Are co-working spaces becoming the ultimate Singapore work setting?

Over 7 in 10 workers say it’s perfect for start-ups.

Despite the burgeoning popularity of co-working spaces, most of Singaporeans workers still believe that these spaces are usually not professional enough for client meetings.

According to a poll by workplace provider Regus, co-working spaces are seen by over 7 in 10 (74%) workers as the ideal place to meet and collaborate with other entrepreneurs, and over 7 in 10 (74%) also agree that these spaces are ideal for start-ups.

The poll further revealed that the two most popular reasons that workers opt for co-working spaces are the chance to meet like-minded workers from different firms (82%) and to network (80%).

Businesses displayed enthusiasm over co-working spaces as well, with nearly 8 in 10 (79%) businesses believe that co-working is cost-effective, especially in comparison to fixed-office leasing.

On the flip side, over 7 in 10 (76%) respondents are also in agreement that co-working spaces sometimes come up short in terms of professionalism for client meetings. Over 7 in 10 (75%) say there is risk to privacy, and almost 6 in 10 (59%) say that meeting room space is scarce.

“Co-working spaces located in the Singapore CBD are attractive for both cash-strapped start-ups, and more consolidated businesses as they are located near transportation nodes and are a cost-effective solution to workspace,” commented Regus Singapore’s country manager Paul MacAndrew.

“However, businesses must be aware that formal meeting space for important client meetings is a key requirement and that privacy needs to be protected,” he added.