Shared Office Space Give To Startups A Workplace
Flexible workspaces are the ideal way to respond to the hybrid work concept in a post-pandemic setting, as opposed to options like changing current office designs or the hub-and-spoke model.

People in Dhaka are being forced to work from home and meet with clients at restaurants or coffee houses due to soaring property prices. This is particularly true for startups, who are often operating on a tight budget.

This tendency, on the other hand, has spawned a fairly new phenomenon in the capital: the common office, often based on the shared office space, that addresses the area crunch experienced by startups, sales teams, and individuals.

The idea of a co-working space is straightforward. Hire a workspace that meets your needs and is at a convenient location. Use free, high-speed Wi-Fi, as well as a suitable ambiance and solitude, to conduct meetings and do your work.

According to a CII analysis, the coworking market will double in size over the next 5 years, with a 15 % compound annual growth rate.

“We founded HostBD to solve our own concern, which was getting stuff done in a cost-effective manner," stated Mr. Nazrul Islam, creator of Host, Dhaka's latest and trendiest co-working office space.

Mr. Nazrul, an IT specialist, was having difficulty meeting his clients. "Because my colleague Benzir Kamal and I couldn't afford to rent an office space in a good location, we had to deal with customers in coffee shops." Our clientele, on the other hand, didn't always feel at ease at restaurants. "We met a contractor in a café in Bashundhara who felt excluded in such a setting," he said.

"Our expenses were also rising as we were required to pay the high coffee shop rates," said Rakib Hasan, HostBD’s assistant manager. "That's when we came up with the idea for Host, a co-working space where emerging businesses could work and meet potential clients in a professional setting," he explained.

Furthermore, he continued, freelancers and other experts who don't work for the entire year might save money by renting a co-working space to run their business during the off-season.

"People nowadays don't need a landline that is permanently linked to a wall, and they don't have to sit in front of the phone every day." An office worker could be transportable and run a business on the fly. Paying for a filled office for so many of them will be a waste of resources," Mr. NaZrul added.The concept of a shared office space for professionals, similar to what host offers, first appeared in Dhaka in early 2012.

Around 40% of co-working spaces are profitable in 2019, according to a DeskMag poll, whereas more than 70% of all co-working offices finally became profitable within two years of operation.

Compared to options like modifying existing office layouts, flexible spaces are the preferable way to adapt the hybrid working model in a post-pandemic environment.

Co-working spaces encourage collaboration.
A co-working space is an excellent area to meet and network with people from various industries. People can learn from one other's successes and errors because of the opportunities for social engagement, work collaboration, and networking.

The work atmosphere has a positive impact on people's productivity, which will not certainly be the case in a regular work environment.

"Other than being cost-effective, membership also has full flexibility and independence because there is no big commitment in leasing an office," Mr Rakib Hasan added when asked about the benefits.

"These are usually in handy places as well as provide a feeling of community as well as networking possibilities. It also has event spaces and private meeting rooms, allowing entrepreneurs and companies to arrange community events to meet potential clients and hold meetings with partners," he noted.

"While most entrepreneurs go to cafes to work long hours," Mr Nazrul continues, "shared office spaces facilities also provide a free supply of tea and coffee to guarantee that its members are as productive as possible."

Changing the way people think about working environments

Co-working office spaces take a forward-thinking approach to improving the workplace culture and environment by reducing expenses while also providing for a wide range of collaboration and networking opportunities.

Even if cost savings are still a major motivator for people to use co-working spaces, the increased future of business over the previous decade is also a factor.

Mr Rakib also believes that the rise in entrepreneurship over the previous decade has sparked a major increase in demand.

"The Bangladeshi youth community, which feels responsible for the future, is rising with a comprehensive perspective," he says. The current pandemic has highlighted the importance of young innovative entrepreneurs in reshaping the new reality and addressing the most serious concerns of our day."

The development of shared office spaces in our country has indeed been significant, despite the numerous myths and drawbacks.

As a result, it's critical to recognize how crucial such venues have been in advancing Bangladesh's collaborative work environment.