The Rising Popularity of Shared Office Spaces

The trend of shared office spaces was almost unheard of in 2007, but since the past few years, collaborative workspaces have become popular with the emergence of millennials coming into the workforce. They are opposing the need to obey traditional office structures, demolishing 9-5 mindset, breaking down the typical corporate hierarchies and are reformulating business norms. Many millennials are becoming entrepreneurs, setting up their own start-ups and are shaping the trends of how and where we work. 

However, the rise in the popularity of shared offices is not entirely dependent on millennials. There are various factors making coworking spaces, the perfect fit for those who are looking for efficiency over tradition.

What is Shared Office Space?

A shared office space also known as a coworking space is a collaborative workspace where SMEs, freelancers, and entrepreneurs can enjoy the benefit of a well-furnished and equipped office space without having to commit to a long-term lease and the hidden costs it involves. The members of a shared office usually need to pay on a monthly basis to gain access to amenities like private working space, meeting rooms or special equipment.

The Executive Centre (TEC) for example, is a high-end, exclusive business centre offering unparalleled amenities and services to meet your business needs. All of its coworking offices in India such as the shared office space in Chennai are equipped with a productive atmosphere, state-of-the-art infrastructure and unmatched business concierge services, providing an elevated and flexible working experience.

Why Millennials Prefer Shared Offices?

Cost-effective: Start-ups and developing businesses do not have the funds to buy or rent an office space, making them inclined towards an effective solution. As opposed to traditional office spaces involving huge costs and long-term contracts, shared office spaces are a lot cheaper and generally require payment on a monthly basis. Therefore, more individuals prefer to go for a shared office space for rent rather than renting traditional office space to uplift their business.

Minimal responsibilities: Setting up a business in a coworking space means fewer things to worry about. Things like the pantry, furniture, cleaning, and maintenance are taken care of by the serviced office owner. This is one of the main reasons why millennials prefer renting over ownership.

Access to networking: Shared office spaces offer a productive environment with professionals from different backgrounds sharing one common roof. This not only helps in the sharing of ideas but also sparks creativity and innovation. Moreover, it serves as the perfect place for people to connect with like-minded individuals and widen their network. 

The Executive Centre’s coworking offices such as the shared workspace in Chennai is home to a pool of talented individuals who frequently interact with employees from different start-ups and thus, enhance their personal as well as professional relationships.

High-end amenities: Coworking offices are not just spaces to set up a business. They offer you much more. Some of the top-notch shared offices provide world-class amenities compared to the traditional ones. Be it high-speed internet services, modern resources to ensure smooth flow of operations or pleasant and cosy interiors to impress your clients, all these services will be offered right away, as you step in.

The Executive Centre’s serviced offices such as the shared office space in Bangalore has a distinguished address and is equipped with top-grade facilities required to empower your business.

Prestigious locations: According to a recent survey, it has been found that most millennials prefer to live in urban areas where essential resources like medical stores, grocery shops, restaurants and so on are easily accessible. Shared office spaces generally occupy distinguished locations of the city, making them a perfect fit for millennials. Due to this factor, millennials look for shared office space for rent in Bangalore, Mumbai, Gurgaon and so on, keeping in mind their desire to grow professionally in a city.

As a result, despite drawbacks like distractions, inability to customize and lack of privacy, shared officespaces are rapidly becoming the millennials’ dominant choice for a place to work.

Top Shared Office Spaces Myths

From startups to major businesses, having the right office space that checks all the boxes is a challenging task. In the previous decade, shared office space was a new and economical option for many companies. In recent times these office spaces are picking up the hype and have surged in popularity. 

As a matter of fact, many people are actually preferring shared office spaces rather than generic private space, for countless benefits that it brings to the business and employees. These kinds of spaces are known to bring out the best of employees while helping them experience a vibrant professional setting.

But some people still have their doubts about this modern professional setting. Some might even argue that an office that is shared is bad for the business and brings morale down. These preconceived notions can cause any upcoming business a fortune. 

