The Growing Popularity of Serviced Office Space in Mumbai

1. The Growing Popularity of Serviced Office Space in Mumbai With start-ups paving the way for future entrepreneurship in the country, premium working spaces are in high demand. In today’s world, the concept of coworking space is rapidly picking up pace among youngsters embarking on a new business journey. What is a Serviced Office Space? A serviced office is a fully furnished, pay-as-you-use space, equipped with exceptional amenities and technology and is managed by an operator. Serviced offices are also referred to as business centres or executive offices. In contrast to traditional offices involving a range of hidden costs, serviced offices charge a transparent monthly fee to help companies scale up or down as per their needs. Shared offices are hence, a boon to businesses who intend to elevate or move out at short notice. Serviced office spaces are serving as a part of a global paradigm shift as businesses venture into more agile ways of working in a productive environment. It is not just a term but a concept that encourages a community of like- minded professionals to come together and share creative ideas that drive a wave of change. While working from home might seem convenient to many, the drawback associated with operating a business from home is that it completely eradicates the concept of work-life balance. Moreover, the exercise might save your expenses and commuting hours but constant workload can lead to stress and health problems. Hence, in order to set clear boundaries between work and family, opting for a serviced office space becomes vital. Reasons Behind their Popularity in Mumbai The changing perceptions of modern workplaces are highly responsible for giving rise to a space that allows employees to work in a friendly and creative environment. According to experts, the serviced office sector is expected to grow by 25% every year with the market already estimated to be worth $700 million. One of the most obvious reasons for their popularity among start-ups and SMEs is their flexible working conditions. Serviced office spaces also help companies in managing expenses when their growth cannot be projected. Mumbai is a hub of businesses ranging from a scale of start-ups to multinationals. Hence, for a number of small- scale companies in Mumbai, renting a serviced office space can serve as an exceptional way to expand and uplift their businesses at a minimal cost. In addition to this, having a serviced office space in Mumbai also helps in:

2. Maintaining a constant professional presence Establishing the desired reputation without the need to invest more Ensuring seamless business operations with the availability of exceptional amenities • • • Along with these benefits, furnished office spacealso attracts the client’s attention which ultimately helps in increasing the credibility of your business. Moreover, these collaborative spaces allow staff members to work more efficiently thus, helping in your team’s enhanced productivity. Another major advantage of opting for fully furnished office space in Mumbai is the availability of a physical address for your business in a commercial location. This not only builds a strong professional image of your company but also instils a sense of trust in your prospective customers or clients. Working in a serviced office space enables businesses to network with similar professionals and build formal relationships or explore possibilities of partnership to boost their business. In short, the benefits of having a serviced office space in Mumbai are endless. Serviced office spaces are gradually being viewed as a trend that drives a dynamic and vibrant culture of corporate productivity. They are filling the gap between crouching in the corner in cafes to having your own commercial offices. Serviced office spaces have the potential to build an innovative work environment that appeals to a younger workforce. They have broken the mould in creating workspaces where individuals and companies can meet, communicate, and exchange ideas in order to empower their business. Serviced office spaces also prevent an entrepreneur from investing in a complete office set up. All they need to do is opt for the required number of workstations and they are ready to begin their professional journey. As a result, these shared offices are not only being opted by small scale enterprises or start-ups in Mumbai but are increasingly being chosen by larger companies to expand their businesses.