Co-working is a concept of work where individuals have the option to work independently in a shared office. In a typical office, all the office’s workforce is usually employed by the same company whereas, in a co-working atmosphere, the people working in the office belong from different organizations or even diverse job profiles and come to work together in a shared setting to increase bonding and create a feeling of synergy. This is a particularly attractive option for people who work from home, freelancers or independent contractors. Co-working office is a great concept to deal with the isolation and boredom that freelance workers often face. The shared office space allows the workers to create a bond with the fellow workers that can aid in creating a bigger business network.

Co-working is a unique solution for startups as well as independent workers to cultivate values and helps connect with the larger business community by exchanging ideas and perhaps even collaborating on projects. Most co-working spaces require a membership fee from the workers inhabiting the office in exchange for the space provided as well as the extra amenities.

These kinds of Business centre's are a great idea for newer startups for a number of reasons such as:

 

Resource Diversity

The diverse group of people working in the shared office space can allow for an increase in the creative outflow and incorporate different perspectives. The people working in the co-working offices come from different walks of life. While some are freelance writers, others are independent researchers and scientists. This allows for greater connection and flow of ideas, accounting for bigger network cycles. The workers can form a collaborative community with a positive, symbiotic relationship.

 

Expansion at Minimum Cost

Start-ups are small-scale companies with big ideas but limited finance. To set up a physical office includes a lot of initial investment. With co-working office, the start-ups have the option to expand their team without having to provide a physical space for doing so.

 

Flexibility to Work From Anywhere

Members of the co-working office have the luxury to work from anywhere as long as they have a good internet connection. This reduces the hassle of everyday commute and evades unavoidable delays caused by traffic jams.

 

Network Expansion

Since co-working offices bring together people from diverse backgrounds, it helps to build and expand the team by increasing the networking chains. Individuals bring in their own expertise that helps to enrich the experience and enhance the work output. This step helps in the growth of smaller start-ups that benefit exponentially from the input of different people. 

 

Setting up a new physical office from the scratch is quite expensive, not to mention labor-intensive. Get a new office ready can take up to months which might halt important business developments in the company. Co-working offices bypass these problems by getting an office that is not only cost-effective but also comes ready with a number of basic amenities that are needed to function effectively. Some of the important amenities include:

 

1.    Internet and high-speed Wi-Fi facility throughout the premise

2.    Free access to lounge areas

3.    Fully-setup Kitchen facility with refrigerators microwaves and espresso makers

4.    Meeting rooms and discussion boards

5.    Limited pantry and free beverages

6.    Security

7.    Clean and well-maintained toilets stocked with toiletries

8.    Clean drinking water

9.    Maintenance service 

10.    Electricity with generator back-up

 

While once an alien idea, the concept is picking up rapidly in the recent years. Between the years 2006 to 2013, the number of co-working offices has doubled around the world. In India, the trend has got some attention in start-up hubs like Bangalore where newer companies are experimenting with their work environment, striving for more flexible working hours and looking for more cost-effective ways to advance their business.