India has embarked on the journey of becoming a digital nation with a self-sufficient start-up culture. With new incentives and better policies, most businesses in the country are projected to grow exponentially. This government impetus for businesses and SMEs will also give birth to a new breed of innovators and entrepreneurs.
Every budding entrepreneur who is looking to set new benchmarks with their innovative ideas, services and products, has one thing in common–they are all looking at setting up an office. Creating a dedicated office space is a significant step towards giving a solid base to both the business and employees. Any employee’s top priority is to be at a workplace where he/she can be most productive. However, being at an early stage one might consider something smaller, cheaper or more flexible. This would lead you to choose between renting a coworking space or leasing an office. Finding it hard to make this decision? While you work in full throttle for your business idea to boom, we have narrowed down a few things that’ll provide you with some clarity about the challenges you might face if you are thinking about a coworking space as an option for your business space needs.
Stability Matters
If you are starting your business with a team of 15, you might think coworking as the perfect place to start off but gradually when your company starts growing, you’ll feel the need to have an individual office space. Reinvesting your time and money in searching and setting up everything again doesn’t sound too interesting, right? Also, coworking spaces are definitely not your pick if you are looking forward to a permanent office address, no matter how big or small. Instead of splurging money on a coworking space which you cannot even call entirely yours, renting an office offering a permanent office address seems to be a more sustainable option in the long run.
Branding
Branding is one thing that makes your business stand out among others, helping your business gain a unique brand identity. The ‘look and feel’ of your workplace is something that makes anyone instantly connect with your idea and values, be it a potential employee for an interview or a business client visiting you. Won’t you like to weave in your design and creativity to create something that represents solely you and your business? Well, coworking space won’t allow you to do that. From interior designs to a music playlist, everything will be as per coworking space or all the tenants collectively, nothing specifically of your choice. Thus, a personalized space becomes another prominent factor that makes you cherry pick a rented office space rather than a coworking space.
