Running a business requires entrepreneurs to face a myriad of obstacles. Among them, honing a product idea, developing a business plan, forming a strong team, and also finding the perfect space wherein the business can grow. This last task has proven challenging for many entrepreneurs, especially in Southeast Asia where office vacancy rates are among the lowest in the world. These circumstances have encouraged startups and SMEs to explore options outside of conventional office leasing; thus the trend of short-term workspace solutions, particularly coworking, has taken flight in the region.
At the beginning of the year, Deskmag counted 7,800 coworking players around the world. Forecasts indicate that there will be 16,100 by year-end. The largest spaces, in terms of number of members, are located in Asia. Coworking has come a long way from the first space that opened in San Francisco back in 2005. Today, the short-term collaborative workspace solution is growing at staggering rates per annum, and Cushman & Wakefield project that it will occupy 15% of total office supply in Southeast Asia by 2030.
Trehaus, SingaporeRead more
“At Zalora, your purpose is not just to collect your paycheck at the end of every month. Maybe that’s what your parents wanted you to do because that’s what they did,” begins Paulo Campos, CEO and co-founder of Zalora Philippines. “As for me, I’ve always blazed my own trail. Here, we have a sort of trinity wherein happy employees plus happy customers equals happy company. It’s the sense of community that makes our employees like working here. This is what makes us successful.”
Fostering the Transition to Short-term Workspaces in Modern Business: FlySpaces, Southeast Asia’s “Airbnb for Workspaces” Expands to Hong Kong
Hong Kong, China— The use of short-term workspaces is gaining momentum in cities all around the world, allowing freelancers, small business owners, and independent workers to rent a working area that is free of long-term commitments and entry barriers. More and more businesses are opting for this kind of office lease over those of the conventional nature for its increased flexibility, convenience and affordability. With the rising popularity of coworking spaces, the preference for short-term solutions is catching on across the globe, and Southeast Asia is no exception.Read more
Situated at the junction of two great rivers in the vast Klang Valley is Kuala Lumpur, a name that literally means “muddy confluence.” Nowadays, it is a sprawling metropolis marked by soaring skyscrapers and surrounded by lush greenery. Pulsing with life and energy, it is more than just the capital of Malaysia. Kuala Lumpur (KL) is at the heart of industry, commerce, finance, history, culture, and modernity in the country.
Having been in the business of flexible work spaces for over 20 years, Regus has provided serviced offices to numerous Fortune 500 companies, and currently operates 2300 business centers across 120 countries worldwide.Read more
Since 1995, Hong Kong has held the highest degree of economic freedom, according to the Index of Economic Freedom. As a central harbor point and gateway to the rest of Asia, its economy is heavily dependent on international trade and finance. Hong Kong was recently ranked as having Asia’s highest amount of foreign direct investment, for both inflows and outflows, next to China and second only to the US globally.Read more
In recent years, thanks to the surge in remote workers and opportunities in the growing gig economy, shared offices and coworking spaces have experienced a modern renaissance, with innovative office concepts and novel workspaces proliferating across the globe.Read more
Driven by an enterprising spirit, Singapore’s coworking environment has developed alongside the country’s progressive economy. With a supportive business community, including financial backing from the government, shared office spaces have grown from a burgeoning trend into a respectable standard. With the work force shifting to flexible office concepts, these creative fields have become hubs of activity and collaborative inspiration.
THE GREAT ROOMRead more