Why Entrepreneuers Around the World Flock to Co-Working Spaces

Singapore is quickly turning into one of the most powerful nations in the world. In this post, our friends from www.findmyworkspace.com discuss the co-working environment in Singapore.

Thanks to a business-friendly environment, Singapore easily became a major IT hub in the Asia-Pacific over the past decade. The growth of its business sector saw the influx of many start-ups and tech entrepreneurs who took advantage of the nation’s lax business laws and hundreds of networking opportunities.

Its growing start-up culture recently gave rise to the popularity of coworking spaces, which is now a trend among young professionals who work as freelancers, independent contractors, and small to medium-sized start-up teams.

What is a Co-Working Space?

A co-working space is basically an office space that is designed for workers from different companies or organizations to share. It’s perfect for freelancers, artists, and start-up companies with a small to medium-sized team of workers.

As an IT-hub and breeding ground for start-ups, it is no wonder why the co-working trend is so popular in Singapore. Over the past two years, over 20 co-working space providers opened in the city.

Experts worry that the sudden boom of co-working space properties might outpace the growth of start-up companies in the city. However, one thing is already certain: Singapore’s co-working trend is a hit, and it is not going away too soon.

Why Get a Co-working space?

Many people who used to work from home can benefit from a co-working space. First, it can provide them with a new, office-like environment that boosts productivity.

Second, a co-working space provides networking opportunities. In a Global Regus survey, 82% of respondents reported that they love co-working spaces because they open up new opportunities to connect with like-minded people. As co-working spaces are frequented by creative, freelancers, and start-up people, it is likely that these entrepreneurs and workers can form lasting and beneficial connections among co-habitants of these spaces.

In the same survey, 74% of respondents agreed that co-working spaces provided a good environment for start-up businesses to thrive. Factors such as convenience, flexibility and affordability make it perfect for small businesses to maintain.

Ideally, a co-working space inspires independent workers and aspiring tech entrepreneurs to be more creative and foster network connections and collaborations while also maintaining individuality in the workplace.

The spaces also provide workers with basic amenities such as working stations and desks, a reliable Internet connection, a cafe, meeting rooms and even family room for workers who would like to bring their kids along. Many co-working spaces also provide semi-private nooks for those who prefer to work alone.

Where to look for a Co-Working space?

Looking for a co-working space in Singapore is not as challenge as you might think. Many property investors jumped into the bandwagon in the past 2 years.

Online services such as FlySpaces and WeWork can provide a comprehensive list of office and co-working spaces that are located in several cities including Singapore and Hong Kong. For those who are only looking for a temporary working spot, FlySpaces also lists properties that provide short-term leasing with choices that range from daily, weekly, and monthly rates. WeWork, on the other hand, lists co-working spaces that charge by the desk.

Co-Working Trend in Asia and the World

The co-working space trend is not just thriving in Singapore, but it is also beginning nearby Asian Pacific cities like Hong Kong, Bangkok, Beijing and Manila.

In fact, Asia Pacific Research noted that 78% of co-working office providers are thinking of expanding their services all over the region. So it seems like the massive co-working trend will soon hit most major cities in the Asian Pacific to address the growing need of work flexibility, mobility and even encourage conducive environments for new innovations.

Gemma Reeves is a seasoned writer who enjoys creating helpful articles and interesting stories. She has worked with several clients across different industries such as advertising, online marketing, technology, healthcare, family matters, and more. She is also an aspiring entrepreneur who is engaged in assisting other aspiring entrepreneurs in finding the best office space for their business. Check out her company here: FindMyWorkspace