Four Aspects That Evolved Co Working And May Continue To Evolve The Concept

Co Working Space
State-Of-The-Art Facilities

Shared work space in Chennai is evolving, thanks in large part to the evolution of co working concept. At the onset, co working was all about budding entrepreneurs needing space to work, and building communities through awareness. However, pioneers in designing shared offices say that the below four aspects evolved co working gradually and may even help in the further evolution of co working industry.

#1 Co Working Space On Rentals

Co working helps wannabe tenants outside office premises find work space for the time being to fulfill a temporary purpose which may be job-related. Holding meetings and conferences or even doing freelance work is pivotal for all digital nomads. To support this movement in co working, buildings provide space on rentals giving tenants access to state-of-the-art facilities and professional working communities.

#2 Incubating Budding Startups

Another co working space evolution includes crowd funding the workplace setup for startups. Angel investors are showing interests to invest in the segment and manage a professional set up for startups under one roof. Who knows, crowd funding could be the tool to find potential investors or partnering companies and jumpstart a new venture.

#3 Communal Tie Ups

Banks and insurance companies are providing new avenues for startups to tie up with gig economy. Banks are traditionally financial institutions, but they also look to partner with co working space providers and help reduce the cost per seat for working-class people. In a gig economy, temporary posts are commonplace, so startups tie up with independent workers on a short-term basis.

#4 Business As Usual With Co Working

Shared Work Space In Chennai
Incubating Budding Startups

It is said that the co working concept was meant for startups at first. However, even corporate and consulting firms are starting to embrace co working space and realize their long-term vision of worker mobility. Consulting firms don’t have the overheads of a long-term lease and since most staffs are consultants who are mobile, there is less waste of space at the office.

Co working concept is often interchangeably used as the future work space and yet the concept is here to stay. Solopreneurs and freelancers get ready for the immediate future, which may be when 40% of the workforce is expected to be freelancers, nomads, and co working contractors.

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