Traditional working space needs has been transformed in recent years. The pandemic has made organisations relook, rethink and restructure their work space needs, leading to a rise in co-working spaces.
Co-working spaces has been defined as places where workers of different companies or individual entrepreneurs share a common space. Such an arrangement allows for immense cost savings and facilitates flexibility with shared infrastructure on equipment, utilities, receptionist, refreshment and parcel acceptance services.
The trend has certainly caught on here in Malaysia with a marked increase in developments offering small office and lifestyle spaces. This has become especially pronounced in central business districts, major cities and surrounding suburbs.
What makes such co-working spaces so appealing? Here are five benefits that have made such small office spaces and lifestyle suites such a hit:
Sharing working space with workers from a completely unrelated field allow for unique networking opportunities. This may open up opportunities for sharing even more resources, for instance in logistics or block chain technologies.
Imagine being in a work environment where there are experts and professionals from diverse fields, all being able to shine a different perspective on each other’s work. Such an environment can be a creative hot house where ideas meld and come alive!
For many start-ups, keeping costs down is imperative not just to growth but survival. With smart scheduling, two or even more small businesses can share a small office or lifestyle space, maximising ROI on physical space, which range from meeting rooms to even the pantry. Some lifestyle suites even offer separate entrances to facilitate such co-working arrangements.
Even larger organisations have seen the benefits of decentralising operations and having multiple small offices in different locations. This will allow it to hire the best talent without needing those workers to relocate. It also allow those organisations to have more field offices to service relevant markets.
Many of the new lifestyle units on offer in the Klang Valley occupy strategic addresses, in locales which normally demand premium rentals, putting them beyond the reach of fledgling businesses. Many of the new developments are well-connected via major highways and are near the necessary modern conveniences such as shopping and other lifestyle enhancing options.