Before you go and spend a large amount of funding for private office space, let us list down and bust all the myths of taking up a shared office space for rent. In this article, we have debunked the false notions about shared office spaces. 

1. Shared office spaces are too noisy and unproductive 

Oftentimes you would hear people compare a shared office space with a coffee shop or a crowded classroom. This is certainly not true. The only similarity a shared space has to a coffee shop is that the abundance of coffee.

Coworking spaces like these have a good number of open workspaces and private workspaces. All of this depends on what kind of business prefers which type of space. In a way, shared office space is just a large catalogue of different types of offices and rooms that suit any and every business. 

Also, many studies suggest that people tend to be more productive and energetic when they socialize and work together, so shared office spaces actually increase the morale and productivity of your employees. 

2. Shared office spaces seem unprofessional 

Serviced office spaces or shared office spaces are well equipped to be hospitable to any and all clients. These spaces have a specific set up that takes care of client visits, meetings and conferences, and other recreational activities. Generally, these spaces will at least come with meeting rooms, conference rooms, minimum amenities like coffee, recreation rooms, and a cafeteria.  

Spaces like these have a very attractive and professional business setting that will surely fascinate any client that comes to you. 

3. Coworking spaces are for start-ups and freelancers 

Sometimes these office spaces may portray a flexible and rather raw environment, best suited for upcoming companies and start-ups. The flexibility of such spaces makes it seem that freelancers and unbothered young professionals might thrive in this environment. That is true to an extent. A flexible office space does give you freedom, unlike private space. 

But even large companies love flexible settings and work routines that help them feel at their prime in such an environment. All the amenities, rules and regulations align with a professional space. So a shared office space experience is fun and better for your business. 

4. Coworking spaces are for techies 

Many tech companies have started using sharedoffice spaces. But this does not mean that these kinds of serviced spaces are for that niche crowd. The setting and environment of these spaces are built for any company that is not shy to cut expenses while exercising the flexibility of such an environment. Any company can adjust well in a shared office space, which helps their business grow.

As long as the company has a strong professional network, dedicated employees, and a vision to make it, coworking spaces will be the best option. 

Conclusion 

Yes, private office spaces may have their own perks, but shared office spaces are where you are part of a larger community rather than just your company. These kinds of spaces help businesses make contacts while teaching them a thing or two about management. So if you are thinking of getting your own serviced office space in India, then do not think twice. 

Best Locations for Business Centers in Bangalore, Chennai, Pune, Delhi, Mumbai & Gurgaon

One of the defining factors of a successful business is its location. No matter whether you are branching out your business to new cities or starting out fresh, a good central location where your clients can have access to your services is extremely important. So you should be looking for office space for your established company or your start-up, based on the location.

Apart from being close to your clients, the office space should also be close to your employees and transportation facilities should also be good. This helps conserve energy, and you find yourself able to focus on your business. It's not relevant whether you're renting the place or buying it; what matters is where you are choosing to operate from. Here, we are going to take a look at the best business centre locations in some of the major cities of India.

The Best Location for a Business Centre in Bangalore

Manyata Tech Park

It is located along the Outer Ring Road, at Nagavara in Bangalore. This is a very prestigious address when it comes to businesses so clients will remember your business easily. One of the best business centres to consider in this area is TEC (The Executive Center). It has spacious office rooms with minimum noise for a perfect environment in any workplace.

business centre in bangalore

Koramangala

Here, you can build one of the best business centres in Bangalore because it is considered as the start-up capital of India. This is the best place if you are serious about starting your business. This area is divided into 8 blocks but blocks 7 and 3 have some major commercial offices. 

Koramangala is well-connected with ample amount of transportation facilities to other parts of the city. Also, it has branches of all the major and minor banks, along with ATMs and restaurants. 

