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
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
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.
