Indian prime minister Mr. Narendra Modi launched ‘Start-Up India’ initiative on 16th January 2016. Along with this he also launched ‘Make In India’ and ‘Digital India’. These three initiatives provided a huge success boost to the Indian market. Since the last few years, coworking has been quite successful and it has been an excellent alternative to home and traditional offices. According to a study by Deskmag, the number of coworking spaces has increased from 24% in 2014 to 36% in 2015. This is simply due to a number of benefits provided by coworking spaces. In the past few years, India has seen a rise of coworking spaces.
With Indian market expanding, the need for coworking offices has increased significantly. Commerce and industry minister Nirmala Sitharaman said that she plans to open up coworking offices in Mangaluru, Karnataka.
How the demand for coworking increased with Modi’s startup India push?
- Worldwide success– Coworking is a new business concept which has become popular worldwide. Coworking is not just for startups and freelancers. Even big multinationals are switching to coworking. The number of people working in coworking spaces has increased from 21,000 in 2010 to 11,80,000 in 2017. In India, coworking spaces like Hustle Cowork have made a huge impact and denoted the fact that coworking is the future of working.
- Indians ready for a change- Everyday new recruits are joining the workforce. The demand for traditional offices is decreasing because of its boring environment and lack of flexibility. Young recruits prefer to work in an environment which offers them creativity and freedom. Coworking spaces satisfy their demands. It offers them flexibility and an exciting environment where they are able to relax and be innovative. This helps to improve their productivity.
- Feasible infrastructure and facilities- With rise in prices of real estate renting a private office space can be expensive. Coworking spaces offer you affordable infrastructure along with added facilities such as wifi, unlimited tea/coffee, meeting rooms etc. All the infrastructure and operational support is provided to you so that you are able to concentrate on your main task i.e. improving your productivity. Hustle Cowork provides a coworking seat at Rs. 5,000/month along with facilities such as high speed wifi, free tea/coffee, conference room etc.
- Stress free environment- Traditional offices have fixed working hours and provides no room for creativity which reduces the performance of a person and make him/her stressed. Young recruits prefer coworking spaces as they provide breakout rooms such as lounges and gaming rooms where a person can relax for a while and be creative. Also coworking spaces offer 24 hour access which allows a person to work according to his/her convenience.
- Future of working in India- Earlier work environment in India was not that good. People used to migrate to other countries to work. But with prime minister Modi’s ‘Start up India’ push work environment in India has seen a new change. It has boosted the demand for coworking spaces in India. With so many benefits provided by coworking offices it is easy to say that coworking spaces are here to stay in India.
Coworking spaces like Hustle Cowork provide great network opportunities, flexibility and an amazing support to startups, freelancers and other corporates.