resulting in paying for under utilised space while there is no such issue with co-working spaces.

2. Scaling Up/Down: Upscaling or downscaling of team is easier in a co-working space than an independent office space because there are no lock-in periods attached & the notice periods are usually of one month. This helps in saving cost & paying only for the right amount of space that is required.

3. Freedom From Cleanliness Woes: Whether a business runs from a small home office or a multi-story complex, maintaining office cleanliness is essential. A clean and clutter free office not only enhances the mood and productivity of the workforce but also lays a lasting impression on any visitors. Most entrepreneurs need to employ at least a couple of sanitary workers to maintain the cleanliness of their premises. However, with coworking spaces the entrepreneurs do not have to worry about this aspect of office maintenance as this responsibility is handled by the space owners.

4. Easy Access To Latest Tools: From high speed internet to latest printers and scanners and other office paraphernalia, the co-working spaces offer the latest tools and technology to prove a smooth and hassle free working experience to the tenants. In addition, many such spaces also provide the availability round the clock tech support services to minimize the loss of productivity due to any sudden technical glitches.

5. Customized Work Areas: One of the most beneficial facilities offered by coworking spaces is that of customized work areas. This means that the tenants can choose to rent out the space equivalent to a single cubicle, a big conference room or even an entire floor based on their needs. Moreover, the size of the space rented out does not affect the facilities and services that can be availed by the tenants. Most importantly, the tenants can add to their existing space or reduce it at almost any time, depending upon their usage and business needs.

6. Impressive & Well-thought Interiors: The interiors of most coworking office spaces are designed with a great aesthetic appeal. This is done to ensure a comfortable and relaxed work environment for the tenants to help enhance their productivity. At the same time, these beautiful interiors go a long way in laying a lasting impression on the clients and partners of the tenants, who come to meet them.