Working in a shared office space is no longer a foreign concept in the Philippines. These shared spaces bring together students, employees, freelancers, entrepreneurs, and startups from various institutions to utilize flexible and conducive workspaces. Coworking allows for diversity within people of different backgrounds. These shared spaces also cultivate work, collaboration, and engagement among various companies.
The pandemic has driven much of the workforce in the Philippines to go fully remote. Still, the work-from-home situation isn’t suitable for all employees because not everyone has a designated space needed to work in their homes and access to high-speed internet. Worry no more for there are shared office spaces for rent that could provide comfort, convenience, and other utilities needed to accomplish day-to-day tasks efficiently.
What is coworking?
Coworking is a business services provision model that involves individuals working independently or collaboratively in a shared office space. Coworking spaces offer basic amenities in the traditional office setting like an air-conditioned room, a dedicated workstation, meeting rooms, fast-speed Wi-Fi, and parking areas. Most coworking offices also offer printers, scanners, and photocopiers.
They also offer workspace options like private offices, shared tables for team huddles, and conference rooms for presentations. Several coworking spaces offer free coffee or tea, while some have perfect recreational areas for those working in the arts and creatives.
The coworking industry in the Philippines is seeing rapid growth. According to a recent report by JLL Philippines, they are “seeing around 2,000 seats in a year in the past 3 to 5 years.” The market is relatively small as compared to Asian peers, which means there’s a vast potential for growth given the increasing number of freelancers and online workers in the country. Based on trends, 30% of commercial real estate will utilize coworking spaces by 2030, owing to the projected growth of startups and large corporations.
International Workspace Group said the pandemic had pushed the adoption of the future of work early in the Philippines, noting that it has received more inquiries for flexible working spaces.
Benefits of Coworking Spaces
Among the benefits of utilizing a coworking space include:
- Cost-effectiveness since it allows startups and entrepreneurs to maintain an office within a prime location, such as central business districts, without spending considerable money on a traditional office.
- Coworking spaces also take away the burden of maintaining an office space long term.
- Shared office spaces also offer opportunities to be more productive since it allows flexibility and boosts social interaction among colleagues.
Who Uses Coworking Spaces?
Before the pandemic, coworking spaces cater primarily to startups and freelancers. These spaces operate 24/7, so it is convenient because they match the freelancers’ flexibility, and they can also reach the startup’s demand when it scales up. They also cater to college students who work on their thesis or review for upcoming board exams, but since restrictions are still in place due to the COVID virus, some students are not permitted to go into these coworking spaces yet.
To adapt to the new regular, coworking offices in the Philippines are now operating at a reduced capacity to practice social distancing. It also has reinforced cleaning and disinfecting practices to ensure workplace safety. Masks are required to be worn while in these office spaces,
For small and medium-sized businesses and startups, coworking spaces could help you cut down on costs because these ready-made spaces offer flexible lease terms. Coworking spaces provide a conducive working environment and serve as collaboration hubs or social spaces to brainstorm and share ideas.
Many startups are low on resources despite being high on ideas, and coworking spaces are an affordable and flexible solution for their business to thrive despite the continuing uncertainties posed by the pandemic. You’ll be surprised to know that several large corporations also utilize coworking spaces, especially those pivoting their operations for expansion.
Large business owners and executives also benefit from coworking spaces because it’s easier to rent a spot in a coworking space where they could meet and talk with business partners than have a fixed office space. Given their demanding schedule, not worrying about any office space lease can help them focus more on finishing their tasks.
Remote work brings in questions of sustainability in the long run, especially when the pandemic is over. With the continued decline of COVID cases in the country, the government has eased mobility restrictions, allowing businesses to shift to a more adaptable work paradigm than the work-from-home scheme.
Coworking Office Solutions in the Philippines
Employees can either work in the office or at home in a hybrid work environment. Companies can still foster a collaborative atmosphere while keeping safety paramount. Since the world is leaning towards a hybrid work environment, a coworking office space like M Spaces is an excellent option for freelancers or startups.
Coworking spaces in the Philippines are emerging as a great alternative to filling the void of the lack of suitable space at home. As companies try to bounce back from the pandemic, they would find ways to reorganize the workforce, and cutting real estate costs is a great way to plan for business continuity.
Looking for a space ASAP? Get in touch with M Spaces through info@mspacesph.com to get all the details and the best possible package for your company.
