Modern Business Office Spaces are Turning Virtual and into Collective Units

The modern business world is getting populated everyday with the number of startups and entrepreneurs mushrooming. On the other hand the space for the businesses to getting squeezed, as well as expensive.

Thus to fight the space and cost constraints, the new age entrepreneurs are opting for virtual spaces and co-working spaces instead of growing an empire and fighting the cost every day.

Not only the small companies are entering the co-working space model but also big companies are making their move into the sector because they see a huge untapped opportunity in this sphere.

The smart move that is the virtual working space, which many are not aware of, except those who belong to metro cities, here is what Nakul Mathur, MD, Avanta India, based workspace providers, explains about them:

The pros and cons of virtual office spaces

While not many are familiar with the presence of virtual office space in India, Nakul mentions some of the pros and cons of it.

Nakul adds, “Start-ups are generally run by a handful of people who are always on the move to generate business. In such a scenario it does not make sense for them to have a physical office and spend a part of the capital on it. These people opt for virtual offices that take care of their communication needs.

“There are many pros of having a virtual office if your pocket does not permit you to have full-fledged office set up. It saves you cost -- electricity, internet, office boy etc -- and also the tension of renewing the contract that in many cases require rental hike every year. As such there are no cons of virtual office apart from the fact that you might need physical space some time which is not available in virtual offices. But this con is also taken care of by co-working spaces that provide an option where you can hire space on everyday basis as and when it is needed.”

Why remote workers love co-working spaces?

Co-working spaces have gain popularity in metro cities like Delhi, Mumbai, Bangalore and Hyderabad, slowly the model is penetrating into the smaller towns and cities, where many entrepreneurs and startups are mushrooming and big brands are entering to firm their roots.

Nakul elaborates as: “Work trips are more likely to be another segment of job a person nowadays has to deal with. With several meetings and events aligned in different parts of the country, it is mandate for a person to shift from his comfort zone. And here comes the need of a co-working space. Getting an equally comfortable shared space to work in an alien city makes a remote worker fall in love with it.

“Moreover, the option being quite cost-effective attracts more traction towards itself. Also, if one travels to specific cities regularly then buying office space or renting traditional office space is an expensive option and hence, these (remote) workers can go for hiring co-working spaces because of the affordability and plug & play system.”