Flexible workspaces create new demand for office spaces not only globally, but also in China and Hong Kong
Work flexibility requirements of start-ups boost demand for shared spaces
Rising office costs and slowing business expansion in mainland China and Hong Kong have prompted a growing number of start-ups to prefer flexible office spaces rather than traditional offices.
Like many of his peers, Wen Hong, co-founder of Shenzhen-based drone maker Eulerspace, rented an office in Beijing when his firm started operations in April 2014. But the rising office costs in the Chinese capital and the constantly changing business strategy of the young company soon forced Wen to look at other alternatives like sharing workspaces with other firms.
Flexible workspaces are traditional office spaces that are shared by more than one company and the costs are divided among the tenants.
At present, Eulerspace operates from two flexible workspaces and one traditional office space. Its marketing and software development operations are carried out in the flexible workspaces in Beijing. At its headquarters in Shenzhen, most of the work was still conducted out of a traditional office, said Wen, adding that it also had a start-up venture that rented flexible workspaces to explore new business opportunities in Shenzhen.
“Since we do not have a big team in Beijing, we do not want to pay huge amounts as rent,” said Wen, adding that the company decided to opt for flexible workspaces.
