Businesses keep growing and changing continuously. No two days, or weeks or months in any organisation are the same. Your style of working and operating would have gone through a metamorphosis, since you commenced operations.
The business and commercial environment, in India has been growing healthier over the recent past. Especially in the large metro cities, like Mumbai, Bangalore, where industrialisation and economic growth has taken place at a rapid pace.
Naturally the need to rent serviced office space and co-working space has increased dramatically. Companies are still unclear about the difference between the two. The below points will make the distinction clear.
Co-working is a rising global trend, no longer considered a new phenomenon. A range of facilities are available at co-working spaces, which you should always check for, before signing up with one. Amenities like high speed Wi-Fi, professional reception facilities, on-site parking, tea and coffee machines and a fridge should be standard.
Now, serviced offices have amenities as well, but choosing between serviced offices and co-working space comes down to deciding what is right for your business. Co-working spaces are great when there are less than 3 people involved. Any more people and you would need a serviced office space.
With a serviced office, you can put a large signage on the door to reflect your branding. Office spaces also come with meeting rooms, for holding conferences and presentations.
When it comes to choosing between the two, the below points will make the choice easier.
1 If you have a number of client engagements and meetings, it makes sense to rent a serviced office, as they come with dedicated meeting rooms.
2 Do you require a single cubicle, or an entire office. The former requirement can be met by hiring a co-working space.
3 What are the list of amenities that you need. Some serviced offices provide a comprehensive list of services, which should help you to get started without much further ado.
4 What is the duration of your usage? Are you going to rent the space long-term? If so, a serviced office might make a little more sense.
5 Is your company going to grow? Is your 2-man operation going to suddenly increase to a 15 member team? Choose office space, keeping your potential growth in mind.
Choosing a serviced office space or co-working space, is an important decision, because after all, where you work out of makes a big difference with regards to everything, including productivity and the impression you leave on clients. Doing credible and relevant research, before renting out a space, proves beneficial and prudent, preventing any hasty ill-informed decisions.
If your company requires space to work, consider renting and not setting up infrastructure from scratch. Renting allows you to gain access to extra amenities, which would otherwise be difficult to set up. In today’s day and age, when business is dynamic, it makes sense to make a well-informed decision, with regards to your work space.