February 6, 2020
5 Reasons why Coworking is Perfect for SMEs in Singapore
Coworking has grown into a global phenomenon. More than 5 million professionals will be working in coworking spaces globally by 2022. What's the appeal of coworking for SMEs?
In case you haven’t heard, there is a great way of working in town
Fashioned since 2010, the idea of coworking is a collaborative work-space, where companies and individuals come together to enjoy greater productivity and a sense of community.
Since then, coworking has grown into a global phenomenon for self-employed professionals, SMEs and even large corporations such as Citibank, Microsoft and Salesforce. In fact, it has been projected that there would be more than 5 million professionals working in coworking spaces globally by 2022.
What is the appeal of coworking spaces?
Here are the five reasons why coworking is perfect for businesses in Singapore.
Why Should You Consider Coworking
- Inexpensive Way to Elevate your Business
- Hassle-Free Office Solutions
- Flexible Open Working Concept
- Elevated Working Experience
- Community Events
1. Inexpensive Way to Elevate your Business
Coworking is a great way to elevate your business presence.
Aside from being more affordable than the traditional office spaces, some of the best coworking spaces in Singapore are located in prime locations and feature beautiful designs similar to likes of Facebook and Google offices.
Having an elegantly designed office space is a great way to impress your clients and add credibility to your business. It increases your brand value and helps you in your pricing strategy especially when you are looking to increase margins for your business.
2. Hassle-Free Office Solutions
Coworking is a far more flexible office solution as compared to traditional workspaces.
With today’s dynamic workforce, it is difficult for SMEs and large enterprises to manage their office space needs. Fortunately, signing a coworking space agreement is akin to signing a mobile phone plan service. Companies don’t have to commit to long lease terms, pay for legal fees or stamp duty. It is easy, simple and hassle-free.
In addition, businesses can choose to increase their office space with little hassle every time their team expands.
Most importantly, you will be able to focus on your core business functions without worrying about miscellaneous office bills such as utility bills and infrastructure costs. You won’t even need to hire a receptionist since most coworking spaces have receptionists to help you such as mail and packages services.
3. Flexible Open Working Concept
The concept of digital nomads have been picking up over the last few years by professionals especially designers, consultants and marketeers.
Since they are mostly on the go, these professionals often crave open and flexible working formats which is one of the biggest reasons why hot desking appeals to them.
On the other hand, more and more companies are beginning to explore the concept of hot desking due to its flexibility and unique culture. Studies have shown that teams who work in a coworking environment are more inspired, effective and sensitive to business opportunities and threats.
4. Elevated Working Experience
It is fun working in a coworking environment.
Unlike traditional offices, it is exciting when you work in an unique shared environment consisting of like-minded professionals coming from different industries. This gives rise to new insights, new experiences and possible collaborations.
Aside from its unique working culture, most coworking spaces also feature better facilities such as beautifully designed workstations, well equipped pantries and elegant washrooms.
All these little comforts add to a better working environment that lead to higher job satisfaction within your team.
5. Community Events
Whether you are a lonely entrepreneur or a business owner with a sizeable team, it is important to build connections beyond work meetings.
Coworking spaces regularly provides member events off working hours such as networking sessions, mind-provoking seminars and festive holiday celebrations that keep your working life pumped.
You are more likely to attend such events since the events are within the same area where you work. In addition, it increases team cohesiveness and helps them to maintain a better work-life balance without any planning on your part.
Redefining the Way People Work
Coworking is redefining the meaning of work. It is becoming into a norm and is a perfect office space solution to any business in Singapore. As a business specializing in digital marketing services in Singapore, we feel coworking is the perfect office solution for our business needs.
What are your thoughts on coworking spaces? Which coworking space are you currently residing?
Be sure to share with us in the comment section below.
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