Embracing the Trend of Co-Working Spaces in ASEAN Countries

Co-working spaces expose entrepreneurs to various chance and opportunity while remaining cost-efficient


Wilson Twoon

9 Feb, 2022

Embracing the Trend of Co-Working Spaces in ASEAN Countries | BEAMSTART News

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Co-working is a growing concept amongst ASEAN countries, even though it has been explored by Western countries with the likes of Google's work culture.

The concept of co-working spaces

  • First inspired by open-source software precepts and the dot-com boom
  • Independent contractors, freelancers, and founders were tired of working in isolation, hence the desire for human interaction
  • Gathers independent workers in a common space shared with talented people who can foster connections

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Common values of co-working spaces

  • Collaboration
  • Openness
  • Community
  • Sustainability

With the growing concept of co-working spaces, should up-and-coming entrepreneurs particularly in ASEAN countries embrace it? 

Here is a SWOT analysis of co-working spaces:

Strengths:

  • Provides a social experience, thus avoiding loneliness and unproductive work at home 
  • Reduce the hassle of managing an office such as maintenance and rent as compared to renting a co-working space 
  • Acts as a networking platform as co-working spaces comprise people from all walks of life

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Weaknesses: 

  • Problems of intellectual property where entrepreneurs may want to protect their innovations 
  • Lack of equipment as most co-working spaces are catered to white-collar employees with a laptop

Opportunities: 

  • Should be explored by traditional hierarchical companies 
  • Brainstorm specific co-working spaces catered to various industries 
  • Upcoming startups should consider as it fosters brainstorming 

Threats:

  • Competition from cafes offering free wi-fi with a purchase of coffee 
  • The trend of work from home defeating the necessity of a co-working space

Co-working spaces have their advantages and disadvantages and it would be dependable on various circumstances to determine the need for one.

Article Reference: 

Leforestier, A. (2009). The co-working space concept. CINE Term project.


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