Takeaway: Leasing a traditional commercial office space usually requires signing a lease agreement for two to ten years in length (five years is typical). A deposit is also required regularly. Depending on state or provincial laws and how a lease agreement is structured, getting out of a trade agreement can be difficult and expensive, especially if space is not much needed.
On the other hand, the place you work for is treated as a club membership – the space is rented monthly, and some providers offer weekly, hourly, or even paid options. From a cash flow point of view, the workspace is ideal for start-up entrepreneurs looking for a suitable place to work without high prior costs and long-term commitments.
The flexibility of the coworking space can also be beneficial to a growing business start-up. Hiring more employees is as easy as adding membership. There are several great coworking space in Mohali which provide a perfect work-life balance.
Benefits of coworking space
1. Connect with people
One of the most common benefits of working with people is communicating with people you would never meet. Part of this comes from working with young people daily, but social media is also built into workplace solutions like BiggBang.
Monthly social networking events are an easy way to find new participants and apply your contact information. Simultaneously, a series of workshops, yoga classes, lunches, and annual markets help you turn those entries into lasting relationships – and perhaps a new business.
2. Reduce loneliness; increase communication
When some work from your living room, the spaces you work around surround you with a professional network and reduce the occasional separation associated with working at home.
Recent research shows the importance of small, seemingly insignificant communication with our sense of belonging; that friendly conversation with a barista, postman, or neighbor can increase happiness. This connection is a fabric that binds the communities we work with, and everyone – from the person who greets you when you arrive in the person sitting at the hot table next to you – adds to this sense of belonging. Even outside of organized community events, you will find that inspiration flows in a vibrant, busy environment with your colleagues.
3. Access to shared and private spaces
By design, the spaces you work in are much higher than your standard office: No cubicles here. Between the expandable lounges, the appropriate heated tables, the private glass-enclosed offices, and the wall-mounted conference rooms, there is plenty of space for teams to come together. Private production with headboards is also possible, with meeting rooms that can be booked and organized private offices.
4. Flexibility and cost savings
Whether you are an independent person looking for space to pull or an established group looking for a dedicated desk or private office, working with people allows you to pay for only the space you need. Also, flexible contracts mean that you can measure your speed without the pressure or tightness of traditional long-term leases — and this flexibility is essential for growing companies.
5. Remote access
With workplaces located in major cities around the world, the ability to enter at any time, anywhere, is a major attraction for the professionals they work with. Working while on the go is available very quickly if you know that there is access to WiFi, a comfortable working environment, and essential office supplies like print and coffee just when you swipe the card. Employers can also choose to hire the best talent, no matter where it is, without the cost of relocation or fear of remote workers who feel isolated. You can also find an office space for rent in Mohali.
6. Improved productivity
From the morning session until 3 pm, your concentration and strength levels fluctuate during the working day – and your workplace should accept this. Often, collaborative spaces cover multiple workplaces to find a variety of work styles. Offering a greater variety than the traditional office, the more massive structure compared to working from home, working spaces, and people are designed to produce. Progress reaches quickly in deliberately created spaces, while intangibles such as background music, natural light, and moderate air temperatures keep you energized and refreshed.
So, why not work in a coworking space and increase your productivity?