Coworking space in Singapore – The game changer for startups
With the proliferation of business solutions, more people are willing to take a chance on that venture they have been fleshing out for years. Startups have especially benefited from a business climate that has increasingly become more amenable to smaller businesses. In many cases, costs that would typically price a business out of a location have completely been reduced.
Take coworking in Singapore, for example. The coworking landscape in the country is such that start-ups have their pick from a number of diverse spaces, some that cater specifically to the needs of the start-ups. One coworking space – Servcorp Singapore, for instance, offers new businesses a variety of amenities, some very specific to the start-up. One of the central reasons related to the popularity in this workspace style is the fact it can really transform a struggling start-up into a thriving, established business.
Keep reading to learn how the coworking space can be a game-changer for startups.
Before Coworking
1) Sky-High Rent
Searching for affordable office space can be an ordeal for a start-up. First and foremost, the rents in most major cities are much higher, and then when you add in all of the costs to manage the space, a start-up on a limited budget can find themselves spending most of their income on overhead. Ultimately, even in the most modestly priced offices, overhead can be hard on a budget.
2) Workspace Inflexibility
Yeah, with a private office, you can pretty much do anything you want in the space. However, for a start-up that needs to be able to use space for other activities, private office space can be very limiting, especially if the landlord imposes regulations regarding activities in the office. Then, if you want to move on, most leases are at least a year long, and while the landlord might offer a bargain, it is usually for a longer lease, which can be anywhere from 3-5 years.
3) Networking And Collaboration
Finally, not that professionals cannot navigate the business landscape, but networking and collaborating is an art and a science. Plus, many of the functions typically can be expensive, even though they are very important in getting your business’s name out there. Ultimately, there are other platforms for networking that gain you more exposure with about as half the effort.
After Coworking
1) Low-Cost Rent
The coworking space completely eliminates the hassles associated with the overhead. This shared space provides businesses with an all-inclusive menu of options at a fraction of the price of what it would cost by leasing a conventional office. Furthermore, the coworking space is a fully-furnished fit out, so professionals only need to worry about bringing themselves to work.
2) Work space Flexibility
The coworking space provides start-ups with a lot of flexibility. The offices usually have few boundaries, and this fluidity allows for businesses to work, network, and collaborate with each other. The leases are also typically shorter than the standard business office with some being as short as a month.
3) Networking Potential And Collaboration Opportunities
The stage is set for networking in the coworking space. First, professionals join a community of professionals hailing from a diverse group of industries. Then, the space design is the background to the social interaction that creates opportunities to build relationships. Coworking creates opportunities within the office for start-ups to take advantage of the many resources in terms of human potential that comprise the community.
Coworking Singapore – A Total Game Changer
The office space experience that happens when a start-up chooses to opt for a coworking space is like night and day. Coworking in Singapore can create many opportunities for your business to excel in an environment conducive to collaboration. The intersection between work space and work and networking and collaboration creates a foundation rife with opportunities to excel.
