The trend that helped transform much of modern offices in Asia is no longer a trend. Like the rest of Asia, Thailand’s young professionals have found the popular coworking space a comfy fit for their businesses. Initially a favourite of the SME and start-up, coworking is also becoming a go-to for corporate organisations.
All of these populations find this style popular for a number of reasons. For smaller businesses, the cost-effectiveness of coworking is one of the main reasons many flock to these coworking spaces. Larger companies find it attractive because it can help nurture employee talent in the confines a space that focuses on community.
Let’s take a look at just some of the reasons why coworking spaces are now a staple of the Thai business landscape and how they are benefiting business.
In a culture that prides itself on respect for their fellow man, this characteristic also appears in Thai business, as well. The co-working space nurtures the professional by placing emphasis on the social aspect of business. Both formal and informal interaction play a big role in this community. In addition to hanging out by the café, the community hosts a number of events that introduce the professional to the greater community, for example, barbecues, movie night, and happy hour are social gatherings used to provide cohesion.
For small business, these events are the beginnings of great business relationships. However, corporations find coworking spaces great places to build company culture, in addition to mentor employees. If trying to team build or even establish brand identity, these spaces can give your employees the cohesion needed to establish a team with a goal.
Coworking has made such an impression on the modern office that commercial real estate outfits have found ways to parlay this office format into more lucrative opportunities for business. Thailand has put their own twist on the coworking space by collaborating with area hotels to accommodate short-term professionals doing work on Kohub Island. The coworking space offers professionals and businesses standard amenities (and surprisingly the internet connection is great), but they also offer package deals that match you with a place to stay if working in the area for a while. Essentially, this version of the coworking outfit is really helpful for businesses who need to travel to the area for any number of reasons, i.e. test new markets.
The main reason, though, coworking spaces are here to stay is because the office style offers business and professionals, alike, the ability to use the office in different ways. For the self-employed professional who simply needs a place to work, coworking provides the functionality of your standard office with all of its technologies. For those who need a space where they can network with other professionals in their own industry and others, the coworking space’s layout primes the pump of social interaction. Furthermore, this social interaction is the impetus for much collaboration.
For businesses who need the flexibility to travel, the co-working lease is such that it does not bind them to a protracted lease. In fact, professionals can find a coworking space in just about any major city. Ultimately, though, the coworking space performs a number of functions depending on the business’s needs, and for many businesses, this versatility is attractive.
The CoWorking Revolution
Coworking is no longer a revolution has evolved into a business staple. Beyond the cool factor, the co-working space brings a number of dimensions to traditional office space. By offering SMEs a place where their employees can work while being nurtured, by offering start-ups a place to network and collaborate, and by carving out a space for corporate Thailand, the business community is definitely in favour of keeping this popular working format around for a while longer.