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The rise of business centers in Latin America

The flexibility and savings in establishment costs offered by business centers have fostered the boom of this industry in the region

During the last decade, business centers have established themselves as a very attractive alternative to the traditional office leasing scheme. It is one of the many terms coined to describe the innumerable ways in which companies have reformed their workplace, as a result of technological progress, mainly in mobile devices and cloud computing services, which allow staff to work from one place alternative to a fixed position in traditional corporate spaces. The "Coworking" is a modality that highlights the collaborative work, which takes place in spaces that have all the tools and comforts necessary to develop a project or start a business. This practice has shown a particular interest on the part of the new generations of professionals, since it generates new job opportunities, increases productivity, widens the network of contacts and allows to save on the costs related to infrastructure and the services required to operate in an office .

The trigger for this trend in the workplace is the need for greater flexibility, in which teams based on different projects can be established quickly, efficiently and profitably within the office environment and also allow them to function keep going. Another aspect that has stimulated the demand for this type of real estate facilities, is the existing delay in the processing of permits for the occupation and the construction of improvements in new offices, as well as the costs that these improvements imply in the budget of the users. In general, users of business centers do not need to make any initial investment, since they are equipped with everything a client might need. They have office furniture, communication equipment, Internet connectivity, printers, scanner, fax, among other services.

Among the advantages mentioned by the users of this type of facilities, the following can be highlighted:

  • Immediateness: By having all the necessary infrastructures, users can "Arrive and Start Working".
  • Saving fixed costs such as:
    • Staff at reception
    • cleaning
    • energy
    • infrastructure (cabling, fiber optic, among others)
    • equipment (furniture, computer equipment, telephones)
  • Complete contracting flexibility: Users of business centers can use their services without committing to a long rental period, being able to lease their services from one month to one year.

Based on the current trends of this real estate model in the region, it can be projected that, in the immediate future, working hours will be much more flexible and that most professionals will be able to work without having to move to the company's fixed facilities. The traditional office model will continue to change to much more relaxed spaces, away from the classic business environment creating more efficient and healthy alternatives for workers.