Co-working Spaces and Why Pakistani Startups are Choosing Them?

Wondering if a co-working space is right for you? Here are the reasons why co-working spaces are gaining popularity among the Pakistani Startup community

Co-Working's Service Model:

Co-working spaces are generally rented office spaces that involve individuals working independently or collaboratively. They provide spaces at an affordable cost to people in dire need of an office environment. The owner is responsible for creating a work-centric atmosphere and office equipment and amenities found in a typical office. Owners are tasked with optimizing office space and fitting in teams without disrupting the current setting. Moreover, they provide flexibility to companies looking to expand their teams, grow their business, and opt for a bigger office space. Similarly, co-working spaces offer value-added services like networking events, forums or exclusive amenities.

Why Co-working?

Since the last century, we have confined ourselves to work in a four-walled setting with concrete rules and regulations, placing it at the heart of our social construct. Opponents have argued that conventional work models have a declining quality of work and haunt employees of their work-life balance, leading to greater employee turnover. Moreover, productivity measuring metrics such as hours worked are becoming an abstract term as businesses are beginning to prioritize quality over quantity.?

Recent technological advancements such as collaborative tools and global communication forums have facilitated the launch of flexible working environments. Unlike traditional workspaces, flexible co-working spaces improve their procedures and add more value to the co-working experience.?

Many influential companies were skeptical about the most major shift towards flexible and remote working, but numbers proved otherwise. CompTIA (Computing Technology Industry Association) conducted a web survey of 212 companies of different sizes in the U.S., Canada, and Great Britain. The companies polled that offering their employees the opportunity to telecommute increased productivity (67%), reduced expenses (59%), improved employee dexterities (39%), boosted staff retention (37%), and lowered health problems (25%).

Furthermore, according to Harvard Business Review, a well-designed work experience and environment can have higher levels of thriving members. They suggest that companies that provide a co-working experience should provide substantial autonomy and control to their members. More control enables employees to be their best selves and thrive.?

Similarly, co-working spaces in Pakistan play a massive role in encouraging startups and easing their transition to the conventional working space. In layman's terms, they keep them grounded?before properly launching and establishing their enterprise.

The startup-sphere of Pakistan is experiencing a boom like never before, accumulating more investments than it has done in the past six years. CEOs of VC-funded startups and independent ones are at a loss for options in setting their own offices due to cost constraints and administration costs, inevitably opting towards working remotely or out of an incubator.?

Startups miss out on crucial networking opportunities and remarkable talent when focusing on the budget. Co-working spaces play a key role in connecting startups to their next big investor, client, or employee. That's why COLABS helps provide startups with important connections that create possibilities for growth and innovation.?

Finding the right people at the right time is incremental for startups.?

This is where COLABS enters the fray. COLABS revolves its values around community building, innovation and sustainability. We combine these elements to create a cohesive work environment integrated with opportunities for growth and development. We personalize our services to cater to the demand of our community.?

Community Stories:

We asked a series of questions from our community members about flexible working spaces, conventional offices, and their experience with COLABS.

Hasan Khan, CEO - XCALYBR

Hassan, CEO of XCALYBR, a consultation firm, has been using co-working spaces for the past four years and has been in COLABS for the better part of last year. He states that "co-working helps develop a routine where I don't have to bring the work home and create a work-life balance". Furthermore, Hassan says that co-working spaces allow him to work on his core product rather than divert his attention to maintenance and administration. He further mentions that COLABS provides an environment of like-minded individuals that help collaborate and work. Hassan said a recent problem was dealing with resignations, which was met with the mobility and flexibility co-working provides. If a person resigns, you can simply stop paying for the vacant seat. Lastly, Hassan stated, "COLABS presents a good impression on our clients as we hold meetings within the facility, partly due to its design."?

Mustafa Hamza, Founding Member - Krave Mart

Mustafa, a founding member of a rapid-delivery service called Krave Mart, has been a part of our community ever since they expanded their operations in Lahore. He states that co-working spaces like COLABS have helped alleviate burdens of administration, maintenance and other office expenditures, allowing them to focus solely on their work. He says, "COLABS provided value-added services which would be a hassle if you pursue them on your own." Mustafa adds, "as a startup, there is a lot of moving around, and you have to adjust employees, but with co-working spaces, you can stay mobile and account for them quickly. A big plus was that COLABS provided a bundle of options concerning conference rooms, whether small or large; this enabled them to host meetings with great ease.?

Bilal Mumtaz, Co-Founder - Ailaaj

Bilal, Co-Founder of a digital healthcare platform called Ailaaj, spoke to us about his company's expansion after the seed funding. Ailaaj was a product of a recent merger between sehat.com and Augment Care, which resulted in a company-wide shuffling of employees. Bilal stated, "After Ailaaj received seed funding, we doubled our staff, and COLABS helped facilitate our employees and solve issues with mobility." He supports COLABS' mission to empower 100,000 entrepreneurs, which sets them apart from other co-working facilities. Bilal further expresses that COLABS helped accommodate them in meeting budding entrepreneurs, VC's and talent to help them grow.?

Bushra Latif, Founder - Nani.pk

Bushra is the Founder of Nani.pk, a holistic e-commerce startup dedicated to educating mothers worldwide. She has been a part of COLABS initially due to budget reasons, but she chose to stay even when she expanded her team because of the environment COLABS provides. Bushra states that when she was new in the tech-verse, our people helped build up her network and give a sense of community. Bushra stated that "the COLABS team helped her at every step of her business, coming up with ideas to complex problems."?

In Essence,

COLABS provides our community with more than just a place to work, we give them a place to grow.?