coworking spaces, Serviced Offices, Shared Office

Why Are Corporate’s Going For Coworking Space

Why Are Corporate's Going For Coworking Space - Qdesq

Coworking spaces have been in rising demand all around the world. Not only startups or freelancers are the ones opting for coworking space, there are big companies and corporations also moving into the shared workspace. The idea of co-working/ shared spaces is changing the traditional way of doing business. People in all fields know the advantages of working in offsite locations as they have the amenities required, such as high-speed internet and printing, along with the infrastructure that could help in collaboration, creativity, and productivity. Due to all these factors shared offices have become the perfect places for start-ups and small businesses to call home.

There is an increasing rise of big corporates opting for Coworking spaces. Some big corporates  such as IBM, Microsoft, and Verizon, are opting for flexible or coworking spaces for their employees so that they are closely connected to startups and get to interact with them.

One of the biggest coworking companies, WeWork, is seeing an increase in the number of big corporates using their space. Over the last year, WeWork’s clients were more than 1,000 employees and now it has doubled. Some of the big corporates which have memberships include Salesforce, Starbucks, Microsoft, Facebook, and Bank of America. A recent report finding has shown that 25 percent of the annual revenue that WeWork get is from these big corporates having more than 1,000 employees.

Cost Efficient

Due to the rise in commercial prices of real estate, co-working has now become a better choice for larger companies, SMEs, and freelancers. Shifting to co-working reduces their time and money as they can invest the same money in making the business more productive and profitable With the growing number of corporates opting to move their base location and set up more regional offices, to invest in a new property or to commit to a lock-in period where their funds would be blocked is not a good option. For such companies, working from a co-working space is a far better solution. Finding the right co-working space at the right price, with the right amenities built-in, can be much more better than renting an office block with limited amenities is the reason so many individuals, small businesses and larger corporations use coworking spaces. No matter how small or big your business is, coworking saves a lot of money, if you choose the correct space suitable for your business. Instead of taking an office space on rent, buy furniture and other necessities, pay for bills, and provide refreshments, corporates have to just pay the fee every month to the coworking company.

Improves Productivity

In a coworking space, you work closely with other multi-talented entrepreneurs, freelancers, small businesses owners, or startups. This can help to increase your creativity and productivity. When employees work alongside with startups and professionals who are multi-talented it not only makes it easier to get new ideas but; it also provides motivation and helps in increasing the overall productivity. Employees get more motivated when they see others people around them working hard and bringing in new ideas, due to which large companies opt for coworking spaces. When an employee sits for eight hours a day at the same place in a company with not so cool surroundings may make you less creative and to get out of this rigid box, you can opt for a whole new place, a space with inspirational design, an open environment for creativity, communication as well as sharing experience to maximize individual ability. By working side by side along with other people in an coworking environment, you can gain knowledge and empowerment, think out of the box and gather new ideas, and ultimately learn a lot. Observing others closely and how they get along with obstacles will increase your drive and help you being more innovative.

Spaces as per your requirements

Coworking spaces mostly have open floor designs, but they have also spaces with more traditional floor plans and designs. There are spaces that are suitable for each and every type of member, and create multiple spaces if you have a room. You can modify the space design as per your needs – there are quiet rooms when you want to work quietly without any noise around, meeting rooms for team meetings or discussions, and general workspace where you can work along with others.

Networking/ Generate Sales

Another reason why multinational corporations partner with coworking spaces is to create business incubators. Some of the most important synergies include a partnership between IBM and Galvanize – a home base to startups and established companies and an alliance between Verizon and Alley – a US-based coworking group. Bosch went a step further by opening Platform 12 – a collaborative environment where employees, artists, and academics can explore new ideas together. Co-working spaces can actually play a key role in your business development Collaboration is important for innovation, and this is what coworking provides. The necessity to build links is a important aspect of any business, and open innovation helps to speed up development which can be better experienced at a coworking space.

Connect with startups

It’s a strategy of large companies to opt to have their smaller teams work in co-working centers so that they can get connected to potential customers such as startups and small business owners. Even banks and telecom companies which do not have much technology or experience with a new product, too, want their teams to sit away from their office sites and closer to startups. Nowdays many corporates want their sales and marketing teams to sit away from their main offices and closer to client sites to boost sales.

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