Embracing Co-working: the success behind UAE’s Start-ups and Freelancers - MENA startups, innovation, and tech news

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Embracing Co-working: the success behind UAE’s Start-ups and  Freelancers
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Embracing Co-working: the success behind UAE’s Start-ups and Freelancers

There is something about co-working spaces that permit workers to perform always better, and this can be stated as per several research studies. The reason behind it could be anything either the non-competitive environment, a relaxed, non-office-like ambience, or perhaps the choice to unite with like-minded people. Whatever the reason may be, its fame and acceptance have ensured the survival of the concept even during the pandemic.

Irrespective of pandemic and its brutal effects, co-working spaces flourish with the social distancing measures. In this article, I will talk about the meaning of co-working space, how can people be benefited from this sort of space, and what the CEOs of major companies have to say in this regard. Pondering if a co-working space is right for you? It might be, it might not be. Let’s determine.

Understanding the term Co-working

As co-working continues to gain popularity, more and more people around the corner are raising the question about what exactly working space is? Below is the answer to your curiosity. The general definition of co-working is when people gather in a neutral space to work independently on different projects, or in groups on the same projects. It’s different from a traditional office workspace because the people in a co-working space generally aren’t working for the same company. It offers the same amenities you would find in a typical office. Major segregation that can be found is flexibility. Every co-working space will always have basic amenities like Wi-Fi, printers, usually some type of conference room and availability of snacks.

Advantages of Co-working spaces

 Motivation: There’s some sort of zeal and zest in the air when you’re in a room full of driven people. It’s nearly impossible to slack off.
 Community: In places with regulars and familiar faces, it’s amazing how far above and beyond the community will progress by being a helping hand to each other.
 Flexibility: Rather than signing a long-term lease, you can get much more flexible deals with co-working spaces. It’s great for start-ups with small budgets, and even independent freelancers can find affordable options.
 Getting Outside the Home: Working from home is great, but one can’t find the work atmosphere. Being around people is good for the work spirits, it can keep you sharp and is great for creativity.
 Networking: When you have so many faces with so much in common, it’s only a matter of time until you start to network and new opportunities start to flow gradually.

Co-working space in the context of Dubai

Dubai can be seen as a highly demanded place for Co-working spaces among entrepreneurs and start-ups. The Co-working culture is becoming an increasingly prominent phenomenon in Dubai as it provides small business owners with several opportunities that are mentioned below.
 Dubai’s Economy & SME Sector: Small & Medium Enterprises (SMEs) are considered to be the cornerstone of Dubai’s economy, representing nearly 90 per cent of all businesses and contributing nearly 40 per cent to Dubai’s economy.
 Co-working centres in Dubai: currently, there are more than 40 Co-working centres in Dubai, offering various types of Co-working packages to freelancers, small business owners and start-up companies. These packages start from as low as Dh 350 (US$ 100) per month and go straight up to Dh 4,500 (US$ 1226) per month depending on the type of services and features that the business owners select.
 Co-working Benefits to Small Business Owners: Research findings indicate that Coworking spaces in Dubai play a vital role in diminishing the start-up costs and generate long term savings of 50 per cent compared to conventional office space.
 Investment Opportunities in Co-working Segment: Dubai and UAE have always been investment-friendly destinations offering an alluring investment environment to international companies. The country has also developed world-class infrastructure in the form top quality airports, hotels, public facilities and economic zones, which further proceeds to evolve globally.

The way forward

Imran Farooq, CEO of Star Business Centre on the vitality of Co-working space said that“There is a tendency among small business setups that they are paying money for the spaces that aren’t getting used.” In contrast to “the co-working space minimises operational and capital expenditures.”After COVID-19, we reduced the occupancy from 6 per cabin to 2.Special plastic sheets were placed at the reception and nobody could enter without being checked thoroughly. And 50 per cent of staff moved to work from home.

Matthew Sexton, director and founder of SAY studio draw the workers kind attention towards the benefits of Co-working and said, “The principles of co-working remain consistent though the lively and flexible common areas, closed units for focused working, and shared facilities such as meeting rooms and breakout spaces.“One of the key advantages of co-working is the capability to cross-pollinate with like-minded professionals. It is because of this that the common areas generally tend to be where the main design focus lies. There is also a crossover between corporate spaces and residential, with more lounge-type environments. This is due to the relaxed nature of common areas and supports the way these spaces are used.”

Moreover, the demands and expectations of young entrepreneurs in Dubai who aim for a more dynamic environment and comfortable lifestyle have made the Co-working model extremely growth driven in the emirate. And according to experts, cities like Dubai will have significantly more Co-working spaces in future than there is present.

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