The Rise and Rise of Shared Offices in India

Shared Offices. Two words that are revolutionising the way people work across the country. The entire work culture has been transformed. You see fewer people going to private offices or cabins. Instead, people walk into an office that’s shared by three or four or more executives from different businesses. Your colleagues are constantly changing. The scenario is not unsettling. On the contrary, it’s exciting. You meet people with different perspectives. You broaden your horizons. And, most of all, it makes great business sense.

Several factors are driving the phenomenal growth of Shared Offices in India. Millennials, who make up a significant percentage of the workforce, just need a place where they can put down their laptops and plug into the internet. They can’t make a large capital outlay. They don’t want to enter into long term commitments. They are here today, there tomorrow. Shared Office spaces in Mumbai, particularly, are the perfect answer to their needs.

By far the fastest growing usage of Shared Offices is by startups. India has the largest startup economy in the world, after China and the US. New and young entrepreneurs are opting for such spaces because of the high flexibility they afford and the convenience of setting up an office without too many administrative hassles. The greatest magnet, of course, is affordability. Office spaces in Navi Mumbai, for example, are in increasing demand,

The corporate sector is turning out to be greater use of Shared Offices than before. This is because the concept of core + Flexi offices form a good strategy. Many corporate houses, thus, maintain traditional offices but also take up space in Shared Offices. This allows companies the flexibility to enter new markets or launch new teams to expand their business while still keeping their traditional offices running. They can hedge their bets, test the waters, without risking too much capital in the initial stages. This demand by the corporate sector is giving rise to a significant requirement. Some business centres are transforming into managed spaces where they offer all or part of their centre to a single company, who, in turn, is looking for quality space with flexibility—a Shared Office for employees of one company. Business centres in Navi Mumbai are offering such spaces to companies who literally want an office without having an office, thus saving the cost of a separate office. Virtual Offices in Navi Mumbai also cater to this need.

With economies playing on the minds of both new and established businesses, the demand for Shared Offices is estimated to grow exponentially in the near future.

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