Dhaka based flexible office space solution provider CoSpace has resumed its operation as Bangladesh slowly emerges out of the coronavirus pandemic lockdown. Being an office space provider and ready office management company, CoSpace says the company has been seeing an excellent response from the market as businesses slowly resume operations. The company eyes to take the opportunity by providing innovative and timely office solutions to startups and corporations amid a changing need for physical office.
Coronavirus pandemic has forced the greatest remote work experiment in the history of work. More and more businesses are adopting working from home and remote operation in order to contain the spread of the virus and reduce its effect on people. While businesses are slowly resuming physical operations, albeit with precautions, most companies continue to keep their physical office presence limited. Many companies see physical offices render unnecessary. Others have significantly divested their investment from physical office to other areas of operation.
As demand continues to fall across sectors and verticals, coronavirus pandemic continues to affect businesses negatively. Combined with these two forces many companies are seeking to find a balance between flexible work and saving money on office space.
CoSpace aims to tab into this opportunity as companies look to save money on office and flexible work gains popularity across verticals. CoSpace offers a solution that perfectly combines these two paradoxical priorities - you can save money on office space by renting a space according to your needs and the space comes with built-in flexibility.
Founded in 2019 by Fahad Ibna Wahab, CoSpace operates a coworking space in Banani, Dhaka where it provides fully furnished managed office spaces to startups, individuals, small teams and enterprises. The space comes with excellent facilities such as high speed internet, central AC, reception, cafe, shared meeting room, desk with locker, and an excellent working environment designed with keeping productivity of users in mind.
The coworking space has 250 seating capacity and already hosts 14 startups and 5 enterprise clients.
CoSpace offers complete office solutions to companies, both startups and medium size organizations. The company currently offers three solutions:
1. Virtual office: Virtual offices can be used as a commercial address for your business which is often a challenge for many people who either work from home or maintain offices in residential areas. People can use the CoSpace address to register business when they still work from home or don’t have an office in a commercial address. It means in order to start a business, you don’t need to rent an office and spend huge cash upfront. You can take a virtual office package from CoSpace and start your business.
2. Shared space: CoSpace manages full-furnished coworking spaces at the heart of Dhaka where it provides office desks in shared space as well as private office cabins to individuals and small teams. The company already works with a number of startups and corporates and hosts a good number of small offices.
3. Private office cabin: If you are looking for a dedicated private cabin, CoSpace offers private office cabins for both individuals and small teams. The space has three types of private cabins for one person to ten persons. CoSpace also offers custom designs to teams if you ask for one.
3. Enterprise Solutions: Apart from shared office solutions, CoSpace also provides enterprise solutions to companies where it helps companies to locate the best location, furnish the space and manage the space afterward. This eliminates the investment and management hassle for the companies. In simple, apart from coworking space and private office space, CoSpace also provides office management solutions for large office requirements.
Office continues to be a big expense for most companies across size and verticals. Similarly, office is a major factor in productivity. A well-designed and humane office helps improve employee productivity. But often an upfront investment in office does not make sense for most businesses.
This is more true now as companies across sectors and verticals suffer from widespread fall of demand due to the coronavirus pandemic and are looking to control cost.
CoSpace provides an excellent alternative to companies looking for a cost efficient office option.
Zero investment: Offices are expensive. You not only need to invest in infrastructure, interior, and designs, you also need to invest in furniture and other areas. CoSpace allows companies to save money in all these areas by providing a fully furnished office with all required furniture where you don’t need to do anything and can move in anytime. CoSpace takes care of everything from furniture to interior to air conditioning to flooring to technology infrastructure and anything that requires.
Everything covered: From electricity bill to high speed wifi, CoSpace manages everything. You don’t take any hassle in office management.
Flexible terms: Often when you are taking an office, you require a long lease term. With CoSpace you always have a flexible lease agreement. For a month or a year, with CoSpace’s super flexible terms you won't be bound with decade long lease terms.
Flexible work was already a substantial trend across markets even before the coronavirus pandemic. Working from flxible offices and WFH were already on the rise. The trend has now found another lever of growth - the coronavirus pandemic. The pandemic has forced every company across verticals to operate remotely. The change is likely to persist in years to come.
There are two potential shifts coming into the workplace in Bangladesh. One, more people and companies are going to embrace WFH and flexible work. Two, the need for dedicated expensive office spaces is going to decline.
As employees prefer to work from home or work flexibly and companies look to minimize cost, dedicated office space is going to be a less preferred choice.
Coworking spaces like CoSpace offer a fitting alternative to both companies that are looking to reduce office expenses and offer more flexibility to employees as well as to employees who are looking for flexible workspace.
CoSpace offers a number of benefits to the companies. Since it offers ready office space, there is no setup cost and time lag in terms of moving into the office.
Similarly, it offers ultimate flexibility in two ways: 1) you can work flexibly. The space is cool and well-designed and prepared keeping productivity of users in mind and 2) if you are aiming to control cost as a company, you can control cost. You don’t need to rent a space for 10-15 people. You can simply rent for a few people and slowly scale if you need more space as you go.
Flexible work or not, offices will remain relevant for years to come. However, the nature of the office is going to change. This shift has already begun. Companies are adapting to flexible work for many reasons.
On the one hand, flexible work works. With the pandemic forcing many companies to adopt WFH, companies that used to resist flexible work in the past are slowly finding out that flexible work not only produces results, it is in fact better in many ways.
Similarly, the pandemic has forced companies to reduce cost in areas where they can. Since office remains unused amid the pandemic, companies are taking a call by reducing expenses on office. But you need an address, if you are to leave your permanent office for now. Similarly, if you want to cut costs, you need a place to work out of and work together.
These make coworking space like CoSpace a perfect alternative for startups and companies that are looking for an alternative. CoSpace not only offers you an excellent flexible workstation, it also allows you to control cost significantly.
CoSpace: Proving flexible workstation and virtual office at an affordable cost to entrepreneurs and founders in Bangladesh. Learn more here.