The Best Location for a Business Centre in Mumbai

Bandra Kurla complex

The rent in this place is about Rs 300 to 400  per square feet, which is cheaper compared to other parts of Mumbai. This place is built, in view of the easy commercialization of some of the largest companies in the world.

business centre in Mumbai

So the transportation and connectivity to this area from other parts of Mumbai is something that has been kept in mind. This area also has trains with express highways for an easy commute. This place can provide great opportunities for start-ups as it's easy for clients to get there. 

The Best Location for a Business Centre in Chennai

Tamarai Tech Park

This area in Thiru Vi Ka Industrial Estate, Inner Ring Road, Chennai is a great place to start your business. It's centrally located with a great transportation facility. TEC business centre is the best in this area. It is comfortable and quiet which helps you to focus on your work easily.

business centre in chennai

Guindy

This part of the state-capital is considered one of the fastest-growing business centres in Chennai. There is an uptick in its popularity among start-ups and established companies because it’s close to the Chennai international airport. Easy transport facility has also made it a hub for international businesses as it helps in cost-cutting for various MNCs, making this the gateway of Chennai. Other than the airport the transportation facility is great and it also has many residential areas in its vicinity, which is a bonus for the employees. 

The Best Location for a Business Centre in Delhi

Connaught Place

This is a recognizable place, lying in the heart of the city. Its central location helps it connect to the rest of the city. The connection is so good that it doesn’t take you more than twenty minutes to reach any part of the capital from this place, making it a great location for business centres in Delhi. Delhi metro has given a new meaning to commute within Delhi. 

business centre in delhi

It's very fast and efficient, reducing your travel time by more than 80%. Salesman House is a prominent landmark in this area and everyone knows this place, so it is a great place to start your business. It has a residential area nearby. However, to be honest, this place is a bit costlier compared to other parts of the city, because of high demand. 

The Best Location for a Business Centre in Pune

Dhanori

It is located on the northeastern side of Pune. Many major roads are connected to Dhanori. These roads also connect this area directly to the airport, the airport being at a distance of merely fifteen minutes. There are many places for social activities, like movie halls and malls, an ideal place for business centres in Pune. This portion of the city, due to its well-connected roads makes it a good center for any business. The location is surrounded by hills and suburbs that gives you a calm and stress-free environment to work in. This area is going through a rapid development phase, increasing the business potential as well. 

business centre in pune

The Best Location for a Business Centre in Gurgaon

Huda City

It is located in Gurgaon. It has many ATMs and branches of almost all the banks. The transportation in this place is pretty abundant with constant availability of buses, autos, and other means of transport. It's great for new businesses as there is a rise in business activities in this area in recent years, forcing clients to seek business partners in these locations. Hence, this is a nice place to start your business in Gurgaon.

business centre in gurgaon

The Importance Of Having A Prestigious Office Space

Are you starting a business but still haven’t looked out for a physical location to set up your dream startup? We can understand it can be difficult at times to find an office space for rent in Mumbai whose population is about to cross two crores. An office is very important when it comes to attracting talent and acquiring new clients. Furnished office space in Mumbai can act as your company’s identity and give you an opportunity to create your own culture.

  

With growing technological advancements, running a business in just a 9 to 5 arrangement is no longer feasible. However, a ready to use office space in Mumbai is necessary if you wish to expand your workforce. All businesses require an office to streamline their workflow and enhance productivity. One of the primary reasons to have an office is collaboration. Every business in their respective industry requires its employees to work together as a team to innovate and generate new ideas. 

Reasons To Have Office Space For Rent in Mumbai

·       Professional Development

Whether you offer a service or sell a product, a workspace of your own in a city like Mumbai will always help in facilitating and fostering rapid growth by bringing in more professionals and opportunities for development.

·       Social Life

With teamwork, employees get the opportunity to have a social life. Most people who work together are likely to end up as really good friends, inside and outside their workplace. Whenever you offer help to your co-workers, you are the reason for their happiness making yourself more productive towards work. Working in such an environment keeps you motivated all the time. This helps in capitalizing on new networking opportunities.

