Coworking is a hired shared office area is used by different companies and independent workers at the same time. As per a report by CII (Confederation of Indian Industry), coworking spaces are predicted to increase by four times by 2020. Clearly, coworking is the future of work.

Here’s why :

The age of start-ups:
India is one of the top 10 destinations in the world for start-ups. As start-ups flourish, so will the coworking culture. Start-ups are synonymous with limited funds. With coworking start-ups can save a lot of expenses related to resources and infrastructure (internet, furniture, office area, etc.) as they won’t need to buy all these.

The government’s indirect support:
With the corporate tax reduced to 25% for businesses having up to Rs. 250 crore turnovers, MSMEs (Micro, Small and Medium Enterprises) are bound to multiply. Moreover, this year’s budget has slotted Rs. 10,000 crore for creating 5 lakh Wi-Fi hotspots throughout the country – a condition that promotes work from anywhere and everywhere outside the conventional office environment more possible.

Work-life balance:
Since nowadays employees are giving more importance to work-life balance, flexible work schedules, part-time jobs, and freelancing are on the rise. In fact, India has the second highest number of freelancers in the world. In such a scenario, coworking only facilitates the “work-from-home” culture with better infrastructure and peaceful environment that may not be available at home all the time.

Sharing is caring- the mantra of today’s generation:
Today’s youngsters, away from family, are used to cohabiting with friends and peers, open to sharing food, thoughts and time. Such an open and free-spirited mentality only makes co-working, meeting new people and knowledge sharing inevitable and desirable.

Knowledge – the key asset of industries today:
With market competition only increasing, knowledge and intellectual property seem to be the major assets for companies to achieve product differentiation and USPs in the industry. MNCs like IBM, Microsoft, and AT&T have started coworking with start-ups in order to keep their current employees abreast of the latest innovations and trends. Also, coworking provides a perfect platform for start-ups to get noticed by big companies.

A new dimension to real estate:
The prices of residential and commercial real estate are always rising. In such a state, coworking spaces seem to be an ideal real estate investment for people with small budgets. All it requires is initial payment for the building and bare minimum infrastructure costs and you are all set to enjoy the income from giving coworking spaces on rent.

Eco-friendly:
Coworking allows the optimum use of resources (electricity, stationery, etc.) and space by the maximum number of people. It also reduces the number of commercial buildings and reduces deforestation and land usage for construction purposes to a certain extent.

Coworking is when the service sector meets work life. We at iKeva understand this fusion. Get in touch with us today make your work more future ready.