Mumbai is considered as the financial hub of the country. Even before the venture called “Make in India” was initiated by the Prime Minister Narendra Modi, Mumbai was witnessing the taste of success in terms of startups. Many innovative entrepreneurs who have selected this city as their startup place are currently in the peak position in their respective segments. Companies like Purple Squirrel, Quikr, Ola, Hola Chef, etc have chosen this city as their beginning point.
The growing popularity of the co-working or shared office space in Mumbai is also responsible for the process of making this city startup-friendly. Before going to the depth of this topic, one must understand what a co-working space is.
Coworking refers to a working area being shared by multiple companies and individuals. While you do not get a full-fledged private office, it brings along a multitude of benefits like affordable rent expenses, productive environment, networking opportunities, etc.
Mumbai, in recent years, has witnessed a sharp growth in terms of availability of co-working spaces, which has made it an attractive city for people looking towards joining the startup bandwagon. Below are the benefits that co-working offices provide over a traditional office setup and why the cities with an abundance of coworking spaces are considered to have a start-up friendly environment.
Benefits of coworking spaces:
Productivity
Imagine an office space not exactly like the typical corporate office but more structured than your home, sounds perfect? Coworking space provides its clients with this benefit. Working under a coworking space can be a productive way to improve your work and ability as many other goal-oriented people will surround one individual. This way the startupreneurs can explore the aspects of what does it really take to be successful in your respective business.
Networking
For any new venture, the initial phases of their business can be hard as they lack contacts and exposure in the market. Coworking spaces are an excellent platform for them as these shared spaces provide a friendly community of people from different industries. Being active in the community can help you secure some good clients or contacts.
Coworking spaces are not only useful in making contacts, but also assist you in promoting your business via word of mouth publicity. The relationship you have built in the coworking spaces can give you a head start in terms of leads. The shared office can be beneficial in providing exposure to your business in front of a diverse number of people.
Infrastructure
While selecting your office space you should understand the importance of a well-organized place that can make a good impression on your clients and team members. Coworking spaces in Mumbai are mainly designed by the professional interior designers to make it visually appealing and work-friendly. This space offers fewer distractions and more productivity in the work.
Better well-being
One of the essential things in life is to have a perfect work-life balance, which is often missing in the traditional office environment. The coworking spaces offer amenities such as gyms, canteens, yoga-studio, which are helpful to maintain a balance between work and life.
Harmony in the workplace
Individuals get many occasions in a shared workspace to surround themselves with like-minded people. Because of their diverse career backgrounds, the office atmosphere remains friendly and less formal. In a coworking space, the direct competitive environment is replaced with a collaboration-friendly environment.
Cost-efficient
For any startup, it can be overwhelming to run their own business. It has to consider many expenditures to run their own office. The coworking spaces provide them with almost everything they need to successfully run their office within a budget. It makes you free from the hustle of any other additional bills.
Many people come to Mumbai with big dreams in their mind to make their individual identity in the crowded world. Many startupreneurs are there on the list of “many people”. The demand for co-working space is certainly increasing as the days are passing by. The young entrepreneurs who are looking to cut down their cost, without making any compromises, are moving towards these coworking spaces. Mumbai, having a lot of them, proudly boasts a startup-friendly environment and also known as the third-largest home for the startups.