As a startup founder based in Singapore - one of the top business hubs in Asia's emerging market - should you share an office space or lease one of your own? In these modern days, the traditional office seems to be blurring. We live in an environment that is always evolving, and the concept of where we work is similarly subject to change.
Before I left Indonesia to pursue my tertiary education in the United Kingdom back in 2014, I recall there was little buzz around ICT and the infrastructure supporting it was notably poor, startups and mobile apps weren't really a thing either and there wasn't any ride-hailing or e-commerce solutions available (commercially at least). During my time abroad, I relish at the seamless integration of technology into my daily life. The likes of Uber, Ocado, Deliveroo, and Amazon have drastically changed my lifestyle. Everything was so convenient, I would never be able to enjoy this in Indonesia, certainly, so I thought.
Starting your own company can be an exciting time, and you may want to go out and get your own office space right away. However, whilst your company is still in its infancy this might not be the best decision, financially or otherwise. Instead, you should consider a coworking space as the homebase for your startup, plus they're 10-30% cheaper than a traditional office. And if companies such as Uber, Eatigo, Zalora, and Booky used coworking spaces, there must be something to them.
As a startup ourselves, we've gone to plenty of events and conferences all over the region. No matter their scale, we've always learned something that will help in either starting or growing our business.
Catering to the increasingly young and tech-savvy population now entering the workforce, coworking spaces have sprouted up all over Manila. However, they’re more than just places to work - they’re community builders that integrate the feel of your neighborhood coffee shop with the functionality and professionalism of a traditional office. As each of them is unique in the spaces or services they offer, you’d be hardpressed to not find a coworking space suited to your needs.
A quick Google search of startup founders will more than likely present you with images of relatively young entrepreneurs. This goes hand-in-hand with the idea most of us hold, that startups are run by cool, hoverboard-riding millennials. But statistics say otherwise. It seems the reality, maybe not as sexy, is that most successful startups are in fact, run by the hoverboard-riding millennial’s mom and dad.
WeWork and FlySpaces share the goal of easing the growing pains of small businesses by providing workspace solutions. It's no longer just about growing fast but growing strong. WeWork understands that aside from a space that is beautifully and thoughtfully constructed, an authentic team culture, enriching challenges, and work-life balance is conducive for productivity. These elements are crucial for companies with the elusive-but-attainable dream of becoming the next unicorn. And FlySpaces will help bring that to Southeast Asia!
On a mission to make Malaysia the startup capital of Asia, the Malaysian Global Innovation & Creative Center (MaGIC), under the program direction of Jowynne Khor, strives to connect the dots linking entrepreneurs with valuable resources, to establish networks that spark collaborations, and to create structural improvements in the startup ecosystem.
Focusing on three core activities, MaGIC strives to support the success of startups in Malaysia.
Your brand new business and the hungry rag-tag team will eventually outgrow crowding into noisy coffee shops. However, you still need a professional space for functions, meetings, and a business address to put your best foot forward. The problem is finding time and focus away from your baby in order to research and negotiate the right office space.