Co-working spaces fast emerging as preferred choice of big corporates

Large companies are seeing sense in employees working out of a co-working space near their homes, as urban commutes are getting longer. Co-working spaces like CoWrks, InstaOffice, 91springboard, Awfis finds that up to 40-50% of their space is now occupied by SMEs and corporates and not just startups.

“When you enter a corporate office, you will easily find more than 50% of the space is vacant and the remaining is either under or over utilised. Also, the teams in corporates are gradually getting smaller and more collaborative which is one of the reasons why co-working spaces are becoming preferable,” said Vikas Lakhani, co-founder of InstaOffice, a co-working space startup.

Companies such as GE, Dr Reddy, Accenture, Digital Ocean, ReNew Power and Paypal, alongside industry associations such as Ficci and foreign companies looking to set up base in the India, are opting for co-working. Alibaba recently took 30 seats in Bengaluru-based CoWrks to start its operations.

Read more: The Economic Times