More businesses say co-working is sustainable, long-term

MANILA, Philippines – Recent research by flexible workspace provider Regus revealed that co-working is now considered a long-term solution for businesses.

Sharing an office space used to be seen as more of a temporary solution for budget-conscious startups or self-employed individuals who are seeking an office environment. But of the almost 40,000 survey respondents, nearly two-thirds or 67 percent said they are seeing more firms integrate co-working into their long-term business strategy.

For businesses, co-working helps them with not only their cash flow but also remaining agile and responsive to sudden market changes that are rife in the volatile global economy. 

Business people reported that firms are renewing existing co-working arrangements or making new contracts because they offer scalability and shorter terms than fixed leases, and help grow the business sustainably.

Other findings showed that 61 percent of co-working space users are small to medium enterprises. But it seems that the flexible work arrangement also appeals to more large businesses now with nearly half of the respondents saying how corporations turn to co-working from time to time in a more frequent manner.

According to Regus Country Manager Lars Wittig, businesses see the potential for sustainable growth by using shared workspaces. Both small businesses and corporations can take advantage of the flexibility these work arrangement offers to suit their needs.

“Co-working allows businesses to expand rapidly without committing to lengthy leases, and adapt to changing circumstances in a flexible way. For instance, firms looking to move in a new direction can use a co-working space to test the waters before making any concrete changes. On the other hand, if conditions in a particular market take a turn for the worse, downsizing will not incur the hefty penalties associated with traditional leasing arrangements,” Wittig explained.

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