With startup businesses are on the rise in Vietnam, it becomes an icon for other businesses to follow their steps to success. Whilst the number of start-up businesses has increased by 45% from 2016 to 2017, then came 2020, when the country recorded a US$400 million increase in startup funding (1). the industry is constantly growing, which leads to an expansion of greater benefits. More specifically, in one of the fastest-growing cities, Ho Chi Minh City, the population of 8 million individuals holds the facilities and accessibilities to ensure that start-up businesses have the services to succeed. Many of these businesses opt to work in a coworking space in Ho Chi Minh City because of the benefits it offers.
If you have a startup business but have not used a coworking space, you are missing out big time. Read on as this article will guide you on the benefits of starting up your business in Ho Chi Minh City in a coworking environment and the next steps that can be made.
What are the Benefits of A Coworking Space in Ho Chi Minh City, Vietnam?
Communication and networking
Starting up your business in a coworking space in Vietnam is one of the best ways to ensure there is maximum productivity to reach your set goals. The opportunities that can potentially arise when communicating with others in a coworking space can lead to excelling projects. The composed environment not only makes it easier to exchange communication but creates relationships with other businesses that are potentially in the same position.
According to a study carried out by Office Vibe, a co-working environment made 64% of entrepreneurs more productive. Start-up businesses have the potential to inspire each other to work productively, resulting in greater benefits in a shorter amount of time.
It makes sense that when starting up a business, you do not want to be tied down to long-term contracts due to potential future changes. Coworking spaces have no strict rules and the team can easily make decisions on the environment in which they want to work in.
In comparison to a traditional office where you are likely to be secured in a multi-year contract, the flexibility and inexpensive method of a co-working space can be the space you need to develop your business further. From hot desks to private offices, the choices ensure that the team has the opportunity to fit the requirements and standards to suit their needs.
Renting a private office in a city can be a pricey option, which is why co-working spaces may be the first step to guarantee saving money. Studies show that co-working spaces in comparison to traditional offices lead to companies saving up 25% of leasing costs and that does not include the additional costs within the office. With services such as maintenance, utilities, and staff amenities included within the price there is less hassle and services you do not have to worry about.
Coworking Space in 2020, What can You Expect?
Employee’s Wellbeing is the Focus
Rising demand for coworking spaces in Vietnam will be seen as more and more companies are taking their employee’s well-being seriously and are more likely to use flexible coworking spaces for work. This will hopefully result in improved productivity.
Synergistic and Consolidating Portfolios
Due to the rise of coworking space in Vietnam, we can see real estate investors want to enjoy a piece of the pie.
Therefore there’ll be coworking space mergers and acquisitions. New funding avenues for financial viability can be observed as well.
Diversity in Coworking Space Providers
Since it was not so long ago that coworking spaces started to show their existence in Vietnam, you can see more or less the same concept of coworking spaces.
As working in coworking spaces has grown more popular these days, a variety of coworking spaces in Vietnam will take place. The diversity in coworking space providers aligns with the ever-diversifying individual needs as well as specific needs of various industries.
High-tech, Sustainable and Green Working Environments
A high-tech, sustainable and green coworking space is not only beneficial for employees’ productivity and wellbeing; this initiative will also bring long-term sustainability and cost-saving for the employers while saving the planet.
A modern coworking space in 2020 will see the integration of solar energy, motion-sensor lightings, improved indoor air quality and the reduction of plastics and paper uses.
What can we do to help?
If you believe that working in this environment sounds suitable for you then we can make this happen. At Cekindo, our team can ensure you have the space and environment that best suits you.
By using our coworking space in Ho Chi Minh City, you are ensured to benefit from these requirements to position yourself effectively in the industry.
Let us commence the growth of your business. Get in touch with us by filling in the form below.