Impact of COVID on Coworking

Impact of COVID on Coworking Spaces

The pandemic has disrupted life as we know it in a multitude of ways, particularly when it comes to how we work. Increasingly, professionals continue to prove that they’re able to do their jobs remotely in an effective way, and many experts agree that even after the pandemic, it will become more common for employees to split their time between working from home and going into an office. Last year, Twitter announced an indefinite work from home policy setting the bar for many other companies to follow. In a post-crisis economy, it’s possible only the biggest enterprises, FMCGs and multinationals will have the budgets to maintain headquarters, while small businesses and startups without the financial resources may discard the idea of having and managing a physical location altogether. Other SMEs might decentralize their workforce and spread across the country entirely. While the future of remote workforce looks very promising and is expected to grow, many of us still want a place to connect with others in person and coworking spaces are uniquely positioned to fill this void.

Even in pre-covid times, coworking spaces in Pakistan were on the rise as more and more people were becoming intrigued by community building and the collaborative working style. As the pandemic hit and like most businesses worldwide, coworking spaces too suffered great losses as the studios emptied and businesses quickly shifted to remote work in the age of social distancing and stay-at-home, in what we’re calling the “new normal”

However, coworking spaces like COLABS were quick to pivot and adapt to the new normal by introducing air-tight SOPs, reduced capacity, regular fumigation and sanitization, temperature checks and complimentary face masks and hand sanitizers. With facility management and office administration taken care of, coworking spaces provide cost-effective solutions to all possible business needs, making them an obvious choice for companies which are cutting costs and looking to survive these turbulent times. With all that said and done, and remote work gaining massive popularity, people will always need a place to connect, be social, and to find a purpose in a communal setting.

As the market suffered, many lost their jobs and have initiated their own entrepreneurial ventures. A socially conscious collaborative workspace like COLABS can provide what traditional offices can’t in terms of a tight-knit network of support to these small business owners, even after the pandemic recedes. Moreover, when small business owners seek office space, it’s incredibly rare for them to find something affordable that is also short-term. Most commercial leases are in the one to two year range and that’s a commitment that many startups aren’t in a position to make.

In many ways, coworking facilities are made for small businesses with access to amenities that would otherwise require large capital investments. At COLABS, many small business owners also get easy access to freelancers to write copy, design logos, file their taxes, and much more; it is as simple as looking over to the next desk to find someone who can help, therefore making coworking an obvious choice for many.