With this scintillating trends and growing rate of startups in all over the world, entrepreneurship is in the blood of the youth nowadays. But what exactly startup is? Startup might be called as a venture whose roots are based on innovations, ideas, services, products, processes. Youth are now so inclined to entrepreneurship and startups that they come up with the ideas and innovations which can bring you the money and also be economical to environment and society at the same time. As a result, one of the most mind boggling statistics says that at a global level the startup economy is worth nearly $3 trillion, a 20% rise from 2017 and this is enormous. By observing this success rate, the obvious curious question is “Do all startups succeed?”
The failure rate is even more shocking and eye popping, about 90% of the startups fail. There must be multiple reasons but the one which concerns most is lack of space and that’s obvious. If the amount of startup companies is being registered with this rate irrespective of whether they are succeeding or not, they all need space for doing work, for meetings and for everything else that a typical company needs to do, this gets nostalgic when Google and Apple started in the garage but now is not the case, it is not possible now to find these many garages for startups.
One other reason could be that even if a startup company has its own space, the question is how much they need to even invest in that space so that it kind of look like a company. Now this can be a major issue for a startup, because they need to invest money and their time in their business and not just to set up their offices, that is important too but what if we come with a solution that gives a startup or any company a proper and appropriate office environment and you need to do nothing but just work.
Co-working is one of the solutions and in fact this has been adopted by many countries globally. Co-working spaces are a type of offices where different businesses or companies work independently sharing the same environment. These offices can be rented out by corporate client for meetings and other office stuff. According to an article published by E.Mazareanu on July 9, 2019; statistics shows that the Co-working spaces opened worldwide are about 18.7k and the average number of members working per space is around 185. The graph of this getting higher and higher day by day and just how startups is being registered at an enormous rate, the Co-working spaces is being opened with the same high rate.
In India, it is obvious in mega cities like Mumbai and Bangalore, the Co-working spaces are increasing at a good rate but in the cities in Gujarat, the statistics are quite unorthodox. Cities like Vadodara, Surat are being involved in this sector at a rate which is gradually increasing. Our space Master Space which is the initiative of Master Touch Concepts
situated in Vadodara is a Co-working space which gives the startups, small businesses, and other companies a proper, well furnished and equipped working environment. Master Space has a total of two branches in Vadodara and planning to open one more in near future. This clearly shows the need and curiosity of these kinds of Co-working spaces is there right now and hence that makes the Co-working space a whole fresh business. By observing these stats and figures, Co-working space is an asset to all kind of industries and startup businesses.