The Rise of Coworking Spaces: Reshaping the Way We Work

Coworking spaces have been quite the trend in recent times due to being a revolutionary alternative to traditional offices. A coworking space comes equipped with all the amenities required by employees to work productively and at peace. A spacious conference room, hot desks, and dedicated desks coupled with a cozy cafeteria to catch up with your colleagues at the backdrop of a laid-back office are what co-working spaces present. The main difference between a coworking space and a traditional office is that the latter owns the entire space itself. However, coworking spaces are shared by different individuals either working for a company or independently. It creates a collaborative environment where people from different professions work, interact, and are also able to benefit from networking opportunities.

Traditional office spaces have to either be acquired or leased out, both of which are pretty costly. On top of that, decorating and maintaining your office space adds more to your costs. Hence, a shared workspace comes across as a smart alternative to traditional offices, where an elegantly decorated space is all ready for you to work in, that too, at an exchange of quite affordable rates. 

Coworking Spaces Mushrooming Globally

Due to coworking or shared workspaces being highly cost-effective, it has become extremely popular among startups and SMEs since it is difficult for them to deal with the huge costs that come with acquiring or leasing out an individual office space. Besides, the rapid growth of freelance or remote workers and work-from-home opportunities have also added to the popularity of coworking spaces. The majority of the individuals who worked independently from their homes found themselves surrounded by distractions, which in turn hampered their productivity. Hence, scooching oneself into a corner in Starbucks or any other coffee place with a laptop to get work done became common practice. However, huddling in a small corner in a coffee shop doesn’t help much as you are still surrounded by the public. Thus, remote workers too, to retain their productivity as well as take advantage of a comfortable private office willingly started to join coworking spaces. 

The worldwide coworking space market was worth $14934.53 million in 2022 and has an expected annual compound growth rate of 17.28%. Some of the key players in this rapidly growing market are WeWork, Mix Pace, Techspace, Knotel, Impact Hub, and Regus amongst others. 

Workstation 101: An Ideal Coworking Space

Catching up with the global trend, the concept of coworking space in Bangladesh is steadily gaining popularity. In addition to that, soaring rent prices have made it difficult for companies, especially startups and SMEs to get their own office space. Hence, to help small ventures save big, coworking spaces like Workstation 101 have come into existence.