From its stuffy and cluttered past, co-working has changed a lot in the past few years. The benefit of sharing a place with various organisations, startups and freelancers was an unimaginable dream in the past but in the coming days, this business has been favourable to entrepreneurs.
Digital nomads have been invading the work market and 9-5 common workers are also transitioning with the flexibility of space and time that has transformed our working style. The coworking industry has grown as one of the quickest developing trends in the work ambience. It is estimated that India is one of the biggest markets for shared and managed workspaces.
By this time, we know that coworking creates an ambience for people to showcase their creativity, increase productivity and connect with people from different ethnicity and backgrounds. This is a flourishing real estate business for landowners and plays an important role in alluring occupiers.
Here are some reasons why Modern India needs to accept this trend :
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Advanced productivity and creativity
According to a few studies, shared office spaces have increased opportunities in terms of collaboration and productivity among its’ members. As many coworking spaces like Workshaala, are offering facility management, many companies can reduce their traditional operational costs and expand their productivity. These days due to automation and technology, smart desks and smart printing are in the making that promise a future for coworking.
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Sustainability Targets
Millennials and Generation Z are somewhat, leading coworking spaces in India, with a whopping 75 per cent of start-up owners. Due to increasing demand, there are high chances that we are exploiting natural resources. To increase sustainability, price savings nearly up to 20 to 25 per cent, using public transport and sharing workspaces have gained popularity. Many coworking spaces have adopted green practices like using solar lights and smart lights. There are some offices that are coming up with drought-resistant plants for saving water.
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The future
According to NASSCOM’s study, India holds the 3rd largest startup ecosystem in the world. It is predicted that nearly, 10,500 new start-ups that would require to rent a desk for work will enter the market by late 2020. It is also estimated that there will be an increase in the spaces acquired by coworking spaces to 7.9 million feet by this year.
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Bottom Lines
There would be a huge development in the coworking segment. The model of sharing economy is growing powerfully across different countries. In a country like India where there is a potential for major youth percentage, coworking spaces have a huge boom hit.