Demand for Co-Working and Shared Offices in Toronto Continue to Grow.pptx

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Demand for Co-Working and Shared Offices in
Toronto Continue to Grow

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2
Some people believed co-working and shared office
spaces were just a fad that started around four
years ago and would quickly fade away.

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3
These same people are surprised that they are
still around and are among one of the fastest
growing commercial real estate segments.

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4
The reason shared office spaces are successful is
because they began around the same time as many
of the new tech startups and collaborative
think-tanks.

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5
Another factor behind the growth in shared work
environments is due to number of Millennials
entering the workforce, compared to the number of
Baby Boomers, who are retiring.

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Seven years ago, Baby Boomers were the
predominant worker, but this is slowing starting
to change. Within the next three years,

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Millennials will simply outnumber Baby Boomers,
and within the next eight years make up
approximately 75 of the entire workforce.

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8
When it comes to Millennials, since they grew up
with technology and have easily adapted to mobile
technologies, their idea of work environments is
completely different from Baby Boomers.

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9
Millennials are perfectly content at working in
an open, shared area alongside other individuals.

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They would rather work in this type of
environment than behind closed office doors or
semi-private cubicles.

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Part of the reason they enjoy the open work
environment is it gives them the opportunity to
co-mingle with other people from other types of
businesses and industries,

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often opening up new opportunities for
collaborative projects. When privacy is desired,
most shared offices do provide access to private
rooms of various sizes.

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Another reason Millennials are causing a surge in
shared office rentals is they like the
flexibility it provides. While assigned work
areas are offered and available,

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they do not want to be tied to a specific
workstation or desk, and actually like being able
to choose from whatever space is currently
available.

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15
Aside from Millennials, another factor increasing
growth in shared office spaces are changes at
major corporations.

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Many bigger firms are starting to explore
different types of working environments for
remote employees. Instead of having employees
work from a home-office,

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corporations are discovering it is better to have
smaller groups of employees work in a shared
office environment because this increases
productivity and workplace collaboration.

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Furthermore, co-working spaces are a more
cost-effective option for bigger companies to
expand into new markets, without the risks of
long-term rentals or leases.

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As such, it allows larger firms the opportunity
to set up a local branch office much more
quickly, yet without all the added costs of
office equipment, furniture, and so on.

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20
To learn more about shared office rentals,
meeting and conference rooms, event hosting, and
virtual office solutions for your business,
please feel free to contact iQ Office Suites at
416.238.1111 today! Source-
https//iqoffice.ca/shared-offices-toronto/

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