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Thursday, 8 May 2014

Growing Indian Start-up Community and the Importance of Coworking

Tagged as the fastest growing economy in the world, India has an increasing number of emerging start-ups today. The prosperity of our economy gives a shining opportunity for all those wanting to grow in the start-up scene. The city of Bangalore, in particular, situated in the southern zone of the country, is one of the most preferred cities to begin a start –up in. Being tech savvy and on par with the silicon valley, many new business ventures begin from Bangalore every year. The increase in investors and unique start-up ideas is working best for the country in the current situation.

With the growing start-up community in the country today, one of the best feasible options for them is co-working. Many new business ventures want to reduce their costs incurred so that they can increase their profits two fold. Purchasing or renting an office space can be very expensive and not a very convenient option for them. This is why coworking spaces like the Bangalore Coworking Hub provides a unique opportunity to these start-ups to lower their business liabilities and increase their profitability. In addition to this, our coworking community also serves as the perfect platform for professionals, lean start-ups and emerging businesses to interact, network and connect with other members within the community.

A co-working community has the power to increase productivity and profits of new business ventures. When costs are flexible, you have more confidence in taking risks and going big with company decisions. Here are a few benefits which will truly help the start-up community when they adopt the co-working method:

Low Costs

When a start-up company is just about to kick start, one of their primary concerns is to find a good office location where clients and customers can be invited to. If your budget is small, you may end up with a shabby office in a very inconvenient location. You can avoid this by investing in a professional shared office space like Bangalore Coworking Hub which provides a range of amenities and facilities to lower your operational costs. You will only have to pay for the space being utilized according to number of employees.

Networking

In co-working spaces, you have many other companies of different sectors working along with you. There is a strong possibility that one of those companies will become potential clients or customers. Other than that, you will also get to make contacts from diverse sectors, which can help you in the future. For a new business venture, networking is very important in order to spread awareness and make helpful contacts. This feature can be particularly beneficial to the start-up community.

Flexibility

Start-ups have the opportunity of choosing from a number of membership options at the coworking community. This flexibility is very beneficial as they do not have to enter long term rental and lease agreements. There wouldn't be any apprehensions in paying according to the company’s status in the market. This will be hard in individual office spaces since you have to pay complete amounts without much flexibility.

Innovation

Staying under the same roof with various people helps you to connect and share information with them. Sharing knowledge helps you to get new ideas and strategies for the functioning of the company. You may never know when you find the next new start-up idea just by co-existing with other companies.


When you invest wisely as a beginner you will invariably increase your profits. The emerging start-up community should adopt co-working as their first preference to make a significant mark in the industry. If you are an entrepreneur or a launching start-up, then opting for a co-working space can help you to reap immediate as well as long term benefits.

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