More than 2.50 lakh COVID-19 cases have been reported in India, and the numbers are getting even worse across the globe. We have been staying home for the last three months, and with all the uncertainties and confusion, companies are managing to sustain with work from home scenarios.
However, the Government has started giving relaxation in the lockdown guidelines, and IT companies, public sector, and other businesses are now getting open with minor strength at workspaces. Everybody knows that work from home was a temporary solution to keep the work going, and now startups and small companies need a workspace, where they can schedule their day-to-day meetings and primary teams. This is the reason why coworking space is now getting more proposals for office spaces in the long run.
Industry experts are prophesying that by the end of July 2020, more and more coworking spaces will be formed due to higher demands and huge market opportunities.
Most people also believe that once the lockdown ends, SMEs would plan more focus on cost optimization and prefer adaptable workspaces. They will avoid major capital expenditures and switch to coworking office settings to grow their businesses.
When it comes to the market predictions of co-working spaces post lockdown, it is going to increase by around 40% in the Asian Pacific as compared to other areas. Additionally, in India, the growth of shared office spaces is expected to reach around 50% as per the JLL India report.
Over 13 Million people are going to switch to co-working offices and the investment in India will grow up to $400 million.
So, what is in the box for the co-working industry post lockdown in 2020? Let’s dig deeper and identify the scenario, which will push the growth of shared working spaces.
Physical distancing is crucial during the COVID-19 crisis. Hence, co-working companies are planning to revamp their work settings with better and bigger spaces for a different team. While it’s too early to predict the infrastructure, it is also obvious that clients along with the Fully furnished space providers will be breaking into smaller teams, rotational working policies, and smaller meetings to keep the environment less occupied and safe for everyone around. With dedicated cabins, conference halls, and lesser employee strength, reduction in the crown will definitely be seen in the coming months.
In order to adapt to the new normal, companies are now considering necessary measurements to avoid any health issues and spread of the virus within the premises. Similarly, startups and teams who prefer coworking spaces will choose the space where hygiene and safety are not being compromised at any cost. More and more coworking companies are including costs planning for hygiene measurements, sanitization, screening, and cleaning services on a regular basis.
Work from home has been adapted quite well by the businesses in India, but that somewhere stops people from working in a collaborative environment. Co-working companies Indore now have a great opportunity to pay attention to an activity-based environment where employees can collaborate, meet, and brainstorm ideas through small meetings and fun activities. This can also be a fresh and considerable option for companies looking for motivation and team spirit after lockdown ends.
Being a capital-intensive industry, co-working is evolving with the help of technology and real estate investments over the tears. The Indian government has been praised by international media for successfully restricting the spread of the coronavirus, which was not expected from a country having the second large population in the world. This has made UK & US investors take an interest in the infrastructure, and thus, more investors will be partnering in creating technology-based office spaces, allowing the companies to achieve better growth in the coming years.
Due to the ‘work from home’ situation in the past few months, co-working companies are now adapting virtual office solutions, where companies can utilize the necessary services remotely and continue working from home. Virtual office facilities may include a professional business address, in-house receptionist, cloud solutions, and monthly meetings with clients, etc.
Not only this, but large budget startups can go for personal cabins and conference halls by increasing the amount and annual fee with a well-known co-working company in a prime location.
Behavioral and physical changes after lockdown are normal for the world. Thus, co-working spaces need to optimize office space at a faster speed. Sanitation, cleanliness, and bigger working desks should be the priority in the process of shifting the coworking framework for better growth.
The concept of co-working space is for people who crave convenience and flexibility but are also aware of the fact that being around the team boosts performance and productivity. While lockdown has majorly affected the economy, evolving and redefining the workspaces can make a huge difference for the co-working spaces along with the startups that cannot afford high rented offices, especially in prime locations. Co-working space providers should now rethink their approach, especially in the workplace, interior, and safety areas to make the segment more attractive to the customers.
Moreover, some companies that have already started revamping the entire co-working strategy, keeping the post lockdown effects and measurements in mind. If you are looking for a shared office space in Indore, then Sky Space Co-working is there to help with the most amazing workspace solutions at one of the prime locations in Indore. Providing fully furnished workstations, where you can work with like-minded people without having to worry about hygiene and health issues. Our interior and prices are designed to suit all types of business, be it a startup or a well-established company, looking to start a new office in the city. We are taking specific measurements to limit the COVID-19 spread and helping you collaborate and innovate with your team in a hassle-free manner.