How Shared Office Are Changing the Way To Work
A shared office, also known as a co-working space, is a workspace that is shared by individuals or companies from different industries. This type of office space has gained popularity in recent years due to the rise of freelancers, startups.
One of the main benefits of a shared office is that it provides a collaborative environment that fosters creativity and innovation.
However, the question can be asked, “How to Build a Strong Network in a Shared Office?”
Being surrounded by people from different backgrounds and industries can inspire new ideas and solutions to problems.
How to Build a Strong Network in a Shared Office Space
Building a strong network in a shared office space is crucial for individuals looking to expand their professional connections and opportunities. Here are some tips to help you build a strong network in a shared office space:
- Attend Networking Events: Many shared office spaces host networking events, such as happy hours, workshops, and seminars. Attend these events and take the opportunity to introduce yourself to other members.
- Participate in the Community: Shared office spaces often have online forums or social media groups. Where members can connect and share information. Participate in these groups by offering advice, asking questions.
- Offer Your Skills: If you have a particular skill or expertise, offer to help other members with their projects or tasks. By providing value to other members, you can build trust and establish yourself as a valuable member of the community.
- Attend Workshops and Seminars: Many shared office spaces offer workshops and seminars on various topics. Attend these events and take the opportunity to learn from industry experts and connect with other members who share your interests.
- Use Common Areas: Shared office spaces often have common areas, such as lounges, kitchens, and coffee bars. Use these areas to strike up conversations with other members and get to know them on a personal level.
The most recent research report predicts that the worldwide flexible office market will be worth roughly USD 55.20 billion in 2021 and will generate USD 201.28 billion in sales by 2030, with a CAGR of roughly 20.34% between 2022 and 2030.
Top 5 Benefits of Shared Office Renting
- Cost-Effective: Renting a shared office is a cost-effective option compared to traditional office renting. It allows you to share the cost of rent, utilities, and other expenses with other individuals or companies. This can save you a significant amount of money and free up capital to invest in other areas of your business.
- Flexibility: Shared office renting provides flexible membership options, such as daily, weekly, or monthly rates, allowing you to choose the membership that best suits your needs and budget. You can also choose the workspace that best fits your work style and needs. Such as private offices, open desks, or meeting rooms.
- Networking Opportunities: Shared office spaces often host networking events and provide opportunities to connect with other professionals from different industries. This can help you build a strong network of contacts, share ideas, and collaborate on projects.
- Professional Environment: Renting a shared office provides a professional environment that can help you establish credibility with clients and partners. It allows you to work in a dedicated workspace that is designed to meet the needs of modern businesses.
- Amenities and Services: Shared office spaces often provide amenities and services, such as high-speed internet, printing and scanning facilities, reception services, and access to conference rooms. This can save you time and money by providing everything you need in one convenient location.
Shared Office VAT & TAX Policies
Shared office providers must register for VAT with the National Board of Revenue (NBR) if their annual turnover exceeds BDT 3 million.
Shared office providers must charge VAT at a rate of 5% on their services and remit the same to the NBR.
If the shared office provider rents out the space without providing any additional services. They may be exempt from VAT if the rental income is less than the VAT registration threshold of BDT 3 million.
Shared office providers are required to pay income tax on their net profits, with the tax rate varying based on their annual income.
If the annual income of the shared office provider exceeds BDT 25 lakh, they are required to pay a tax rate of 30%. If the annual income is below BDT 25 lakh, the tax rate may vary between 10-25%.
A Comparison Between Shared Office & Coworking Space
Shared Office Spaces
Shorter-term leases or memberships
Basic amenities such as Wi-Fi and desks
Full range of amenities such as printing, conference rooms, and lounges
More private with designated workspaces
Less private with shared workspaces
Smaller and more intimate
Larger and more diverse
Limited networking opportunities
Extensive networking opportunities
Lower costs for dedicated desks or private offices
Higher costs for more amenities and flexibility
Shared office spaces have become a popular alternative to traditional office spaces for individuals and businesses in recent years. With its cost-effective, flexible, and collaborative nature. Shared office spaces offer a range of benefits that can help individuals and businesses thrive.
These benefits include networking opportunities, access to professional environments, and a range of amenities and services. Additionally, shared office spaces provide a sense of community and support. Which is especially important for remote workers or freelancers who may feel isolated working from home.
Overall, shared office spaces provide an affordable and flexible workspace solution that fosters collaboration, creativity, and community.
If you have any questions to ask, Please Contact Us!
- What are the benefits of renting a shared office space?
The benefits of renting a shared office space include cost-effectiveness, flexibility, networking opportunities, access to professional environments. And a range of amenities and services.
- Is a shared office space right for my business?
Shared office spaces are an excellent option for freelancers, startups, and small businesses that need an affordable and flexible workspace solution. They offer a range of amenities.
- What is the difference between a shared office space and a traditional office space?
The main difference between a shared office space and a traditional office space is that shared office spaces are shared by individuals or companies from different industries. While traditional office spaces are typically leased by a single company.