The pandemic has hit just about every company tough irrespective of its size. During the pandemic we discovered to cope and, in the post-pandemic world, the need to have is to study to thrive. Companies emerging from the crisis are realizing that workforces call for newer capabilities to face the future.
Numerous corporates who have been arranging for lengthy-term company targets, expansion and their future workplace space needs with leased spaces have having said that with the resurgence of Covid-19 come to a standstill, but once more. Maybe the time is to have a quick-term vision and switch to Business Centres and Co-working Spaces which are ideal suited due to their flexibility to upscale or downscale, simpler lease terms, and prepared availability.
According to a report published by one of the IPCs, although the company sentiments and marketplace recovery had been impacted by the second wave of the pandemic in the course of the latter aspect of Q1 2021, the present quarter continues to sustain the recovery momentum in workplace activity.
The crucial highlights of the report are:
- 12.2 msf gross leasing volume in Q1 2021, 5.3% greater q-o-q (down by 25.4% y-o-y)
- Flex workspaces with only a 6% share in leasing, continued to stay muted in the course of the quarter.
- New completions in Q1 2021 have been recorded at 10.9 msf Hyderabad led with a 38% share. However, provide recorded a 14.% decline on a quarterly basis due to the resurgence of COVID-19 in the course of the latter aspect of the quarter.
- Net absorption in Q1 2021 stood at 3.6 msf, decrease by 42.5% on a quarterly basis.
A study has revealed that firms could save millions annually by taking up more effective procedures of managing workspaces. This is why organisations have began taking measures to reduce down excess workplace space considering that the pandemic hit us. In the present lockdown and work-from-home situations, several organisations are losing funds due to below-utilised workplace spaces. This is providing a big push for the need to have of workplaces evolving to the next level and this has resulted in Business Centres and Co-working Spaces emerging as the initially solution for firms across unique sectors and territories.
Business Centres and Co-working players have constantly had a meticulous method and reassessed that they need to have to create workplace spaces that are more resilient and offer you the flexibility to upsize and downsize with lots of service offerings not limiting to technological advancements and shorter lease terms to assist the tenant be more productive and boost his sustenance.
Keeping in thoughts the present marketplace circumstances which have been anticipated last year, one of the most reputed and biggest Indian Business Centre has also began giving unmatched Business Support Services to its Fortune 500, mid-sized and startup consumers guaranteeing that they stay focussed on their core companies although they take care of all their company requirements.
The services are spread across all the standard and most crucial company functions like – Taxation & GST Services, Legal Compliances & Company Registration, Concierge Services, IT Support, HR Services, Marketing Services and Admin Services. Besides all the other Covid-19 precautions and protocols, they also made all their Business Centres across India “Zero-Touch” with an endeavour to provide higher levels of service requirements for their consumers although maintaining in thoughts their well-being and security on major priority.
(By Vineet Taing, President, Vatika Business Centre)