Kuala Lumpur is becoming attractive to young professionals, start-ups and other SMEs. In addition, the country’s economic climate is one where those working in the area would benefit from the interest and investment from surrounding countries. Coworking in Malaysia also stands to that benefit from this boon.
However, before investment, business and prosperity enter the scene, businesses opening up an office in the city should consider the coworking space as a way to find office space. As with all office space leases, knowing how to best utilise your coworking space in KL to maximise productivity is important.
Let’s take a closer look at what you should know before joining a coworking space in Kuala Lumpur.
The first thing, and most obvious, consideration relates to the costs of renting the space. First of all, the coworking space typically is one of the most inexpensive ways to rent because professionals are paying for space on an as-needed basis. Furthermore, the professional does not have to worry about furnishing the space, providing office equipment, or paying for staff, which drastically reduces costs.
Like in most cities, the closer you get to the CBD the higher the rents are going to be. This is also the case with coworking spaces that are closer to Kuala Lumpur’s central city. Even with the higher price tag, the office is a much more cost-effective alternative to traditional leasing.
Location is very important when searching for office space, and the general rule is the closer to the business district, the more prestigious the space and this is true in Kuala Lumpur too. Coworking businesses benefit from being able to access low-cost office space located in prestigious real estate areas. In Kuala Lumpur, many of the coworking spaces are found outside the central city, so rents are lower, but those looking for space in the downtown area can go with corporate leasing companies that occupy skyscrapers like Ilham Tower.
Access To Resources
Those looking to join a space should also know that because of the way in which these offices are set up you can find yourself working with professionals that come from diverse industries. For your business, this means you have the ability to draw from a wealth of resources in your immediate community. Many of these resources come in the form of information furnished by the space, but more of it from the people who make up the space, some even being possible mentors.
Another important aspect of the coworking community is that it is more than renting space. When joining a space, you are also joining a community culture that exists to promote business and industry, and in the course of the day, you will find people socialising in and around the office. If you are someone using the space primarily for workspace, then be aware that some of these outfits get noisy.
However, the benefit to your business is that it positions your business to take advantage of the many networking and collaborating opportunities. Both of these activities work in conjunction to help you raise your business’s profile. For the most part, your coworking workspace is also a place for you to build relationships.
Flexibility And Versatility
Ultimately, your coworking space has a few functions. First and foremost, it is a place for you to get more work done. Then, its other immediate function relates to networking and forming partnerships. Finally, the coworking space functions as a place where you can branch out and expand into other communities in a cost-effective way.
Preparing For Your Kuala Lumpur Space
While there are probably other things to keep in mind when leasing space in the city, the above are just a few of the pressing considerations. Coworking, furthermore, is work but it is also fun and engaging. Coworking presents you with the opportunity to access a community that can also be leveraged for collaboration with other team members to heighten your business’s visibility.