Co-working is fast becoming a welcome reprieve to both employees and employers and seems to be the answer to entrepreneur’s prayers.

The entrepreneurial life sounds exciting. No restrictions on working hours, you're your own boss and you can work on all the crazy ideas you have without anyone telling you otherwise.

But, it's not as easy as it seems. Along with bringing your ideas to life, you also need to manage the nitty-gritty of daily operations. Having the right atmosphere to work out of is crucial to balancing the excitement and the responsibilities.

This is where a co-working space comes in. Let's take a closer look at 7 ways on how co-working facilitates entrepreneurial initiatives.

1. Saves Cost

Every decision before an entrepreneur is influenced by costs. The money available is fixed and every rupee spent on rent and other operational expenses is a rupee less to spend on business improvements.

Choosing a co-working office space for entrepreneurs over an independent office lowers the operational expenses and lets you put aside more money towards building your business.

To begin with, the rent is substantially lower – you're not renting out an entire unit, you're only paying for as many desks as you need. Secondly, this cost is inclusive of all other operational costs including furnishing the office, maintaining the appliances, Wi-Fi, HVAC maintenance, security, etc. Overall an entrepreneur can save between 18-25% in office operations cost just by moving to a co-working space.

2. Easy To Expand

Another advantage of working from shared office spaces for entrepreneurs is the flexibility it offers. When you're starting, you may have a team of just 3-4 people but by the end of the first three months, your team may have grown to 9-10. You can't shift offices every time your team expands. Co-working for entrepreneurs is the perfect solution. Since you're leasing out individual workstations, there is no limitation on space. No matter what the size of your team is, you'll always have enough space for everyone. You can expand or reduce the headcount based on your business needs.

3. Reduces Operational Headaches

When you get to be your own boss, you want to set up your dream office. But, just buying a fancy coffee machine isn't enough. Everything you buy for the office must be regularly maintained. Same applies for air conditioning equipment, RO system, electricity and fire safety equipment, washrooms etc.

However, when you move to a co-working space for entrepreneurs, all of these maintenance headaches are handled by the space providers. Thus, entrepreneurs can direct their time and energies to build their business rather than the day-to-day operations.

4. Business Networking Opportunities

Networking and collaboration are critical to an entrepreneur's success. Opening doors for such opportunities is one of the main benefits of co-working for entrepreneurs. Firstly, it's easy to meet people when there are fewer doors between you.

Everyone's working on the same floor so the person sitting just a few tables to your right may be just the person you need to help you out with a project. Secondly, co-working space providers also regularly organise after-work events and workshops. This is a great way to meet people and expand your network.

5. Provides A Vibrant Working Atmosphere

A co-working space attracts all kinds of people. Freelancers prefer working here as compared to cafes and a number of established businesses find co-working spaces the ideal way to de-centralise their offices. There are always new ideas bubbling. For entrepreneurs, this kind of community is a goldmine. It's the ideal atmosphere to brainstorm in, pitch ideas and troubleshoot issues. You will miss all this while working from your own office.

6. Attract & Retain Talent

It's easier for entrepreneurs to find an affordable co-working space in the heart of the city as compared to an affordable independent office. The latter is usually limited to the outskirts of the city or old buildings in dingy alleyways. A good location does a lot to help a growing business. It creates a good first impression and makes your office a safe place to be in. This is important not just for clients but also for attracting & retaining employees.

A prospective employee will be more willing to join a company if they would be working out of a co-working unit on the main road with better connectivity rather than having to work out of a small dingy office. What's more, many entrepreneurs find the talent they need to recruit not far from their desks – you never know when the person working across the table is looking for a new position.

7. Improves The Work-Life Balance

Every entrepreneur treats business as his/ her baby. In the case of working from home, this means there are no clear lines between their work and personal lives. It's not healthy and not sustainable.

On the other hand, choosing a co-working unit close to home i.e., Neighborhood co-working gives an entrepreneur a way to switch between work time and personal time without eating into either with a long commute. The same holds true for their employees. When people know that they have a finite amount of time to spend in the office, they tend to get more work done. The team is more productive, everyone's happier and the brand is viewed positively.

Given all the attractive co-working facilities entrepreneurs can benefit from, it's no surprise that there are more and more takers for this style of working.