The rapid mushrooming of the startups makes it indispensable to contemplate the limitations of these promising ‘entrepreneurs’ when it comes to financial liabilities like taking up a workspace. These bootstraps already endure high risk financial choices compared to the old market players. It’s preeminent for them to disengage themselves from the old-fashioned baggage of renting a workplace like longer lease terms with hefty security deposits. This is usually not an ideal for young and new companies who are looking to grow and avoid extra liabilities.
Moving away from traditional mindset and opting for creative approaches to office space can be a great way to save time, money and effort. With the proliferation of tech-based companies, co-working environments can be the great solution for a wide range of start-ups to large companies that don’t require a big on-premise footprint and want to interact with other like-minded people.
First step to deal with the need for office space is to introspect, why do you need a traditional office space? Can’t you share? Once you make peace with these two questions you are on the path of choosing a shared office space. With the increase of digitally-based companies, co-working environments can be great solution for start-ups that don’t have a big footprint and want to interact with other like-minded people.
While looking for co-working space, out of many, following criteria should be considered
– In terms of flexibility, how much does the shared office offers on lease term, i.e. allow you to lease by the hour, day, month, or year?
– How much collaboration the co-working spaces offer. Are there like-minded people and companies around?
– How convenient is the location of city center/CBD and transport network for all your team members?
– Do they have IT support facilities and conferencing?
Shared office space also is yet another great alternative to leasing that encourages collaboration and provides opportunities to share your ideas with others. There are dozens of way to take advantage of sharing office space with other companies. That is why companies like Cokarya got started. Cokarya was designed to cater to the needs of a freelancer from “pay per use” model to support small businesses with spaces they need. They work with larger companies to look into their space that they actually need. You essentially get to rent a desk or a cubicle for a fee. The nice thing about the arrangement is that is can be completely customized.
At last, there is no one solution for office space needs, this would encourage you to be creative when thinking about office space. Saddling a start-up business with a huge liability like a high deposit fee can be tough when resources are limited. Especially when there are so many alternative solutions available.