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Editor’s note: This article is from Interface News, 36% released with permission.Reporter | Edited by Zhou Yixue | Song Jianan Photo Credit: Tuworm New Crown Pneumonia Outbreak continues.In addition to the service industries such as catering and wine travel, which were affected during the epidemic, shared spaces mainly providing office workstations are also suffering.Although some companies have chosen to resume work, in order to prevent the spread of the epidemic, resumption companies are mostly based on online remote work, and full resumption of work is still to be seen.Offices, shopping malls and other places where people are crowded on weekdays are now monk-loose.Feng Yintao, CEO of Miyu Space, a co-working office, told Interface News that 70 to 80 percent of companies renting Miyu space have begun to resume work remotely online, but currently only less than 5% of them are on-site.Miyu Space is a company headquartered in Shanghai and currently has tens of thousands of workstations in Beijing and Shanghai.Most of the companies renting office space in Miyu are SMEs in the technology, cultural and creative industries.For places that are easily crowded, such as shared offices, the current top priority is still epidemic prevention, because once suspected cases are found in the area, the site will be closed directly.But the challenge is that as the epidemic continues, shortages of anti-epidemic materials such as masks and disinfectants are increasing.Taking disinfectant as an example, the daily consumption of Mi Yu space is about 10 liters. It is the most troublesome thing for Feng Yintao to buy a mask and disinfectant.”The government has stipulated various requirements for epidemic prevention, and we are willing to spend money to purchase these materials. But the problem is that we cannot find channels to buy them, so these requirements are difficult to implement.” Feng Yintao said, “Now we even have enough staff.It is difficult to guarantee the amount of masks, let alone a larger amount of disinfectant. “In addition to the shortage of epidemic prevention materials, cash flow at the operating level of the company has also been affected.Feng Yintao told Interface News that the shared office industry has two new lease peaks each year, two months after the Spring Festival and the third quarter, and 70% to 80% of new lease transactions in the year are completed in these two peak seasons.Due to the impact of the epidemic, new lease transactions in the spring of this year are completely gone, which will lose part of the income.In addition, what worries him is the issue of corporate lease renewal rates after the epidemic.On February 5, CEIBS Business Review released a survey report. This report conducted a questionnaire survey of 995 SMEs affected by the epidemic and found that 85% of them can maintain a cash balance of up to 3 months.Most of the companies renting shared workstations are small and medium-sized enterprises. “We foresee that there will definitely be a lot of cancellations in advance. Even small and micro enterprises that can survive, the level of rent that they can afford will definitely fall, so our expectations for revenueThe decline is huge. “He said.Mao Daqing, Chairman of Youke Factory, also recently said that some of the companies settled in Youke Factory will be unsustainable due to the impact of the epidemic, so Youke Factory will lose some customers.However, he also revealed that other corporate services provided by Youke Factory, such as finance and taxation, and online marketing, also increased in the first quarter.For a shared office enterprise, its business model is to rent the space from the owner, refurbish it, and then “retail” the work place to the enterprise or individual.Therefore, the main source of revenue for the shared office industry is the membership fee for members to rent workstations, and the main cost is the cost of renting space from the owner.”Space is the most important means of production, and rent expenses will account for more than 60% of all expenses.” Feng Yintao said.A few days ago, in order to alleviate the pressure of the epidemic on SMEs, the Shanghai State-owned Assets Supervision and Administration Commission (SASAC) issued the “Implementation Rules on the Reduction and Exemption of SME House Rents by State-owned Enterprises in this Municipality” (hereinafter referred to as “Detailed Rules”).It stipulates that for small and medium-sized enterprises that meet the conditions, the municipal and district-owned state-owned enterprises (including the entrusted supervision enterprises and subordinate enterprises) that the real estate belongs to are exempted from the two months of February and March 2020.However, most of the space owners rented by Miyu Space are not city-owned or district-owned state-owned enterprises, but mostly private or central enterprises.Because it is impossible to predict how long the epidemic will last, these owners are still watching, which means that Miyu Space is not yet able to enjoy the above rental concessions.Feng Yintao told Interface News that he is now actively applying for rent-free. If the owner is willing to share this part of the cost during the epidemic, other expenses are adjustable labor costs.”Under normal circumstances, the company’s books can maintain six months of cash flow, but if the upstream owners still need to collect rent normally, we will be two or three months.” He said.Mao Daqing also said that in the direct-operated stores of Youke Workshop, the company is actively communicating with the landlord’s property, hoping that the property owner can understand the current difficulties and transform the loss-making direct-operated store into a win-win model to reduce the company’s operating losses..

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