Why do midsize enterprises choose co-working?

To begin with, in my opinion, this article would be pointless without defining the term “midsize enterprises”. Midsize enterprises are organizations having annual revenue ranging from $50 million to $1 billion, employing 100-1000 workers.

Co-working spaces, as we see today, are not products of the modern era. It’s a variant of the centuries-old Bottega system of the renaissance era of the 15th century. Nowadays, most midsize enterprises choose co-working over other alternatives like individual office spaces and more recent ‘work from home. Let’s see what makes such co-working spaces glamorous to the midsize enterprises.

1.An arena of chance and opportunity

Co-working spaces mark a unique blend of people from different workspace cultures converging in a common space. This includes all types of people, including the successful and influential.

What does it mean to you? Well, it means a lot of things. Co-working spaces could be interpreted as an arena offering important and far-reaching connections needed to propel your business forward. Sometimes, what a midsize enterprise probably lacks is proximity to other successful business people.

Therefore, co-working spaces offer enticing networking as well as quick collaboration opportunities.

Furthermore, co-working spaces are factories creating personalities. Along with dynamic collaborations and a vast network web, it offers a space to hone one’s skills and capabilities. It’s worth considering that Leonardo da Vinci acquired his skills as a young artist by working at the Bottega of Verrocchio in Italy.

2. Extracting productivity

Let’s start from the usual scene of our home: Kids crying, pending chores, a club of platters waiting in the sink to be washed and the pressure cooker endlessly whistling in the kitchen. This household cliché could be classified under a broader term- ‘distraction’.

So, what can co-working spaces offer you? Indeed, it offers you a peaceful workplace free from distractions. Such spaces aid us to turn ourselves into a “work-only mode”, offering an indescribable rise in our productivity levels.

A 24×7 accessible workspace along with unlimited coffee supply- highly provocative, isn’t it? Who’ll ever afford to witness such a preposterous offer slipping off from their hands?

3. Bursts of creativity

Co-working spaces are indeed a respite from work from home solitude. It offers not only a peaceful workspace but also mind-refreshing, alternate solutions to keep ourselves physically, mentally and emotionally fit.

For instance, The Playce, a co-working space located in Mulund West, Mumbai where India’s first-ever official Quora meeting was held in India, offers a ‘gaming zone’ to its members.

Such attractive facilities offer their members a break from their jam-packed schedules, creating spaces for self-rejuvenation and relaxation. Furthermore, it acts as therapeutic, moderating workspace stress and a virtually never-ending to-do list.

4. Economic efficiency

Shortage of funds is the most fundamental problem faced by midsize enterprises. Choosing co-working space over office spaces drastically reduces the operational cost of the enterprise. Subsequently, it provides diverse and state-of-the-art office infrastructure including printers, Wi-Fi, conference halls, and coffee corners.

Moreover, co-working spaces are equipped with timely refreshments and beverages at a fixed monthly rate. For instance, The Hive in Chuim village, Mumbai offers a plethora of mouthwatering dishes for its members. Mathias Schuermann in her work, “Co-working Spaces” argues that the cost versus value received is the best in co-working space as the costs are carried by the community as a whole.

What else should make co-working spaces appear more attractive to midsize enterprises?

5. Flexibility and ability to expand

Other than economic competitiveness and collaborating opportunities, what midsize enterprises aspire for is flexibility. Most of the co-working spaces could be rented at short notice.

Furthermore, membership could be withdrawn at any time by the enterprise, ensuring trial opportunity. Some co-working spaces are accessible 24×7 while others offer work during the day and party at night, like Colaba Social in Mumbai.

To sum up, co-working spaces can offer you more than what a monotonous life in an office space or work at home solitude could provide you. Alongside wide networking opportunities, increased productivity and rejuvenating solutions, it also offers cost-competitiveness and workplace flexibility.

The Playce, The Hive and Colaba social are living examples of such modern Bottegas. Spending a day working in these factories producing personalities will be worth it.