The coworking primarily associated with freelancing and shared desks is already an old and outdated concept. As per the 2017 Cushman and Wakefield report, the growth for the demand for coworking spaces is happening 10 to 15% per annum, especially around the Asia-Pacific region. This rapid growth is the indicator of the popularity of coworking spaces because of the main factor that growing numbers of start-ups are joining in the coworking spaces which in turn gives them significant growth opportunities. If you are a start-up and have not yet joined a well-structured and well-established coworking space such as The Hive consider joining a coworking space near your locality to ensure your growth.
The start-ups normally struggle in order to find an appropriate working environment for the purpose of scaling up their employees or human resources. Eventually, the coworking spaces provide them a suitable working environment with the required networking of professionals which ultimately serve the purposes of scaling-up the human resources for the start-ups. This is the reason growing numbers of start-ups are moving into the coworking spaces eventually increasing the numbers of coworking spaces. For example, a growing start-up with just two or three teams of human resources can conveniently get into and function as well as scale-up its employees before switching to a new and smaller office as the team of human resource expands.
Another reason why start-ups are more interested in coworking spaces in comparison to having their won office is to reduce and get rid of the day-to-day office maintenance and management responsibilities and costs. The costs saved from the unnecessary maintenance and management of office and infrastructure is then invested in the business which is a plus point for the start-ups. The time and energy they would have spent for various office management like electric bills, water and sanitation, furniture and decorum etc. are more efficiently devoted for the growth of their business and the limited financial resources are supported by the saving of expenses.
Most importantly, the networking opportunities that are available in the coworking spaces help abundantly in boosting the growth of start-ups in terms of getting new and potential clients and increasing the customer base. The contemporary coworking spaces deliberately and inherently promote networking and collaborations towards fostering organic trade and business connections. Besides this, since the coworking spaces are the places where freelancers from a variety of sectors and industries flock around, it gives an opportunity for the start-ups who rely on outsourcing to source best talents.