In the modern era of businesses, people need to downsize their operations to their most fundamental elements to earn a neat profit. With rigid competitiveness, and extremely challenging margins; the service sector in India is immensely saturated. Only the biggest corporations and enterprises can afford to invest large sums on individual office establishments across different cities to expand commercial interests. However, coworking offices spaces are a unique way for even a single entrepreneur to establish and work within a similar professional environment as their larger competitors. The development of such unique facilities led to smaller entrepreneurs and startups having the needed facilities and resources to be able to expand their work and productivity; while cutting down on investments and running costs.
The primary reason to work out of a proper coworking office space in cities like Mumbai is to establish a corporate image without having to invest heavily. The most basic corporate office in a notable commercial area like Dadar or Vikhroli would cost several lakhs each year to maintain. These costs include expenses ranging from the salaries of various staff and service personnel; to needed utilities, amenities, and different taxes; each cutting a large chunk out of the profits. This led to the development of a new frontier in the business of rental offices and professional facilities. Known as business centers or virtual office spaces; it allowed smaller enterprises compete with bigger companies, while providing the same level of professionalism and corporate presentation. From small cabins as 1-4 meeting rooms, to large conference rooms and fully serviced office spaces; these business centers provide companies and independent contractors from different backgrounds the perfect professional environment.
One of the key advantages of working out of coworking office spaces for smaller enterprises is the fact that there are so many necessary professional service providers under one roof. Often, people from different qualified backgrounds need to consult or co-ordinate with experts from a completely different field or industry. In a proper business center in Mumbai, it is common to find several accountants, lawyers, engineering consultants, software and IT professionals, and variety of other service providers and entrepreneurs. For any business, this makes available a constant flow of help and services close at hand without having to maintain individual payrolls. Availing of different services and solutions becomes as simple as booking an appointment over the shared central reception desk during a convenient hour of the day!
Another distinct reason for the rise in the popularity and presence of coworking office spaces in large cities around the world is the rising importance of CBD addresses. A Central Business District address on your business card or company registration adds a distinct mark of establishment and professionalism to your brand. These are specific zones in big cities like Mumbai and Bangalore, recognized for the presence of different trades and large companies. If your business can hold an establishment in such an area; it reflects the stability and productivity of your business. Additionally, such business centers also offer facilities like proper parking space and technology related solutions affordably; which are quite difficult to avail in any core business district without heavy investments or a continuous drain of funds.