It is a well known secret that COVID-19 has an intense and negative impact upon almost all the sectors of the society. From large corporate to start-ups, and small medium enterprises to new budding entrepreneurs all have face the heat. Many companies do not have funds to survive this pandemic, and they are looking at shedding their costs wherever possible. The one that tops their list of cost shedding is – workingspace rents. Almost everyone is either working from home or remotely. Hence this is seen as an opportunity by businesses to save their rents lower down the loss. Traditionally built workspaces cost higher and companies are asked to pay a part of rent if not the entire cost. This is where co-working has came into picture. Co-working spaces can provide them with better and added services at a lesser unreasonable cost than traditional office spaces.
The new core component of the economic development in cities and countries is the fostering entrepreneurship upcoming with new and exciting plans. The cardinal metaphor for stimulating entrepreneurship as an economic development blueprint is the “entrepreneurship ecosystem”. It should not astonish that however as any groundbreaking idea spreads, so does the misapprehension and mythos. Some true statements will serve as a reality check on fostering entrepreneurship ecosystem, and on the connection between entrepreneurship and development more generally.
This COVID-19 pandemic has put to test of their business models, that how resourcefulness of teams, and responsible cash management of companies, across coworking industries in India. –PREETESH ANAND- Founder Oplus Cowork
In this situation technology can streamline process and safety of our member and team, as a whole, the management of coworking is very focused on mobile and cloud-based technology. Technology was definitely a factor that was in place right from the beginning. It was not so much about streamlining operations as just something that we built in right from the start.
According to the fostering entrepreneurs the main three challenges faced everywhere are access to talent, excessive bureaucracy, and scant early stage capitals.
True, as I have asserted this is such a omnipresent phenomenon that it probably reflects something specific about the inclusive process of entrepreneurship, rather than a deficiency of the ecosystem. The feeling that risk capital is difficult to raise and in short supply is universally generated by the process of entrepreneurship.
The initial objective of fostering an entrepreneurship ecosystem is not always job creation.
True. This is because no one retains or constitutes an entrepreneurship ecosystem, there can be no one objective that motivates all of the actors. For the corporations, innovation, talent retention, and supply change development may be the benefits. For an entrepreneurship ecosystem to be self-sustaining many stakeholders must benefit.