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Having other businesses in the same space allows companies to go beyond breaking the silos to look at opportunities and partnerships faster and without the red tape that hampers big organisations

Despite the prevalence of large corporations often taking center stage in business related news, with startups and smaller companies often reported as a result of a meteoric rise as a company, new technology or. However, with the scope and space that smaller businesses encompass, not all of it is sexy. Here are some fun statistics detailing just how much of an impact startups and SMEs have to the economy.

Looking at how big corporations are facing the brunt of a rapidly evolving world, and considering the herculean task of moving companies in and out of dedicated workspaces, property developers are looking towards coworking as a viable means to service the present and future commercial workspace.

We are seeing just how much coworking is impacting real estate. To drive business, companies seek to get more out of their employees and processes, while managing their costs. Seeing the growing spirit of collaboration for the growing millennial workforce, the office of today has to go beyond a working venue and incorporate elements that facilitate work-life integration.

A quick look at the growing strength and influence smaller businesses are gathering

Seeing ping pong tables become a productivity tool in offices getting accepted widely across industries to warrant leaderboard and player tracking services, and we have a glimpse into what makes the coworking space click.

With smaller companies attracted to the flexibility and short term leases, landlords have to look at factors beyond the tangibles. By simply outfitting the area with work desks, meeting and activity rooms, stocked pantries and ping pong tables to keep with the times, would not suffice. Though attractive on paper to hit the occupancy quota, are not all that a successful coworking space has to offer to be on top of the game.

Also read: Outlier rounds aside, SEA startups saw US$2.2 billion funding dip in 2016: e27 data

Developers need to adjust their perspectives to align with the wants and needs of businesses. Choosing wisely who to pool their resources with, companies who bring other businesses to the coworking space create a synergy that is ultimately beneficial, forming tightly knit communities.

Ping pong – the source of inspiration powering future solutions

Open communication breeds synergy

The synergy is based off having open communication within the community. With the growing gig economy, there is a great deal of work being outsourced, where freelancers can mingle, and expand their networks through their capabilities. Having other businesses in the same space allows companies to go beyond breaking the silos to look at opportunities and partnerships quicker, without the red tape and lack of communication that hamper large corporations. This encourages a mutually beneficial shared economy that opens more doors for all involved, and a speed advantage that smaller businesses will benefit from.

Some coworking spaces have seen the growing need and focus on community, and as such have expanded their coworking spaces to multiple key locations within cities. This provides members of the space, locational flexibility to better suit their work needs. With these benefits, it is in the best interest for businesses to maintain their space in the community.

Some corporations have begun catching on the coworking movement and leveraging the benefits, and keep themselves relevant and have an updated view of the market landscape, while ensuring the environment helps them groom, grow and keep their talent.

Also read: 7 hacks to optimise your coworking experience

In the pursuit to keep work, technology, and services seamless, and property rental prices being an issue, certain companies have taken it a step further to blend work and life to take on co-living. With these advancements, the world is keeping a close eye with how we live and work in spaces, as we might find in coworking, the framework and solution to how we perceive and utilise space in the future.

Fun, foosball and ultimately, financial viability in coworking spaces

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The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, submit your post here.

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