Demand for coworking spaces has grown tremendously over the past few years and is expected to continue doing so in 2020 and beyond. Moving forward, India’s government should provide more assistance to startups in order to provide tax benefits to Angels for investing in them to ensure the sector’s growth.
Additionally, there is a need to reduce the goods and services tax (GST) for startups as it impacts their budget. The government has yet to allow coworking firms to claim input credits on work contract and constructions services, but doing so could have an impact on increased outflow of cash coworking firms experience.
To push more startups towards coworking spaces, increasing bank funding and reducing income tax for employees of startups would help ensure that the industry continues to flourish.
Overall, government assistance could push the coworking sector to new heights and encourage more operators to open up business.