·       Quality Workforce

More than just the physical appearance, a company’s workspace acts as a pillar of value to outsiders. A good office is an expression of everything ranging from its work philosophy to financial health. Fully furnished office spaces in Mumbai are one of the best ways to invite people and communicate their essence.

·       Better Communication

Many rented office spaces provide good quality wifi, so one can get connected to anywhere around the world. Despite being in the 4G era, these spaces provide high-quality video conferencing facilities in Mumbai. As a result, communication between the client and the firm is more engaging and accountable.

·       Investors

To ensure growth and proper management of the company, your investors might suggest you get an office before they broaden their partnership. A feasible physically located business can help the owner gain trust and confidence among the associates or partners.

·       Fewer Distractions

Working in a ready to use office space in Mumbai means working in an office with zero distractions. These spaces act as a place to work away from home that enables your mind to associate with the office and get your work done.

Choosing a Right Workplace For Your Business

Finding a fully furnished office space for rent in Mumbai to set up your firm is a bit complex. But the experienced team of The Executive Centre can make it easy for you by providing you with thousands of options to choose from. Although many businesses still work on the traditional idea of offices where coworkers collaborate and communicate among themselves. But today, businesses can still be functional and productive by sharing ideas and communicating on the web. A significant number of business owners in Mumbai operate from coworking spaces in addition to their traditional offices.

Having a working space for your business is like an investment. Therefore, every option must be weighed carefully to ensure maximum profit. If you think that luxurious office space will bring more projects and sales to your business, then it is worth every penny. Moreover, a company’s success is dependent on the growing team of individuals and associates must keep in mind the idea of expanding their organized workspace to manage their productive workforce.

Key Things to Consider while Choosing a Virtual Office

The beauty of a virtual office is that it allows businesses to establish a middle ground between conducting meetings in the living room and renting an office space. A location has never played such an important role in choosing a virtual office. Let’s look at the key factors to consider while selecting a virtual office in Pune.

·       Convenience

For all purposes and intents, virtual offices are meant to offer convenience. Therefore, don’t overlook the convenience that a virtual office offers your days where we used to spend hours in traffic before getting to work.

·       Compare Fees and Rates

The price of virtual office space in Pune should be your top concern, especially if you are working in a start-up. However, before you sign up for the cheapest option available, consider the pros and cons of each of the packages available to you. There are many business centres in Pune that offer low rates but with limited options. 

·       Technology

What would you do with an office without basic access to high-speed wifi, fax, landline

phones, etc? A good serviced office in Pune provides you with technological advantages.

·       Flexibility

Ask your team about business hours. Do you, your customers and your staff require access

during business hours only, or they need it 24/7? This can be a big issue when a client or a customer drops by and the receptionist isn’t available. 

·       Amenities

It is important to note that all firms require a physical address to register their

business. Virtual spaces provide facilities like meeting rooms for rent in Pune and video conferencing in Pune to add credibility to your business at an affordable rate. This comes coupled with free wifi and board rooms to help you conduct meetings.

·       Onsite Staff

Your business definitely needs to have good onsite customer care staff to address and answer local clients and do all the essential paperwork. Your virtual your provider for the same. office service providers might offer this as an add on service! You can ask

By keeping these key factors in mind, you can ensure that you, your customers and your staff get the best out of the virtual space you choose in Pune. Don’t forget to read through your agreement to make sure that you are paying for whatever you have asked for.

Smart Meeting Rooms - Features

A smart meeting room is an essential element of a smart office. It consists of all the advanced technological tools that are used for conducting a productive meeting experience. Our video conferencing facility in Colombo allows in-office and remote attendees to work together without having to depend on the location.

Here are some of the features of our conference rooms for rent in Colombo.

Advanced Video Conferencing Tools

A video conferencing software can be considered as one of the most essential features of every meeting room, especially if it is a smart meeting room. These tools offer a smooth interaction with employees and clients and help in scheduling your plan, invite others and start a video conference.

Advanced Video Conference Camera

A video conference camera makes distributed teams interact together at the same time. These cameras can be operated from computers, laptops, and other devices so that the live footage of the meeting is displayed to all.

