Corporates and SMEs Incline to Co-Working Space Community

Co-working space providers such as CoWrks, InstaOffice, 91springboard and Awfis have confirmed that their 40 to 50 per cent of spaces are occupied by SMEs and corporates. In the light of this new observation, it can be determined that co-working spaces are becoming a popular choice not just among start-ups but for corporates and small and medium enterprises (SMEs).

The corporate offices are often bigger in size and less than 50 percent of that space is under or over utilised leaving rest of the space vacant. The idea of co-working space attracts them because that way they can save the rent of the empty space. Also, corporates would want the team size to be smaller and collaborative and co-working space effectively aligns with this new process, says Vikas Lakhani, the Co-Founder of InstaOffice – a co-working space startup.

While associating with foreign companies, which are looking to set up base in India, corporates opt for the co-working space which gave both the companies an opportunity to collaborate easily and work together on their goals. Besides this, co-working space is more convenient for foreign companies as everything is already setup and operating through these spaces is smooth without any hiccups, in the opinion of Sidharth Menda, the CEO of CoWrks – a co-working space provider in India.

Moreover, many companies want to develop a stronger relationship with start-up communities and co-working space is one of the places it can be achievable because, most of the start-ups, due to smaller team size, choose co-working space for their operation.

“Our branch locations render a flexibility to the employees and allows them to work near their homes which save a lot of time and adds productivity,” says Amit Ramani, Founder, Awfis.

“We have a lot of partnerships with corporates such as IBM and Amazon, who are always looking for startups. This becomes easy for them to scout for early-stage startups to collaborate,” says Varun Chawla, Co-Founder, 91springboard.

Source: ET Realty


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