Will Coworking Space Ever Rule the World?

Just five years ago, there were only 7,805 vacancies worldwide. A year later in 2016, that number grew rapidly to 11,100. By 2020, it has risen to 20,555 and counting. Given this rapid growth rate CoWorkingResource predicts that this number could reach 26,000 by 2022. Today all the major cities have welcomed a new set of projects with Mumbai with many of their co-workers with dots around the city. The reasons for this are simple: compared to a traditional office, a modern workplace is a cheap, customized, and functional workplace that caters to freelancers and SMEs to some of the world's largest companies. Clearly, a key ingredient in the global operating success equation is how the concept allows individuals and organizations to adapt to the way they manage available resources.

Flexibility Is Capital

One of the biggest ways coworking Space in Jaipur is changing the world is how it’s allowing small and medium enterprises to be more flexible with utilizing workspaces. Whereas in the past, SMEs would be bound to one to five-year long contracts for renting out physical office space, the coworking model has flipped the game. In fact, coworking spaces are typically secured through month-to-month memberships or similarly non-committal usage terms, which Industrious sees as a way for businesses to be much more flexible when responding to shifting industry needs. Rather than having to plan out a five-year budget just for rent, which takes a huge cut of available capital, SMEs can opt for months-long renting arrangements —all while also getting to customize the amount of office space they occupy. This level of flexibility affords startups and struggling businesses more on-hand capital, which can be delegated towards other practical ways for sustaining or growing the business. Small wonder that now-gargantuan brands like Instagram, Uber, and Spotify all started out as small teams operating out of coworking spaces. There’s no doubt that the flexibility afforded to these IT developers through coworking arrangements played a part in how they managed to properly scale into the IT giants they are today. And just as struggling disruptive startups can now have prime office locations for a quarter of the price, so can thrive multinationals better scale operations via custom coworking contracts. Effectively terminating ties with Virtual State GST, Google signed up with coworking firm IWG Place back in 2019 for a multiyear deal that gives the tech giant around 24,000 square feet or two floors of office space at Jodhpur location. Located at the heart of Toronto, it coincides well with Google’s plans to expand in the busy Canadian city. And as Google better establishes roots in its new Toronto location, IWG PLC —which has already captured around 32% of the local coworking marketshare— is bound to continue growing. One of the biggest ways coworking is changing the world is how it’s allowing small and medium enterprises to be more flexible with utilizing workspaces. Whereas in the past, SMEs would be bound to one to five-year long contracts for renting out physical office space, the coworking model has flipped the game. In fact, coworking spaces are typically secured through month-to-month memberships or similarly non-committal usage terms, which Industrious sees as a way for businesses to be much more flexible when responding to shifting industry needs. Rather than having to plan out a five-year budget just for rent, which takes a huge cut of available capital, SMEs can opt for months-long renting arrangements —all while also getting to customize the amount of office space they occupy. This level of flexibility affords startups and struggling businesses more on-hand capital, which can be delegated towards other practical ways for sustaining or growing the business. Small wonder that now-gargantuan brands like Instagram, Uber, and Spotify all started out as small teams operating out of coworking spaces. There’s no doubt that the flexibility afforded to these IT developers through coworking arrangements played a part in how they managed to properly scale into the IT giants they are today. And just as struggling disruptive startups can now have prime office locations for a quarter of the price, so can thrive multinationals better scale operations via custom coworking contracts. Effectively terminating ties with We Work, Google signed up with coworking firm IWG Place back in 2019 for a multiyear deal that gives the tech giant around 24,000 square feet or two floors of office space at IWG Space’s Royal Bank Plaza location. Located at the heart of Toronto, it coincides well with Google’s plans to expand in the busy Jaipur city. And as Google better establishes roots in its new Toronto location, Kolkata —which has already captured around 32% of the local coworking marketshare— is bound to continue growing.

Organic Collaborations

To say that social work is a place of communication would be an understatement. As more and more people attract the office they work with, each new person, set of skills, brand, product, company, or technology brought to the shared table reflects an opportunity not only for communication, but for collaboration. Compared to a traditional office, human resources are more likely to find like-minded entrepreneurs, industrial advisers, technology disruptors, and anyone who wants to change the world or file a claim. All of this is now being done in the modern offices of his colleagues. And as the concept continues to expand and evolve into different types of Work-like a-Service, more opportunities for collaboration will follow. Any business that wants to manage the world using a co-operative model needs to simply access and seize these growth opportunities. As the founder of Virtual State GST Arvind Ajmera advises companies that fight disruptive technology, “Focus on Human Factor! As we live in a technologically advanced world, certain technological advances will never be replaced. ”that technology will never replace