In this blog we provide a view of the Czech market for shared office space. Where is coworking heading? What are future coworking trends likely to be? Answers are provided with the help of the BNP Paribas Real Estate survey.
Trend one: Specialisation
The authors of the study state in their introduction “We believe that the future of Czech coworking rests in the further specialisation of individual centres”. There will be new coworking centres specifically for the creative industry, and, for example, for designers and architects. There will also be coworking centres for IT and technology start-ups. We can also expect the introduction of art hubs combining offices with gallery and exhibition space.
Trend two: Professionalization
As with any activity and field, the expansion of the Czech coworking scene is naturally being accompanied by a trend towards greater professionalization. As international coworking networks and chains become increasingly active in the Czech Republic, part of the coworking space will change into something akin to “serviced offices”.
In the sector there will also likely be some fragmentation with some of the weaker operators falling by the wayside at a certain point. The remaining local and international operators will, on the other hand, strengthen. Nevertheless, we still believe there will be space for well thought through concepts. In addition, services will be offered in the hubs and coworking centres, such as accountancy, training and consultancy to individual members.
Trend three: events
Many coworking operators use events (seminars, conferences, company presentations, press conferences…) as a significant source of income. In our opinion this trend will strengthen. Together with this, other linked segments will grow, such as renting AV equipment, catering services and press services. Integration will continue further.
Trend four: digitisation
Coworking chains as well as individual operators are integrating their processes using intelligent applications to manage things such as reserving conference rooms, monitoring food consumption in the kitchenettes and rest areas, the consumption of utilities and the use of press services etc.
The applications are connected directly to accounting and invoicing systems. Many of the operators have a large virtual membership base and without such digital platforms the given operation would not be possible.
Conclusion: Take a look at the most important facts concerning the Czech coworking market here – download the survey. And don’t forget to come on Thursday 13th September for the TechoCon conference. Register here.