Did you know that the idea of coworking spaces began due to the global financial crisis of 2008? The concept which started as a necessity is considered today as a facility, preserving within itself the solution to connecting the community through the network. The 2008 financial crisis which had led the entire economy towards a downward slope hollowed out organizations, resulting in unemployment and monetary slump. This was the time when these organizations came together to work in small coworking spaces, meeting growing demand for a place to work.

With the coming of the startup concept, where small groups founded an organization and worked their way up, made the coworking model extremely popular. Initially, the concept became popular among the young entrepreneurs who were passionate about working for long hours at the same time making an efficient and affordable budget strategy for the startup ecosystem.

Isolation is one thing which cowork has been able to surpass. The building of the communitarian force makes the system attractive. Especially, with the freelancers and increasing rate of unemployment, cowork became a space where an individual, as well as an organization, can come together over a project. Cowork helps you connect the dots, through the network relations.

Here, the businesses are able to meet prospected employs or vice-versa. This vision behind the ecosystem strengthens the open-plan platform. It might seem quite unconventional when we compare the ecosystem with the big Corporates. Some might find the casualness of the arrangement to a certain capacity a pitfall of the system.

This new bohemian culture originally started trending among the millennials which featured a shift in the present day among experienced professionals who are joining the coworking force. The ecosystem features a more holistic work culture in comparison to organizations working alone. The in-house support is an essential factoring body when we talk in terms of other advantages of the system. With the technological advancement, the concept of the workforce has also changed. The startups have become more tech-savvy, where individuals can work without the requirement of a large infrastructural framework.

With flexible working hours and basic infrastructural facilities, the startups can work without getting bothered about the maintenance issues. This enables individual’s free-will to run their projects as they suppose, saving them major over-head costs and time.

The reason cowork is seen as the future of work is that of its innovative collaboration into a network. The community works together deliberating better opportunities in order to expand horizons. Space is programmed to instil open sources available to everyone.
The association with fellow coworkers makes the ecosystem resilient. Cowork might not be suitable for all kinds of workers, but when it comes to the entrepreneurs and millennials, cowork might be the perfect place for a startup.

So as they are all saying, let’s get ready to cowork because;

“The word Coworking won’t be a word in the future; it will probably just be the way we work.”

-Rahul Prakash
(Partner at Hatch Today)