EFC Lists Key Trends to Watch Out for in Co-working Spaces 2017 - The Latest Buzzword

Mumbai, Maharashtra, India

Co-working spaces or shared working spaces is one of the most popular trends resonating with start-ups, real-estate and corporate circles.

Given the current scenario, overall co-working spaces’ market is still in nascent stages and is expected to rise by 40-50% in the next year- thereby making this segment as one of the most lucrative industry to be in.
As per market estimates, the co-working space industry in India will attract annual investments of around $400 million by 2018.

As per one of the renowned real-estate consultancy - JLL, the market for this segment is only set to rise with the number of such spaces reaching one million by 2018.

“As the current trend of freelance workers and SMEs are picking pace, flexibility, convenience and technology at minimal cost have become integral needs and hence co-working space has become the new buzzword,” says Mr. Ramesh Nair COO – Business, India, JLL India. “Also, it’s not just freelancers, consultants and start-ups that are exploring co-working spaces. There are several large corporate companies who are interested in providing flexible working options to their millennial employees are also looking at taking up desks,” he added.

While the Indian worker and the workplace becomes more global in nature and the next-generation workforce demands more flexibility in working style and remote work access, real-estate firms are also looking at ways to increase utilization of vacant commercial spaces.

According to Mr. Umeash Sahhaaii, Chairman & CEO -Entrepreneur Facilitation Center (EFC), 2017 will see that the demand for smaller and more flexible office options will grow manifold. He also added, “Co-working spaces have today evolved from simple shared offices or rented spaces on seat-basis to modular and scalable solutions with multiple options. Apart from need-base offerings (reception, meeting room, cafeteria etc.), providing ‘virtual office solutions’ will add value for small businesses.”

“The year 2016 has been big for start-ups and entrepreneurs in the country, with the Government announcing their support and new policies. India today is already a home to world’s third largest number of start-ups. Rise of startups will give a great push to the co-working industry as more workers look to ditch the coffee shop for a more flexible, business setting.”

The focus is also on providing SMEs with affordable spaces which have plug-and-play services, through shared spaces which would also have other added facilities such as mentor support.

Conclusion:

Co-working offices are seen as a playground for collaboration and exchange of ideas among entrepreneurs, creation of communities and higher networking opportunities. However, new trends in the coming year 2017 which will further fuel expansion are corporate tie-ups, added services such as concierge desk and group discounts and even temporary living arrangements – suitable for the millennial workforce.

About EFC

"EFC" Entrepreneur facilitation center is incorporated to meet the ever-increasing demand for professionals, well-appointed workspaces both for local and international clientele, affordable yet convenient and style in a unique package. EFC aim’s to set the benchmark for it’s clients with the best business support services and amenities they require.

EFC‘s suite of products and services are designed keeping in mind the business requirements of professionals, consultants, start-ups and established firms. EFC is committed to engineering and developing state-of-the-art infrastructure and is operating across 7 centers, with 4,00,000 Sq. feet space in Pune and Mumbai. EFC is aggressively moving towards setting up its new centers in Delhi, Bangalore, Hyderabad, and Chennai are planning for 2,50,000 Sq. feet space with10 new facilities. EFC has a mission to support more than 5,000 entrepreneurs, from start-ups to established business owners.

EFC’s work spaces are built and created to accommodate everything a growing business would need. Every square inch of the work space is extremely well-thought-out and strategically planned. Rest assured, this is the best investment you can make for your business.