Situation worsening for CoWorking Spaces – Startups Go Missing

Due to the ongoing COVID-19 pandemic, A nationwide lockdown is imposed everywhere. Consequently, The startups have gone missing from the Coworking Spaces in India. The Quarantine has ravaged not only the startups but also halted the daily operations of Coworking Spaces in the country.

The situation of Coworking spaces owners is worsening every day. Its been a month since the country is quarantined. Owners of these coworking spaces are not receiving any support from the government.

The Coworking Spaces owners are not able to pay their fixed costs like electricity charges, workers cost, and many more. The renewal of contracts with the customers is not possible right now, which has caused an enormous loss for the owners.


Tough Times for the owners of Coworking Spaces

After the WeWork debacle of last year, people assumed that things will now be smooth for the market. But not so soon, COVID-19 was introduced. The Lockdown has not managed to change things forever.

Problems faced by Coworking Spaces

  • Retaining employees
  • Time to time salary pay
  • Renewal of contracts with clients
  • Unable to pay extra costs/bills
  • No revenue has made basic safety and hygiene, a big headache.
  • Low occupancy due to layoffs.

There might be a short term impact, but in the long run, things will turn back healthy. Many startups have even failed to pay their leftover dues while the others are not indulging in new possessions due to cash crunch. The things have gone messy with the Coworking spaces in India.


Is a Revival Possible?

As of now, owners have no option left. They are hoping that the government will help them in such a case with a bailout package. Some of them suggest that the government must provide a full-time rental for the Lockdown along with an additional 30 days to help the industry revive. Some other suggestions include early refunds of TDS and GST. Easies loan facility after Lockdown will also help the sector breathe. The government can also provide a moratorium on electricity bills and much more.

+ posts

Alongside her graduation, she is pursuing her passion for content writing. She is young, raw, and continuously thriving for the best. Her hobbies include debates and travelling. Despite these nerdy things, she also likes to netflix and chill.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Devanshi Singh
Devanshi Singh
Alongside her graduation, she is pursuing her passion for content writing. She is young, raw, and continuously thriving for the best. Her hobbies include debates and travelling. Despite these nerdy things, she also likes to netflix and chill.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

From post-workout beer to cars as a new personal space, these trends offer businesses a wide range of capitalization opportunities to explore.

Emerging Trends: Performance Beer, Digital Decor, and Cars, a New Personal Space

Post-workout Beer As per Keywords Everywhere, thousands of people are searching for 'drink beer post workout' monthly. It has fermented a new class of post-workout...
With easy internet access and high smartphone penetrations, there has been a shift in rural customers' aspirations opening opportunities for marketers.

Rural Marketing in the Post-COVID Era: A Lucrative Space

There has been a gradual evolution in rural marketing for the past few decades. Since most of the Indian population resides in rural areas,...

Challenges in Indian Startup Ecosystem

The Land Accelerator South Asia 2021 The Land Accelerator is a four-month curated program focused on training and supporting entrepreneurs working to restore land, forests,...
The idle minds and empty hands are using more devices, apps, and postures in the lockdown. We are here for a 30 billion USD industry booming around that.

Sextech: A Booming Billionaire Dollar Industry

Sex has always been a shady space in India. For a culture that takes price in Mind Control, Yoga, and worshiping saints, sex has...
Midea is facing the same fate as many Chinese corporations, asking for funding, going the old-fashioned way, through Kickstarter like Indiegogo.

Midea looks forward towards better development through crowdfunding, what could this mean for the...

Midea is a multinational technology company specializing in HVAC systems, consumer electronics, robotics, and industrial automation, and the digital market. (1) Midea provides a...
Amazon won the fight against labor organizing at its Bessemer, Alabama, warehouse on Friday, with employees opposing the Retail, Wholesale, and Department Store Union 2-to-1.

Will Amazon continue to live the bad light amongst its workers?

The COVID-19 pandemic has wreaked havoc on cultures and economies all over the globe. However,, Inc. has increased, cementing its status as the...
There has also been a boon for retail investors seeking profit and reliable trading platforms. Here are the top Robinhood alternatives in India.

Top Robinhood Alternatives in India

India's new trader breed had light-up Dalal Street in 2020. It was the year when many people across the globe were forced to stay...

Trending: Crypto College Loans, Viridian Vibes, and Bananatex Going Bananas

Students Going Crypto A group of students and advisers from several universities collaborated to built Student Coin in 2018 (1). It is a blockchain framework designed to...