Are co-working spaces the best bet for start-ups and small businesses?
Updated On: 22 August, 2023 10:49 AM IST | New Delhi | IANS
For startups and small businesses with limited resources, renting or leasing traditional office spaces can be a significant financial burden
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Image for representational purposes only. Photo Courtesy: iStock
Shared office systems provide the perfect blend of community and flexibility for startups and small businesses to thrive. With the availability of hi-tech amenities, coworking spaces are the go-to destination for start-ups, small businesses and entrepreneurs to collaborate and innovate.
Such spaces also play a crucial role in the development and success of these businesses by providing a supportive environment to accommodate changing needs. This could result in plenty of new ventures as these businesses, working from a coworking space get to interact with people coming from a variety of backgrounds. Indian start-ups have shown a significant increase in leasing flexible office spaces in the last few years, second only to the technology sector. The small business sector is critical to achieving a $5 trillion economy for India as it employs over 100 million people and accounts for 40 percent of manufacturing output. In this context, it would be appropriate to look at multiple factors that explain why start-ups and small businesses opt to work from shared spaces.
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