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Home Features

Businesses embrace co-working amid economic challenges

Editor SharpDaily by Editor SharpDaily
November 16, 2023
in Features
Reading Time: 1 min read

Businesses across the country are exploring cost-cutting measures, ranging from process automation to payroll reduction, and adopting co-working and hybrid working systems.

In response to challenging economic conditions driven by rising inflation and increased taxation, coworking spaces have emerged as a notable trend in the business world.

In a coworking setting, individuals from different companies or organizations share a common office space. This approach has gained popularity among businesses due to its convenience and cost-saving benefits.

For instance, a company with ten employees, five of whom work remotely at least two days a week, can significantly reduce costs by utilizing a coworking space only for the days when staff members are in the office. This stands in contrast to the traditional office space model, where a business would rent space for the full staff, regardless of their actual in-office presence.

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Opting for coworking spaces also allows businesses to eliminate various costs, including utilities, office equipment, occupation licenses, additional labor for cleaning and maintenance, periodic maintenance expenses, and repairs. Furthermore, co-working environments foster a collaborative and flexible atmosphere.

Co-working spaces offer shared infrastructure such as meeting rooms, high-speed internet, and office amenities, relieving businesses and individuals of the financial burden associated with these expenses.

For small and medium-sized businesses, coworking provides lease flexibility, enabling easy scaling up or down. Additionally, co-working facilitates networking opportunities among individuals from diverse professional backgrounds.

Several companies in the country have made significant contributions to the coworking trend. Workable, a Kenyan company based in Westlands, serves as an exemplary case, providing an elegant coworking space environment with a hospitality touch.

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