How many startups do you think India must have added in 2017?

You may be surprised to know that according to the Nasscom Startup Report, India saw an addition of more than 1,000 startups last year. Yes, it means 1000 new companies or entrepreneurs. Today, India has the third largest startup ecosystem in the world, amid increasing competition from countries like the UK and Israel.

The new additions bring the total number of tech startups to nearly 5,200, making tech clearances or tech startups the most popular startups. The country also witnessed a rapid increase in business with these startups focusing on verticals like healthcare technology, fintech, e-commerce, and aggregators.

This brings us to the next interesting question of how, with tight funding, these new businesses manage office space. With sky-high real estate prices, buying office space means using funds that could otherwise be used to develop infrastructure, technology, operations, last-mile delivery, etc. And if you thought the other option of renting a space was better, then a good location would mean higher rents, and in exchange, locking down not only a certain amount each month, but also paying a security deposit three to six months upfront. which is above the rent. So this locks up huge funds that can otherwise be used wisely and for more important things.

Therefore, to keep that capital unlocked, we have an option for startups, professionals, small businesses, or any other business, and it is coworking. Welcome to the age of coworking or, in simple words, shared workspaces. These office spaces address the immediate needs of their clients by offering space options that range from pay per day to limited term, making them affordable. Not only this, for meetings or a permanent daily space, some even offer conference rooms and fixed spaces for your workforce. These options provide flexibility and help save costs as you decide what and how much you need.

Do you want to know more? We bet yes!

Unlike a rented space that comes unfurnished, coworking spaces are not contractual and do not require an initial investment. They come furnished, therefore ready to move in and ready to use. They also offer a wide variety of services and benefits such as private booths, high-speed Internet, cafeteria, lockers and much more, thus providing businesses with a normal office atmosphere rather than rented office space.

That’s not all, these are just the basics reviewed, let’s see more benefits.

Choosing your location is one of the biggest benefits of a coworking space. Since these places are in more than one place, they give companies the flexibility to allow their employees to work from any of their convenient spaces. In addition, co-working spaces can be located in a prime area that gives sole proprietors or small businesses access to pay and work from a prime location. Whereas, if you think of owning or renting an office space, it is a fact that the rent is mainly for the location and the facilities only later.

One of the biggest advantages of a coworking is adding space as you grow. Coworking gives companies the option to keep adding workspaces as they grow the workforce and not based on a growth projection, as is the case with a rented office space. Also, in case of meetings with clients or investors, a coworking area appears to be larger, professionally managed, and includes the basic amenities. Whereas, the latter is restricted to the office space that the company has paid for and the service and amenities at its willingness to spend at that time.

In addition to startups, these spaces are a boon for freelancers such as designers, developers, and writers as they work alongside a number of like-minded professionals, entrepreneurs, and innovators. Work culture and networking events help people from different backgrounds collaborate on a single platform that allows for the sharing of knowledge and market best practices, making it a conducive work environment.

So, are you thinking of buying or renting an office? Think again. When you have the convenience of a workplace that offers a calm, professional and hassle-free environment whenever you want it, why lock up funds? We say, try a co-working space now and let us know what you think about it on our blog, Facebook or Twitter.

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