Co-working space is the agreement done between various workers from different organizations or company share office spaces, allowing cost savings and widget through the use of common infrastructures. It is the business service that involves individuals working independently or co-operating in shared office space. Co-working space is the perfect option because it gives the aptitude to scale up or scale down in team members, there are low set-up costs due to sharing of common infrastructures. Co-working was first introduced by Sunshine Suites. The company opened its doors in October 2001, founded by Cheni Yerushalmi and Joe Raby.
Some facts about coworking spaces are mentioned below:-
- It is a strong deviation from the traditional concepts of offices – It still serves the same role of the offices which people are using now.While coworking operates outside the bounds of usual workplace governance, it’s still held to some of the same rules.
- The growth of coworking spaces are increasing rapidly and worldwide also – Coworking growth is evident in nearly every relevant metric, including the number of new leases, number of seats, dedicated square footage, and growth rate.
- Increase in social and professional networking – As businesses shift away from traditional office concepts, many people miss working alongside peers. Coworking allows for more contact with other professionals from different backgrounds.
- It is the new way to work – Coworking isn’t just here to stay—it’s here to thrive. Demand for coworking spaces will likely increase in the coming years. As remote workers realize the benefits of coworking, so too will the companies that employ them.
Co-working is perspicuous from business accelerators, incubators and executive suites. These spaces do not fit into the co-working pattern because they often miss the social, co-operatives and informal aspects of the process. In co-working space, management practices are closer to that of a co-operative, including a focus on community rather than profit.