Co-Work

There is so much to consider when you start your own business such as, where do you base yourself? Hiring private office space for a new start up or freelancer is likely to break the budget. A Coworking space is an office environment used by multiple businesses and freelancers who rent and share desk space. An office environment filled by professionals with different areas of expertise. A Co working has become a well known and accepted concept in the mainstream office market. Coworking has been in vogue for a few years now and is becoming increasingly popular amongst freelancers around the world. 

BENEFITS OF CO WORKING SPACE
 

Cooperation through the community. 
One of the most appreciated advantages of working in a Coworking space is the environment that fosters and opens up for collaboration. With this in mind, spaces are designed in the premise of a high coefficient of common areas. Increasing demand for creativity and innovation in business has led to increased demand for shared spaces and effective co-workers. 

One of the most appreciated advantages of working in a Coworking space is the environment that fosters and opens up for collaboration. With this in mind, spaces are designed in the premise of a high coefficient of common areas. Increasing demand for creativity and innovation in business has led to increased demand for shared spaces and effective co-workers.

Space as a service – Generation and retention of revenue 
With the development of technology and changes in the market, changes to how offices earn money has shifted too. The perspective of the landlord, which has not changed, is a fundamental need to receive 
rent and retention from customers for as long as possible. Revenue of rental space requires minimum amount with more facilities. 

New technologies that enhance the members experience 
One of the factors that improves the coworking experience is the user’s convenience for members, allowing them to book and pay for services via their phone. 

Availability / Arrivals 
The idea is to have a homely atmosphere at a coworking space, especially for those who have a hard time going to and from the workspace. Heavy traffic has become a major issue in Malaysia, majority 
people now would prefer a co working space with flexible hours and a stress-free locations and environments at their convenience. 

Corporation Buy Coworking 
Coworking grew in strength by meeting the needs of small and medium-sized businesses by sharing costs and networking. However, large companies quickly saw the benefits of working in a common 
space. Working in Coworking offers not only a more economical alternative to the fast deployment of new teams but also access to the test environment of new ideas and the most important. 

Cost effective office facilities.
Who does not love top notch office facilities? It is even better when you get to pay lesser than you would have to if you are in your own space. Businesses nowadays would want to operate with a lower cost due to economy condition. Whole world is experiencing a downfall in the current economy. Some of the companies which provide co working space also gives an opportunity for the principal company to invest. Through this the smaller businesses would have lower issue when comes to capital source. 

Cultivates entrepreneurial spirit 
Startups can be a lonely journey. To be able to connect with like-minded people would really charge up your positivity. Being in a co working space helps to produce more ideas and lead to an expansion of a 
company through multiple sources. Working in a company with different people from various backgrounds and knowledge may contribute to a betterment of all including the principal company and also the co working company. 

Networking made easy 
Since you will be meeting people from different background, the chances of having future collaborations with other startups is high. Company may expand and known to the worldwide faster.

Boost creativity 
Roadblock at work can be overwhelming sometimes. You need an amount of time and energy to figure out solutions or come up with ideas. Hence, to be in a collaborative environment is great for suggestions 
or practical quick fix, when you need one. 

Access to Community & Networking 
There is always plenty of scope for networking and collaboration on projects between coworkers, and it is the kind that come naturally – no forced networking or awkward approaches necessary. 

Easy to join and set up anywhere 
Finally, for freelancers that travel a lot or have the urge to give working abroad a go, coworking spaces are an excellent way to instantly set yourself up in a new city, build a network and make friends. In a 
world where many are now seeking less location dependent work and more flexibility, coworking is an innovative and progressive way of aiding in this.

Besides the benefits of Coworking space, there are challenges faced. Below is the survey chart by deskmag: