A new year has just begun, indicating the time moving forward at its pace. One Internet wishes all its readers a very happy and prosperous year ahead. The beginning of the year brings us an ideal occasion to look at some of the past workspace trends and also estimate the upcoming trends in the near future. The conventional ways of working from9-to-5 in a day and traditional workplaces are on their way out. While modern day organisations are switching to flexi-hours and work-from-home options for employees, newer ideas such as co-workers and nomad workers are appearing as promising trends.
The year 2005 first saw coworking office space sprouting up. Since then, the preference of office owners or business set ups is shifting towards shared workspaces from traditional office spaces. The end of 2016 saw a drastic number of coworking spaces added to the existing pool. Surveys conducted show that more than 80% of the coworking space providers around the world expect higher revenues and growth in number of their perspective clients.
A study conducted in 100 countries, including India, revealed that around 74% of those interviewed in India said that they find co-working spaces as inspirational. The co-working makes it possible to share skills and experiences while working. This comes as a good news for the shared office space industry!
Why the shift towards coworking spaces?
One of the visible triggers that stimulate the growth of co-working spaces is that it is much more economical. Specially start-ups and micro-enterprises which are at their initial stage find it a good way to save money for their business by opting for shared workspaces.
The diversity that a co-working space offers is inspirational for business owners. A company that works in a coworking space has a mixed environment with creative talent, designers, developers and entrepreneurs all working together. Moreover, it is very easier to build a strong and diversed network. Start ups can find and connect with experts who can mentor and nurture their business as and when required.
How things are shaping up
As the market is maturing, the prognosis for co-working is great. Members will further attract more members as co-working spaces evolve as one combined and common ‘work space with facilities like coffee shop, entertainment centre and feel-at-home’ experience. Those with better funding gradually start providing services such as health clubs, co-worker’s theatres, dry cleaning, ATMs, and even pigeon-hole rooms for a night or day’s stay are welcomed due to the 24×7 work style preferences of many young members.
Coworking spaces use pay-per-use model which helps the co-working space owners to have more revenue streams to depend upon besides desk rents. Members have to pay only for the services they use and not anything extra.
Another factor that seems to be evolving as the vital bloodline to fuel the growth of co-working spaces is the concept of crowd sourcing funding. With more and more success stories in the co-working space coming up, private funding is inevitable. With more money flowing in, negative reviews like poor internet connections, noise levels and lack of privacy will soon be eliminated. The coworking space industry is sure to flourish and witness positive growth in the coming future.