News About Coworking

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We have a lot of exciting news about coworking this week!

In Asia, coworking spaces are evolving to attract more corporate clients. Meanwhile in India, coworking is becoming the norm.

Want to stay in the know about coworking in NYC and other parts of the globe?

Read on to learn some of the latest news in the coworking industry

Inside Life Creative, a 20,000 Square Foot Coworking Space in Fulton Market

Coworking spaces offer members shared resources, a sense of community, a place to collaborate, and of course, cheap office space. That, along with plenty of coffee, is what most startups need out of their workspace.

coworking space in fulton market

But if you're getting started in the creative community, you might need a few other resources like:

  • CNC router for carving designs
  • Carpentry department for building theater sets
  • Yards of fabric for upholstering event furniture
  • Workspace to arrange flowers
  • And more

This week, a coworking space with all those resources (and more) is set to open to the creative community.

Life Creative, a new coworking space located at Fulton Market headquarters is slated to open their doors this week. The goal is to foster collaboration, as well as help fledgling artists, engineers, and founders get access to unique industrial and education resources.

New Coworking Spaces Offer Opportunities to Jakarta Entrepreneurs

Historically, entrepreneurs have had few workspace options when starting new businesses. They can work from a coffee shop, at home, and now recently, coworking spaces with private offices.

Coworking spaces are places where entrepreneurs can work in a shared office with other companies. What's more, they offer services ranging from meeting rooms to mentorship and in some cases, workout facilities.

Jakarta is home to more than a dozen of these spaces, and the number is steadily growing.

For Aryo Ariotedjo, founder of Freeware Spaces in South Jakarta, collaboration and mentorship are huge benefits of using coworking spaces.

His space hosts a variety of companies ranging from men's fashion, to online media, to high-end retail concierge services.

Danny Widodo, cofounder of concert demand platform Konsaato, said coworking spaces offer many opportunities for social engagement.

"I'm able to talk to people from different startups, gain and share knowledge from them as well," Widodo said. "When we have issues with our company, [other tenants] can offer a new solution. That's what a coworking space is all about."

The Evolution Of Coworking In Asia

Although co-working is a relatively new trend, it’s steadily evolving, especially in Asia. As larger corporations get in on the game, co-working is adapting and changing to suit every worker's different needs.

In the beginning, coworking spaces were about young, entrepreneurial companies and digital nomads needing office space.

Now, it's about accommodating startup businesses who need assistance in scaling their business.

People with great ideas but no financial resources could use a coworking space to get their idea off the ground.

As Angela Ferguson, MD of workplace design firm Futurespace, puts it:

“Co-working was about getting people to network and share ideas, creating a community around work and what that meant. What we’ve seen now is that they’ve become so much more than that, the concept has evolved very rapidly.”

Are Empty High-End Restaurants The Next Coworking Trend?

Turning offices into coworking spaces aren’t cheap: You need to pay rent, buy desks, chairs, and remodel the kitchen.

While coworking membership plans are often cheaper for entrepreneurs and digital nomads than renting an office, the rates do vary depending on your needs and location.

coworking at high-end restaurants

But what if freelancers, consultants and entrepreneurs worked out of an existing space that is unused during the day? Several entrepreneurs are testing that concept by turning restaurants or coffee shops into coworking spaces.

One example is CoworkCafe.

CoworkCafe opened in Arlington, Virginia, in the Boccato coffee shop.

After 6 p.m., the area of the shop becomes a coworking space open to the general public.

For $150/month, CoworkCafe members can get a $50 food credit and access to reserved spaces and high-speed Wi-Fi.

* For $20 day, you can get passes but don’t include any food credit.

LinkLocale, a more traditional coworking space in the area, imposes the following fees:

  • $30 per day
  • $175/month for flex space
  • $475/month for reserved space

Demand For Coworking Spaces Soars In DC

Coworking spaces — office space that rents out shared or private desks and small private offices with shared amenities — now totals 1.8 million square feet in the District alone.

“The co-working industry is booming across the region and especially within the District,” said JLL’s Scott Homa. “The growth has been exceptional, and by all indications, the spaces are very well subscribed. Many of them have waiting lists that span several months.”

Is Coworking Becoming The New Normal?

Technological advances have given employees more independence and mobility to work from anywhere. Moreover, large and small employers are permitting and even encouraging their employees to work outside the office.

An article in Harvard Business Review titled, “Workspaces That Move People” describes the origin of co-working as coming from San Francisco, Berlin, and London in 2005.

“Technologists, programmers, and creative professionals wanted to work outside confining office environments but also to avoid the isolation of home offices,” wrote its authors.

Coworkers Are More Relaxed And Balanced

The majority of Maltese workers favor moving away from a ‘typical’ office environment, according to a survey conducted by Regus. In summary, the survey found that across the globe, workers in coworking spaces are seen as the most relaxed and balanced workers.

Co-working is a style of work that sees employees of different companies working in a shared office environment.

Two-thirds of business globally (66%), report that co-workers have a better work-life balance and are therefore more able to juggle the competing demands of personal and work life.

Over 70% of Maltese workers who work from home said co-working could play an important role in combating loneliness, while 54% said it would help them live a healthier lifestyle.

In addition, the survey found that greater choice of location along with a better social environment probably contributed to lowering stress levels and users of co-working spaces were seen to enjoy more diverse friendships and relations.

Uniting The Suits And The Beards: Coworking’s Rise

Co-working has now hit the mainstream. The word conjures up images of bearded, flannel-shirted hipsters working on iMacs in Scandinavian inspired “spaces”. Yet more and more corporates are now adopting it, with companies like Microsoft, Philips, and several mainstream retail and investment banks utilizing this office alternative.

So, does this mean your 'office' is going to be filled with other startups? Yes!

But fear not. Co-working provides a number of benefits for any innovative company.

Let’s start with the basics.

For easier comprehension, let's take a look at an example:

some businesses are implementing internal forms of co-working to help increase internal collaboration, with the creation of “hubs” where people from different departments can work together.

Then, there is the specialized co-working office (think The Farm SoHo) – an offshoot of the serviced office – which (generally) puts freelancers and start-ups not only in the same building but sometimes even on the same desk, giving them the chance to meet like-minded people, discuss ideas and trade advice.

Why Coworking Spaces In India Have Startups And Entrepreneurs Hooked

The monumental work that follows startup businesses begin to manifest itself when investors and other stakeholders come knocking.

Co-working spaces essentially work around the concept of leasing office infrastructure and resources to individuals or groups of people, often on a subscription basis. In addition to flexible working hours, these centers foster an innovation-inspiring atmosphere, bringing together groups of like-minded people under one roof.

"The idea was essentially to set up a plug-and-play option for anyone looking for a serviced office space," says Virtuous Retail (VR), Director, Rajiv Raichand in an interview with the Economic Times. "When people start their own businesses, they need to experience the exchange of ideas while maintaining a wide network of connections. With co-working spaces, we give them the option of picking up contacts from simply working together, thereby bringing much more value to people running businesses," he says.

VR is one of the latest technology tapping the surge in demand for co-working spaces in Bangalore. Launched in February this year, its in-house collaborative office is about 65,000 sq ft spread across three floors.

In addition to a desk and other paraphernalia, it also has a conference room, various entertainment facilities including access to a gym, private telephone areas and plays host to various networking events.

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