Advanced video conference cameras provide a panoramic view of the room, making distant team members understand everything that is happening in the room and track the conversation. It encourages a collaborative and productive environment that lets every employee propose and share their views and plans. Smart video conference cameras offer the best quality video and audio. Their advanced technology can adjust to the requirements of the employees and clients taking part in the meeting.

Whiteboard Devices

Whiteboards can be defined as a portable productivity tool, used by in-office as well as remote workers. These whiteboards can share ideas with your team members and help you in noting down and sending your thought process and workflow with others. Our meeting rooms for rent in Colombo consist of high-quality wall-mounted whiteboards or rolling portable whiteboards.

Advanced meeting rooms are generally installed with smart whiteboards. It is easier to view and share ideas among distant participants using this accessory. They are connected with various innovative and collaborative apps so that written content can be shared with the participants after the meeting is over. It allows everyone to know the point of discussion of the meeting.

Advanced Analytics and Problem-Solving Tools

Smart meeting rooms consist of different analytics tools that assist IT, professionals, to see how meetings are conducted so that they can make necessary changes and enhance the experience of the employees and clients. These tools assist professionals to know everything about the meeting spaces.

Our conference room for rent in Colombo is ideal for hosting all kinds of events. It is available to both members as well as non-members of the executive centre. We will provide you with well-equipped, simple and yet the most effective meeting rooms for hosting events.

How Office Amenities Boost Team Productivity

Workspace amenities and workplace culture play a significant role in the output of an organization. As employees are the strength of an organization, their physical and mental well-being is crucial as it boosts productivity. Thus, adequate advanced amenities along with a good work culture are two essential criteria for creating a productive environment and determining employee loyalty. Our business centre in Colombo provides all the necessary amenities.

Let us have a look at how office amenities can improve team productivity.

Introducing Natural Elements Influences Work Output Positively

Studies reveal that natural light, warm temperature, and a certain level of ambient noise play a key role in improving employee engagement. Employees' productivity increases in workspaces that bring in natural elements. Companies must aim to maximize natural lighting and adjustable lighting systems as it lowers eye strain, headache, and stress. Adding greenery to workspaces is also an effective step as it cleans the air and provides a calm atmosphere.

Encourage Technological Advancement

Today, an office without advanced equipment that performs different functions is unimaginable. Our office space on rent in Colombo has automated board rooms with seamless wi-fi connectivity, state-of-the-art infrastructure, expertly crafted IT solutions, high-performance audio/visual technology, and more. 

We have also installed digital boards and flip charts in our office for carrying out discussions, training sessions, and to conduct meetings more efficiently. All such amenities in an office boost employee productivity.

On-Site Fitness Centers

On-site fitness centres are one of the most effective ways to retain old employees and attract new talent. Maintaining fitness boosts employee morale and lowers the number of absentees.

Various well-reputed companies such as Unilever have developed a “Wellbeing Zone” within their office where employees can opt for different fitness activities that include yoga, massage, and stretching. Besides, many companies have also introduced a sleeping zone known as "nap pods" for employees to recharge and revitalize.

Companies must invest in employees’ health and mental wellness as it plays a key role in influencing their work rate. From installing fitness equipment to creating a dedicated area or a space that encourages mental wellbeing is something that all companies should ideally offer their employees.

Create a Collaborative Environment

Every company must try to create a collaborative environment inside the office where the employees get the opportunity to meet new people. We organize various networking events in our coworking office space in Colombo where one can collaborate with industry leaders, view product exhibitions that support a cause, and several other activities. 

Besides offering a valuable experience to employees, it is also highly beneficial for companies as one gets seamless business transition and connectivity through such events. 

Our business centre in Colombo offers a perfect combination of advanced coworking workspace with all the necessary amenities and a productive environment to work. You will get serviced offices, meeting rooms, co-working spaces, and virtual offices, comprising a healthy work culture that will motivate employees to maximize their output.