Recent statistics in the Philippines have shown the growth of the startup ecosystem. It is said to continuously thrive despite the hit in the global economy due to the recent pandemic. While favorable to new business owners, these statistics still do not guarantee startup success. That is why understanding where to invest your capital and where to save is important to minimize losses.
Office spaces are one of the things you should save up on when starting a business. Renting a fully serviced office space, such as a coworking space for your business, to save up on office setup and utilities. In this post, we’ll explore more benefits of choosing coworking in Manila for your startup business.
Understanding the Concept of Coworking Spaces and Its Growing Popularity
Coworking spaces have been around for some time. They gained popularity when the pandemic changed how people work worldwide. Suddenly, people are no longer required to come to the office daily, and work-from-home options have been made available.
The homeworker setup fits the lifestyle of many Filipinos because it lets them spend more quality time with their families. However, it also invaded their work/life balance. So, renting shared office spaces has been a way to return the boundaries.
As the workforce slowly adjusts to the new normal, more and more companies have also realized that there are benefits to a hybrid work setup. So, coworking spaces have remained a great option for many professionals who prefer to keep work out of their homes.
Moreover, coworking spaces are more cost-effective for new entrepreneurs and freelancers as these places already have the necessary equipment and utilities to run a startup business.
Benefits of Coworking Spaces for Startups
• Coworking spaces are good places for brainstorming
Coworking spaces foster a collaborative atmosphere with diverse professionals from different backgrounds, industries, and expertise levels.These people are potential collaborators and mentors who may offer valuable perspectives and ideas for your startup. Moreover, these individuals are also possible partners or clients that can help you expand your business.
This article in Entrepreneur also talks about how coworking spaces are safe spaces to try out new ideas with others. You’re surrounded by professionals who can give you constructive feedback for your failures and help you grow.
• Using coworking spaces improves productivity.
Did you know you’re more likely to focus on your work if people around you are also busy? This is how coworking spaces help improve your work efficiency and productivity.
Since you pay for the space for a specific amount of time, you’re more likely to want to finish the day’s tasks. Moreover, coworking spaces often have high-speed internet that ensures you’re always connected online. It offers less risk of getting disconnected during important calls or long loading times when accessing your task management software.
Another reason coworking spaces boost productivity is the distraction-free environment. Since you only rent the area briefly, you’re unlikely to clutter it with stuff you don’t need for work. They’re also quieter than home offices or coffee shops.
• Renting shared office spaces helps cut down fixed costs.
Unlike traditional office spaces, coworking spaces often have flexible leasing terms. You can rent the shared office space daily or whenever needed and only pay for your time there. Whereas traditional office leases require a long-term commitment that is not ideal for startups. Moreover, there are reduced overhead and setup costs in coworking spaces as the place is already fitted with ergonomic office equipment and high-speed internet. They also often have access to printers, scanners, and projectors, so you don’t need to worry about them when starting your business.
Finally, coworking spaces often have several room-size options within the same building. So, you can easily scale up or down, depending on your business needs.
• Coworking spaces provide extra services and amenities for your startup.
Some coworking spaces also offer security, secretarial services, and business support. These minimize the stress you may encounter when starting and running your startup. M Spaces can help you with important startup and business tasks like bookkeeping, business registration, and corporate compliance.
Coworking spaces also offer private meeting rooms for meeting with clients and taking confidential calls. They’re also great for team meetings and business presentations.
• Coworking spaces improve work-life balance.
Startup businesses usually save on rent costs by utilizing their homes. This will save on rent but remove much-needed work and home separation. So, coworking is a flexible solution with lower prices. You’ll have easy access to public transportation when coworking in Manila. They’re also often surrounded by entertainment and food establishments for after-work rest and relaxation.
Coworking in Manila for Your Startup Business
Coworking spaces help startup businesses thrive by offering cost-effective office space and a collaborative community to aid their long-term success. They also provide the necessary amenities and equipment for your daily business needs.
At M Spaces, you can access fully furnished amenities, unlimited coffee, and ergonomic office design to help boost your work productivity and efficiency. We offer flexible leasing options and private office space sizes:
- Micro – 8 to 11 sqm. or 4 to 5 seats
- Medium – 12 to 14 sqm. or 6 to 7 seats
- Mega – 15 to 23 sqm. or 8 to 12 seats
You can check out these spaces and reviews on our Facebook and Instagram pages. We also offer business solutions to help you with your startup business. For more information, you can also contact us through our website.
