As more employees are opting for work from anywhere models and freelancers are also getting good response in the market, there is a growth in co-working space in Tier-2 and Tier-3 cities too. The hybrid work models are making a new brand of workspace a viable business for many who are creating a professional space for start-ups, individual consultants and all those individuals who worked out of cafes.
In tier-2 and tier-3 cities working professionals are now able to access steady internet connections which helps them connect with clients and teams based anywhere in the world. However, many of these cities are still subject to power cuts and internet breakdowns. Co-working spaces with power backup help people stay connected round the clock. Furthermore, most people working out of tier-2 and tier-3 cities are living with their families, and in many cases extended families. For such individuals, these co-working spaces provide an office space that is free from any distractions.
India is currently a hub for start-ups and many of these are sophisticated enough to run out of a co-working space as opposed to their family garage or studio flats. To work n hire India, especially start-ups that are outsourcing aspects of their business to freelancers, co-working space functions very well. Co-working spaces have conference rooms that are fully equipped for making presentations and holding conferences. So, even if the freelancer, consultant, or businesses wish to have privacy during the meeting, they can get ample private space.
Co-working spaces are populated with individuals who are passionate about their careers and their jobs, many freelancers, start-ups, and consultants, besides employees of companies who are working remotely. The environment is not completely formal, as people working there are not colleagues but working professionals. It creates a thriving space for idea exchange and collaborations. It offers a blend of professional working space and Flexi-work hours for individuals.
As per a recent report ‘The Future is Flex’, property advisory CBRE South Asia has estimated India’s flexible office spaces will expand by 10-15% year-on-year during the next three years. As the third-largest start-up hub and with the second-largest freelance workforce in the world, India will witness a surge in demand for co-working spaces.