Building Dreams in Manila: Coworking Spaces and Start-up Companies
Why are coworking spaces and start-up companies perfect for each other?
1. The rent is affordable compared to long-term office leases.
2. The rental leases are flexible and allow companies to move to bigger areas of the space when they expand.
3. There is a community of like-minded entrepreneurs in coworking spaces that the collaborate with each other or just offer inspiration and advice to each other.
4. It’s a professional place to meet up with clients compared to a coffee shop.
With so many office spaces available dotted all over the map, one may wonder why coworking spaces in Manila remain so dominant, especially when it comes to attracting startups. The demand for it comes from those who want to be able to work comfortably without having to deal with the high costs that come with acquiring, building, or even maintaining an actual office space.
That means that Manila’s coworking spaces are perfect for solo freelancers or young entrepreneurs who want to be able to experience the luxuries of having a traditional office space without having to worry about the baggage that comes along with actually having one. And while that may be the main reason for many to adopt the habit of working in a coworking space, there is a multitude of other possible reasons:
Just like mentioned above, coworking spaces in Manila are very affordable compared to a long-term office lease. It’s perfect for any business’s initial budget. While the rent at one is a bit more expensive than buying a large cup of coffee at your favorite local coffee shop, it doesn’t leave you with that dreadful feeling of staying somewhere you don’t need to be for 8 hours. Plus, the coffee is usually free in coworking spaces. Just bring packed lunch daily and you don’t need to spend on anything else on top of the rent.
Grow The Space as You Do
The great thing about renting a coworking space in Manila is that these establishments usually have flexible rental setups. This means that you don’t need to rent a single space every single month. You can change as you go. With such a rental setup, you can start off with just yourself and 5 employees on a table in the coworking space’s public area. Then, when you start earning more, you can hire more employees and move to a bigger area. Of course, you will need to pay more for a bigger space.
Building a Close Network is Easy
The community of businesses that can be found in a single coworking space in Manila can be very diverse. You may find a law firm, video production company, tech startup, and graphic designers all in one office; just divided by their individual spaces. This opens up many possibilities for you to expand your network and gain beneficial contacts for your business. After all, you’ll never know when you will need graphics, notarization, production, or eve product reviews. Being that most people in coworking spaces are like-minded entrepreneurs, starting a connection in such a space will be easy.
Also, coworking spaces are filled with freelancers too! Making them your business contacts could provide you with quality service on a project basis. This will be useful for you when your initial budget cannot afford to have a regular designer, accountant, etc. In fact, it’s not uncommon for a whole group of freelancers of different specialties to be available in coworking space in Manila. Often times, these freelancers do projects for their fellow tenants.
Not to mention, working with said individuals will be a breeze because setting up a meeting is just as easy as walking over and saying hi.
A Good Work Environment
As aforementioned, there are many like-minded individuals in a coworking space. This not only makes for really good business contacts, but also a source of inspiration and support. Sometimes you will need that when you realize how difficult the startup life could be. There will be days that you will feel insecure and like you want to give up. Surrounding yourself with people that fight through these feelings every day will encourage you to do that same.
Also, there could be 1000+ things that you don’t know about business. When you are surrounded by fellow start-ups that are just a bit ahead of you in the game, then friendly advice could just be a few steps and words away from you.
A Professional Meetup Place
Basically, meeting up with clients in coworking spaces is much more professional that meeting in a coffee shop. Most coworking spaces in Manila even have conference rooms where you can set up big presentations on either a projector or a big screen TV.
In a coworking space in Manila, you can find a workplace that is affordable, flexible, professional, and with a great work environment. The only limitation is that you’ll need to move out when your startup becomes a bustling company with 100 employees.