Skip to main content

Flexible workspaces are the pill for startups' longevity and success 

Written by - Anurag Sharma, Marketing Head, Bhive Workspace

____

In the last five years, India has witnessed some of the most transformational developments - from becoming one of the largest startup hubs with over 84,000 entities to the rollout of the fifth generation of telecommunications and internet commerce, democratising and organising new sectors. These developments have significantly altered how we conduct business and lead our lives, making them more seamless and fulfilling. Interestingly, the underlying theme, among other factors turns out to be the proliferation of flexible workspaces, which has been rapidly gaining adoption in India by freelancers, small businesses or startups.

In end-2019, the total commercial real estate under the flexible office spaces market in India was spread over some 30 million square feet, with 471,782 seats across the top seven markets, according to a
report by international property consultant Jones Lang Lasalle. 

By the end of last year, it is estimated that the numbers have grown to 50 million square feet and 750,000 seats. By 2025, the flexible workspace market is set to cross the 1-million-seats mark with approximately 1,030,000 seats under its fold in the top seven markets spread over 75 million square feet. 
  
This significant expansion of flexible workspaces is a testament to its efficacy in providing the necessary impetus for new-age businesses. 

Iron out challenges for new businesses

Starting up is one of the most challenging affairs in the world, which is why the very concept of ease
of doing business came into the picture. While founders focus on establishing the business model, setting up their base operations itself poses a host of challenges - from acquiring an office space with services essential to carry out the business, attracting talent and reducing hassles in running day-to-day operations to focus on the core objective- of running the business. These hassles tend to distract founders from their core objective, and flexible workspaces aim to do exactly that with their state-of-the-art tech-enabled offices, a host of services available in a no-frills manner, and an exciting space for collaboration and innovation. 

These pillars become essential as they help establish the building blocks of any business. It becomes imperative to note here that acquiring an office space with IT, concierge, security, transportation and other services in a traditional office setup are a significant drag on revenues for
smaller companies and flexible workspaces, with their pay-per-seat model allow startups to acquire office setup and services at a fraction of the cost, which brings cost efficiencies.

Geographic democratisation of flexible workspaces crucial for startups 

With metro cities like Bengaluru, New Delhi, Mumbai, Chennai and Kolkata already riding on a startup wave, smaller cities such as Jaipur, Coimbatore, and Lucknow are soon emerging as the new centres of growth for startups, with new-age businesses cropping up from across these cities. This democratisation has been happening in tandem with the development of flexible workspaces in smaller cities, which is providing the building blocks for starting up a new business. Here, the rise of flexible workspaces is also ushering in an ecosystem-wide change with the transformation of old offices into premium workspaces, elevating the service standards of vendors and creating opportunities for others to grow. 

Therefore, it is safe to assume that startups and flexible workspaces are perfectly intertwined to suit each other's requirements and grow simultaneously. This, complemented by the various government-run initiatives such as Startup India, Digital India and Smart Cities to popularise startup culture, will inadvertently hinge on the mushrooming of flexible workspaces and the rise of sectoral spaces which caters to the nuanced needs of companies.  

________________________________________________

Disclaimer: This article does not have journalistic/editorial involvement of editors at tusharmangl.com . We do not endorse/subscribe to the content(s) of the article/advertisement and/or view(s) expressed herein. We are not in any manner, be responsible and/or liable in any manner whatsoever for all that is stated in the article and/or also with regard to the view(s), opinion(s), announcement(s), declaration(s), affirmation(s) etc., stated/featured in the same.

Labels:

Comments

Post a Comment

Popular posts from this blog

Does India need communal parties?

I think, it was Tan's post on this blog itself, Republic Day Event, where this question was raised. My answer. YES. we need communal parties even in Independent, Secular India. Now let me take you, back to events before 1947. When India was a colony of the British Empire. The congress party, in its attempt to gain momentum for the independence movement, heavily used Hinduism, an example of which is the famous Ganesh Utsav held in Mumbai every year. Who complains? No one. But at that time, due to various policies of the congress, Muslims started feeling alienated. Jinnah, in these times, got stubborn over the need of Pakistan and he did find a lot of supporters. Congress, up till late 1940's never got bothered by it. And why should we? Who complains? No one. But there were repercussions. The way people were butchered and slaughtered during that brief time when India got partitioned, was even worse than a civil war scenario. All in the name of religion. And there indeed was cr...
40 comments
Read more

Epitome of Equality

First of all This is not to demean any religion.. I am a Hindu by birth, but yes I respect all religions .I offer my daily prayers , fast on holy days , but there was something that was disturbing me . God as per me was a Friend, someone who was by my side always , someone who was a dear friend , but this is not what everyone else thought , for others he was the Judge who gives his verdict always and punishes anyone and everyone . Walk into any temple and you would see , if you have money , you will be treated in a way as if you are the ONLY disciple of the God . I have had too many experiences where I was treated as a second class citizen in the temple . Why? Well I could not afford giving thousands as donation. This is not how it should be , God looks at each one of us with the same divinity .As I mentioned God for me is a friend, so tell me, do we chose friends based on their bank balances? Do we give our verdict on them ? then how can God do it? I know many of us would ...
32 comments
Read more

Some Information Related to Guest Blogging

Many of us don't know about guest blogging. So, what is guest blogging?   When one blogger posts his content to another blogger's site it is termed as guest post/guest blog. This method can be used to increase traffic on our sites. Mainly new bloggers use this technique of blogging so that their blogs get promoted and they can build-up the relationship with the audience and this technique also helps them increase the traffic on their site.  If you have started a new blog, your blog might have trouble in reaching up with a wide range of audience, even if you have strong content to post. So, you can publish that content to someone else’s blog whose blog is already reputed so that people can read out your content and if they like your post than bingo!!! You grab audience attention and this lead to increase the number of audiences on your site. But make sure that the concept is simple, and you are writing the content according to the blogger’s requirement. The...
Read more