Co-working spaces were once limited to freelancers and small start-up companies without their own private offices. Though the majority of co-working spaces are still dominated by freelancers, larger companies and global players are starting to take notice – even established companies are hoping to penetrate into these collaborative work environments to gain fresh new talent and insights for their business.
A Popular Model in Singapore
Office spaces in Singapore are especially attractive for the co-working model because it allows start-ups and like-minded entrepreneurs to connect with their staff and other collaborators without investing too much into real estate. Co-working offices allow for short-term rentals – anyone can rent an office or a desk space on their own terms, whether it is for a year, a month, or even a day. Some co-working spaces even allow hourly rates.
Co-work spaces are especially useful for dynamic industries such as web design, fashion design and even fitness – there are co-working spaces that cater especially to fitness businesses, such as freelance yoga instruction. Small businesses with relatively limited starting capital are able to expand and grow their business in a sustainable manner, then move on when they become more established.
A Unique Experience
Co-working is a unique experience for many professionals, as it allows for greater networking and collaboration than before. The co-working scene comes with its own networking built in, as everyone has easy access to others working in the building. They can exchange ideas and collaborate with ease, without the walled-off effect of working in traditional cubicles.
Co-working spaces are also ideal for jet-setting professionals who travel the world as part of their business dealings. It provides them with a welcoming, comfortable and productive environment without the hassle of maintaining a permanent office space.
Co-working spaces will continue to rise, especially in growing economies like Singapore. As young professionals become more competitive, co-working offices are likely to keep meeting the demand for collaborative spaces.