Some companies are looking to reevaluate their location strategies by opting for multiple spaces within one city or expanding into Tier 2 and 3 cities after a potential coronavirus lockdown.
The need for backup space is being explored as many states are imposing restrictions on businesses, while companies already considered plans to work from locations that were not under lockdown. This could mean good news for coworking operators.
“Companies will enhance their Emergency Response Teams for future situations. Companies will have to create diversity in geographies and supply chain. Companies will definitely need to be better equipped and organised,” said Pradeep Lala, MD and CEO, Embassy Services Pvt Ltd.
Now that lockdowns in major cities is inevitable, many coworking spaces expect to see a growth in demand in Tier 2 and 3 cities.
Anticipating this demand, coworking operator Incuspaze has plans to expand into smaller cities.