Coworking spaces have a crucial role to play in the economic development of India boosting the economy. Coworking spaces in the initial stages were considered as an option for freelancers, but now it has outgrown that concept and it became a boon to the real-estate business growing at a rapid pace. The coworking industry gradually expanded its roots in India and of late it is one of the best industries in terms of growth and culture. As per the latest figures and facts, coworking industry experts opine that the industry will witness double growth in India. In the rest of the world, the coworking industry back to track after many months of lockdown due to the outbreak of the deadly virus – COVID.
Many startups & entrepreneurs perfect to launch their business operations from coworking spaces as it is economical and helps them to focus on their innovation and services. There are many benefits of coworking spaces: cost-cutting, saving money on infrastructure, and fixed capitals.
In the process of business creation, networking, and development, it is found that coworking spaces create many opportunities for businesses. Following are some of the facts that indicate the growth and role of the coworking industry:
- Not only small businesses but also big corporate too foray into the coworking industry to provide the best service to their clients on a long-term basis.
- According to experts in the coworking domain, the industry will see another big boom by focusing on women entrepreneurs and the hospitality industry. Many independent spaces will come up in the future that will serve the niche market in India according to expert’s predictions.
- A large number of freelancers, startups, and companies are looking for expanding their business in tier-2 and tier 3 cities in India.
- The smart city concept in India has also boosted the coworking industry in India. Of late, getting a coworking center across India is a reality, no matter in which state you are in.
Why Coworking space for Business?
Coworking space is important for any business. In coworking space, businesses get the right ambiance to work and thrive. It is the place businesses meet and grow their network. Besides, businesses can book the space, meeting rooms as per their choice and budget. Some of the advantages are:
- Businesses get access to technological services and infrastructure without investing huge capital.
- With the full automation and up-gradation of offices and workplaces, a professional and nature specific work environment where business owners and entrepreneurs can focus on their business
- Coworking spaces offer 24/7 accessibility which offers a lot of flexibility to the individuals according to the workload and deadlines they can plan their work at flexible hours.
According to statistics reports, the coworking industry is likely to grow at a faster rate in the cities like Hyderabad, Chennai, Mumbai, Bengaluru, Pune, and Delhi NCR. In India, the growth of the coworking industry is likely to increase around 50% in 2021, in the total market size half will be enterprises’ share and the remaining share will be of freelancers and SMEs.
O LaunchPad is one of the companies availing best coworking spaces and coworking incubation in Bhubaneswar. We offer the best coworking spaces in Bhubaneswar at prime locations tailored as per the need of the companies, startups, and industries. Of late, we have expanded our services to cities like Coimbatore, Pune, Lucknow, Patna, and Ranchi.