Why Increased Productivity Doesn’t Mean Increased Spending

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For many business people in the Philippines, launching your start-up can be quite an effort. In addition to having the know-how to gain traction in a competitive economy, starting a business requires a significant amount of capital. While there are a few ventures that would allow you to operate on a very thin budget, most entrepreneurs have forked out quite a bit of money after spending for all the necessities of starting a business.

Licensing and purchasing materials and services can cost a business close to six million Philippine pesos. Add in the cost to lease space in some of the more premium locations, and your operating budget increases significantly. In this area, however, businesses can potentially save thousands of pesos yearly by adopting the coworking format.

Keep reading to learn more about how coworking can save your business thousands of pesos a year and help you move your business in the right direction.

How It Works

 The coworking space drastically reduces overhead by simply allowing professionals to share workspace. Typically, renters lease the use of desk space that comes along with standard office equipment and amenities. Click on Servcorp’s Philippines website at http://www.servcorp.com.ph/en/coworking/ to learn more about how these plans actually work.

The coworking space works for your business because it pretty much streamlines a lot of the costs associated with managing office space. As opposed to paying separate bills for utilities, cable and internet, businesses pay one bill at the end of the month for leasing the space. However, there are other reasons why this office format can help businesses in the Philippines save money.

coworking Spaces In The Philippines

 In the Philippines, the coworking space can save your business tons of money in just being a liaison with the greater business community. Being able to tap into resources that help you navigate the licensing system inexpensively is just one reason why businesses unsure of how to obtain proper licensing would really benefit from this setup. The coworking space in the Philippines can also be a resource for businesses in terms of gaining access to goods and materials more inexpensively. In a nutshell, the coworking space in many ways becomes a conduit for the terrain, which can be tricky if not familiar with local laws and ordinances.

The Cost Advantage Of Shared Space

 While there are many advantages to adopting shared space, one of the main benefits is engaging other professionals through informal and formal networking opportunities. These networking opportunities, while serving as a way to build a network, translate into income. Whether chatting at your hot desk or taking a break from work, engaging professionals from other communities is one way to get referrals, meet mentors, and create opportunities for other ventures.

Naturally, one would assume time away from work is time that you are not being productive. However, the opposite is true. In the course of these discussions, you are building a network comprised of people from many different industries, a network that you could potentially use when needed.

One of the major ways this networking translates into income is through the collaboration, which is usually the culmination of networking. When collaborating with other team members, your business gains the benefit of learning from other professionals from diverse industries but also from raising your business’s profile. More significantly, your business has spent little-to-nothing in terms of being productive in the workspace.

Cost-Saving Functionality

 One of the main reasons coworking spaces make it possible for businesses to remain productive while doing so inexpensively is because of its versatile uses. In the coworking space, entrepreneurs can perform the basic functions of their business and they can also use the space to network. For the amount of money spent monthly, businesses in the Philippines can maximise their productivity without breaking their budget by adopting the coworking model.