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Co-working Spaces Are Adding Value to Start-up Business’s
Modern day office setup has come a long way compared to just a few years ago. Co-working spaces are rapidly replacing traditional office setups and it’s easy to see why.
There are limited budgets for working with small and medium enterprises (SMEs) and Start Up Business companies. Every dollar counts when you’re trying to scale your business in the first few years. The cost of renting a traditional theatrical office space can do significant damage to an already limited budget.
So when it comes to a more affordable option, businesses are bound to grab it quickly as they begin to see its value. Start-ups who need business setup, company incorporation services, corporate secretariat, accounting services, auditing services, taxation services, business advisory legal services, immigration and human resources assistance can contact corporate service providers who provide services for internal rental costs.
Learn About The Co-working Spaces With Network BD
Co-working spaces are dynamic You can rent a desk when you need it for work. That’s right, instead of renting an entire office, you just rent what you need, when you need it, and pay a fraction of the cost.
Nowadays many young businesses have started from their homes. Bringing more staff to the board is not an effective option when you work from home. The Urban Development Authority and the Housing Development Board have strict guidelines for controlling home office schemes. Also, it can burn out quickly if it becomes difficult to separate your home and professional life. All employees working remotely can easily gather in a shared space when the need arises.
You can choose when you want to rent and for how long you want to rent a place. Right now, it’s easy for businesses to see the value of this cost-saving system. With a flexible price structure and all the conveniences of a regular office – when you need it, shared office spaces are fast becoming a preferred option.
Our Consultation to Get Most From The Start Up Business
Start Up Business companies and freelancers are undoubtedly the biggest beneficiaries of co-working space development. This type of work makes it possible for them to have more control over their professional life. Not to mention their budget.
The Most Important 3 Beneficial Value Of Co-working Spaces
In addition to the obvious financial savings compared to renting an entire office, shared workspaces have significant advantages over their traditional counterparts. Some of the new benefits that new Start Up Business and SMEs can gain include:
1. No Overhead Costs
Without renting an office space, there is no monthly rent and expensive overhead costs to deal with. Thus, start-ups can expand their limited dollars and return those assets to the business. No contractor, no WiFi or telephone installation required, no cleaner or receptionist. Everything is taken care of by the shared space provider. All you have to do is focus on your business. You can choose your location based on your available budget.
2. Greater Flexibility
The world of business is changing rapidly. Business should never be stagnant and your work should never be arranged. The shorter rental period enables entrepreneurs to pay for the duration of their use. Once that time is over, if you no longer need space, you don’t have to rent until you need a physical space next time. Greater flexibility means better scalability, and will be responsive enough to quickly increase or decrease the size of your team according to your business needs. Options include upgrading from hot desk to office space and even complimentary use of the co-worker network in foreign locations. Providers like JustCo and Spaces offer regional network options.
3. A Supportive Community
Sharing a co-working space means you will probably be surrounded by like-minded people. Others who are going through the same entrepreneurial journey may be related to the challenges and difficulties of setting up a new business. Therefore, shared space options offer greater networking and referral opportunities, as well as the opportunity to form collaborative partnerships with businesses sharing similar interests.
Get 5 Start Up Business Offers You Get From NetworkBD
1. Financial Support
NetworkBD provides startups with pre-seed (idea) funds. NetworkBD offers grants to startups in the idea or pre-seed stages, up to 10 lakhs BDT. Startup Bangladesh Limited provides grants to growth-stage startups.
2. Educational Programs
There are several courses offered by the NetworkBD academy to train entrepreneurs working in a variety of industries. The academy offers long-term and short-term courses tailored to entrepreneur’s needs. It also offers training workshops regularly.
NetworkBD is the central hub of the startup ecosystem of Bangladesh, collaborating with national and international stakeholders. The Startup Circle aims to foster collaboration among member organizations. It organizes regular match-making sessions between startups and investors.
4. IP and Legal Support
We assist startups in protecting their legal and intellectual property rights through NetworkBD. If needed, Start Up Business can also seek support from Startup Circle members.
5. The Coworking Space
The NetworkBD coworking space is great for startups. It has 51 desks for startups. The project also created meeting rooms and other facilities for startups.
FAQ For Start Up Business
Why did I start my own business?
Can anyone start a business?
How do I start my own startup?
How do I start my first business?
Conduct market research. 1. Market research will tell you if you have a chance to turn your idea into a successful business. 2. Write your business plan. 3. Fund your business. 4. Choose your business location. 5. Choose a business structure. 6. Choose your business name. 7. Register your business. 8. Get federal and state tax ID.