Malaysia’s ever-popular Kuala Lumpur is a haven for finance, insurance, and real estate industries. However, in the midst of these major industries, freelancers from a range of professions are setting out their shingles in hopes of becoming the next best company. In fact, because it is relatively inexpensive to charter flights in and out of the city, many Malaysians and expats find it easy to move in and out of the city.
Another benefit to owning a business in this climate relates to the fact that the numerous coworking spaces in Kuala Lumpur make it possible for SMEs and start-ups to totally avoid the excessively high rents typically of most office space in the city. Coworking in KL offers professionals an amalgam of spaces that can fit out your office and provide your business with the necessary amenities. More significantly, these spaces can be the springboard to greater opportunities in the Kuala Lumpur community.
Continue reading below to learn why choosing a coworking space in Kuala Lumpur is a sensible decision and how it can benefit your business.
Learn About The KL Community
The city’s multi-cultural and multi-ethnic demographic is one whose population speaks English, in addition to other languages. This fluency makes it attractive to foreign and native business interests from around the world. More importantly, many of those living in the city are either self-employed or run their own business. With many of these businesses being startups, coworking is such a part of the city’s office landscape.
Choose A Space With A Sense Of Community
The mission of the coworking space is to promote collaboration instead of competition, and one of the ways many coworking spaces have managed to do this is to establish a sense of community. Some considerations that professionals should think about include making sure the space provides businesses with the opportunity to engage in networking activities. Networking activities can help you tap into a well of information from resources in the coworking community, can help you meet possible mentors, and are the basis of collaboration.
Collaboration can be the jumping off point for your business for a few reasons. When working with others as a team, information and resources are shared giving you more insight into strategies that help boosts your business. Another major reason is that through these types of partnerships your business’s profile is raised not only in the coworking community but in the greater KL community as well.
Make Sure The Space Has Multiple Uses
One of the best parts of being in a coworking space is that it can be used in a few ways. Of course, the first way is to be a place to work away from distractions. The next way is to make valuable connections in the office space. In fact, many coworking spaces are organised to prime the pump of conversation in the natural work setting. However, your coworking space should offer other, more formal networking opportunities as well. Finally, the space should also be a flexible one that allows you to travel, expand or even relocate as needed.
Finding a space that has all three functions might be difficult, especially with the rise of niche coworking spaces. Nevertheless, the leases tend to be less protracted than your standard office lease, and with larger leasing companies, you might be able to actually use offices in other locations. Ultimately, your lease will give you the advantage of being able to maximise the space for the benefit of your business.
Coworking In Kuala Lumpur
Like many places in the Asia market, investors and entrepreneurs, alike, find it attractive for the numerous opportunities to make money. However, in a city with skyrocketing rents, smaller businesses can be squeezed out of premium office space. The coworking space, alternatively, can fit out your office while allowing you to use the space in multiple ways.