Blog

Why co-working spaces should be preferred by UAE entrepreneurs?

Why co-working spaces should be preferred by UAE entrepreneurs?

The growth of entrepreneurship in the UAE and in the wider area adds significantly to the growth of the business environment, with the support of the government for entrepreneurs in particular. This allows for the development of many cost-effective solutions to stay consistent with the success of the company at ease of development.

That is also why trends are constantly shifting as corporate strategies and consumers want to change rapidly. A profitable business knows how to resolve problems and develop solutions for the growth of the company. Use of co-working spaces is one of the most wanted solutions for today's companies. This proves an effective solution with the growing community of freelancers in Dubai and for those looking for office space for lease in Dubai.

Profiting from greater adaptability

Leases try to contain several years and a commitment to investments that can last for a decade or longer is the ownership of a building. On the other hand, shared office space can be reduced to a monthly, daily or hourly rate. This allows enterprises not to be subject to a long-term agreement by choice of flexible contracts. Flexibility is a must for companies that rely on agility or work in rapidly moving sectors.

The UAE offers attractive possibilities. For instance, the licence issued by the Dubai Mainland economic Department allows you to set up a Dubai Mainland licence while functioning a co-operation service in downtown Dubai. This enables you, stay linked to Dubai's dynamic co-working group, to conduct your business across the United Arab States.

Increases productivity

Especially when you don't have a specific working environment in your home, you can easily lose focus. Besides having a place to focus you can also increase your productivity by interacting with other innovators. You can boost efficiency and drive to achieve success by exchanging opinions and suggestions with passionate professionals.

Adjusting to economic reforms

Although the UAE is usually regarded among the most diversified economies in the Middle East, oil still accounts for a significant share of their export income. And since 2014, prices have dropped almost 70 per cent. You might say that the country is in some transitionary period. In the long term, in order to reduce its oil dependence, the Government wants to promote advancement in other fields. Great for the businessmen who want to guide this movement. And, despite all price fluctuations, business investment would seem to be stable. Over 60 % of respondents are likely to make huge investments in the capital for the next 12 months as per the UAE Business Barometer CEO survey by the Oxford Business Group. It really was a comparable result to the survey last year.

Become part of an inspiring group

One of the greatest advantages of a co-working environment is that experts hold the same views as you. It frequently inspires people to hear storylines that were in the same situations as you. One can share their thoughts, opinions, and experiences that can produce cohesiveness.

Helps in developing your networks

Dozens of other people usually work in a shared office space on the same location and the populace of a co-working area will likely shift every few months. A co-working location, therefore, makes it the ideal spot to bring in new people in the professional world. In 2017, research published in the Harvard Business Review endorsed this fact: 82 per cent said that co-working has increased their business networks and 64 per cent said that their co-working networks are a significant source of work and business references.

Read More Blogs