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Unboxing sharing economy

We've all seen business such as GrabCar, Uber, AirBnB, OBike and etc. Everyone seem to be loving it, both consumer and provider! Here comes the question, WHY?

The mentioned companies are some of the great examples of the sharing economy. So, what is a sharing economy?

Sharing Economy

The sharing economy refers to the sharing of owner's asset, to others who need the said asset because they have yet to acquire them or they find it more feasible to rent than to purchase it themselves. In essence, it is the utilization of the abundance in the society. At the current stage of our world economy, there are a lot of ownership, but also a lot of "extras" or "leftovers".

Transportation Sharing

For example, a white-collar car owner that uses his vehicle to go to work from 9am to 5pm. and after work will return home and rest. So in this example, the "extras" would be the time where the vehicle is not being utilized, from 9am to 5pm (8 hours) and the time spent at home while the vehicle being in the garage (10+ hours). Therefore for the monthly installment paid, the vehicle is not being fully utilized, creating the abundance to the economy as a whole.

The sharing economy is the solution for the above scenario. Through the platforms such as AirBnB, GrabCar or Uber, owner gets to fully utilize their assets and achieve greater output (payment), and at the same time the passenger would get the benefits (destination).

Co-working Spaces

Just like AirBnB and business towers, co-working space (a shared serviced work space) allows people who needs an office space, but are yet able to have an office of their own, to utilize the equipment, location and facilities provided by co-working space, without having to pay for the said benefits by themselves.

Quarters Coworking Space are equipped with all the equipment a corporate office should have, and just by paying for the monthly rental, tenants would be able to enjoy all the facilities provided. Therefore it is a hassle-free way to start and operate a business office. What's more, tenants only have to pay for what they use, hence no "extras" would be created and left underutilized. This is why a co-working space would be the perfect place for new companies and freelancers to start their venture.

All businesses starts small, and with that in the consideration, Quarters Coworking Space offers flexible packages that would suits your business needs, assisting in eliminating what your company doesn't need, to cut down your monthly overhead cost.

Be sure to drop Quarters Coworking Space a message to know more if you are interested in starting a business!

Below are some links about the co-working concept if you wish to read more:

By William Frazier, Medium

By Spreitzer G., Bacevice P., & Garrett L., Harvard Business Review

By Small Business BC

By Susan Ward, The Balance Small Business

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