From a handful of tech companies to thousands of innovative enterprises. India’s start-up ecosystem has seen a meteoric rise, with one new start-up or more appearing on the scene every day. During the lockdown, start-ups re-imagined their businesses, explored new distribution channels and new customer segments. E-commerce was on the rise. Start-ups even gave rise to more start-ups like enablers and incubators. 2021 began with accelerated growth in start-ups compared to many other industry segments.
As they enter the business landscape, however, budding start-ups face operational challenges. With little working capital, they must find agile ways of running their businesses. They need to establish a base, set up an address that would otherwise be unaffordable at this stage, and have an office space where they can get down to business immediately.
This is where business centers such as those in Chennai, Hyderabad, Bangalore, and Mumbai come in, offering serviced office spaces specially designed to meet the needs of today’s start-ups.
Benefits of serviced offices
- Flexible rental terms (which don’t tie you down to long-term contracts)
- Cost-effective (as compared to renting and running an office space on your own)
- Fully furnished and equipped ready-to-use office spaces of different sizes and capacities –such as complete offices, single and shared office spaces
- The entire infrastructure is taken care of –running of the office, maintenance, staffing, utilities, security, 24×7 connectivity
- Access to all facilities needed to run a business (pay-as-you-go for the services you use)
- Ability to scale up or down as required (imperative at a time of uncertain futures)
- Access to conference and multi-purpose meeting rooms (with facilities for virtual meetings)
How business centers can help start-ups grow?
- Prime locations – a premium address in the city’s business hub
- Flexibility – no locking up of finances with long leases, deposits, and legal fees
- Staff and operations management – undertaken by the business center, leaving start-ups free to focus on business growth
- Ambiance – that inspires creativity and fresh thinking and creates a good impression
- Access to a network of centers across the country – enables start-ups to test the waters in new markets while minimizing risk
- Networking opportunities – Start-ups connect with like-minded people in the business center. Business leads are often generated over a cup of coffee
- Building a reputation – a modern, professionally-run business center helps build the reputation and credibility of the start-up
Flexible office spaces – in Chennai, Hyderabad, Bangalore, and Mumbai represent a shift away from conventional office spaces that had segregated rooms. They are financially liable for new entrepreneurs as they do away with long leases and hidden costs. There are less isolation and greater interaction between users, which makes the office space more dynamic.
Evolving technologies and a burgeoning domestic market are the catalysts for the unprecedented growth we are seeing in the start-up sector. Business centers offering freedom and flexibility play an important part in this growth story.