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Why A Coworking Space Is The Right Place To Start A New Business
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Establishing a new business is a challenging task, and in the highly competitive world of startups, every little step can either make or break your initiative. One of the biggest challenges involved in setting up a new business is the investment required to set up an office space. For a cash strapped startup, it is not possible to make heavy investments in purchasing or leasing an office space until it is sure to succeed.
Fortunately, coworking spaces provide such new businesses the ideal environment to get started. Here are some reasons why a coworking environment is the perfect workspace for your new startup business:
Zero setup and operational costs: Unlike an established business, startups operate on a tight budget. However, this limitation should not affect your business’s reputation adversely or keep your investors from taking you seriously.
A coworking space provides your startup business a professional working environment, fitted with adequate amenities like workstations, secure internet connectivity and even access to conference rooms. A coworking space is already set up and accessorized with all the essential services you will need to run your business. There is no wastage of time in setting up the office space – just get your computers, go online and get to work immediately.
Additional expenses for facilities and amenities are also borne by the coworking space provider – all you need to pay for are the rental costs, which include workspaces and the services provided in the shared office facility.
Complete flexibility and real-time scalability: Especially at the initial stages of setting up a new business, your team size would be quite small to ensure maximum efficiency. A conventional office space will not allow you to cater to such a small team, and you would incur unnecessary additional expenses by hiring out a large office for a few employees.
However, a coworking environment lets you rent as many workspaces as you need – letting you accommodate your team – no matter how small or how large it is, and pay for exactly those many workspaces. Expand or contract your team size as your needs change, and pay for as much office space as you need on an ongoing basis, without incurring additional expenses or any delays.
Access a professional startup ecosystem: Coworking spaces not only provide businesses a professional office environment to operate out of, but can also offer them access to incubators and accelerators through strategic partnerships and tie-ups. At some coworking spaces, you can also network with professionals with prior angel funding experience as well as marketing strategists, who can offer guidance and support to develop your idea into a successful business venture.
What makes it even easier to find the right coworking space for you is the existence of online aggregator portals like Spacewhiz.com which helps you select your ideal coworking workspace based on budget, location and team size.
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