Workspace body appeals for bailout

NOIDA: The Indian Workspace Association (IWSA), a recently formed group of co-working space operators, have written to the government seeking financial support, waivers on fixed expenses like electricity bills and discounts on rents to deal with the challenges of the lockdown.
IWA said strategy of firms is likely to see three key changes — wider acceptance of remote working, localisation of workforce and spending on flexible space options.
Ishan Singh, founder of Noida based co-working space Revstart, said, “The government can facilitate credit to firms and expedite TDS refunds.”
Other demands include waiver of rentals and electricity charges. “With offices shut, it becomes an additional burden on firms even though no electricity is being used,” Vikas Lakhani, InstaOffice co-founder and IWA member, said.
Operators are looking at ways to stay competitive. “While many firms may want to secure a space for their staff and cut down expenses, some startups may not continue their subscriptions because of market realities. The industry will have to reinvent itself,” Yatin Thakur, Coworkin founder and IWA member, said.