On February 21, several industry leaders, workspace operators and representatives from councils across London gathered together at The Foundry, in Oval, to witness the launch of a new report.
Entitled “Workspace that Works” and carried out by Future of London (an independent not-for-profit urban policy network focused on the challenges facing regeneration, housing, infrastructure and economic development practitioners in the capital), the report shared insight and guidance on the evolving relationship between small-business, workspaces and regeneration.
According to the paper, small and medium enterprises (SMEs), can help support economic development, community engagement and physical regeneration, a perception shared by Cowork Hub since day one of it’s operation. We are all about locality after all.
The report points out that small and micro businesses with fewer than 50 employees make up 99% of all London businesses and account for 41% of employment, for a huge collective impact. SMEs provide sustainable employment, offer more community links, are a natural fit for mixed-use development, enliven neighbourhoods and offset budget cuts with business rates.
The report goes on to highlight the benefits linked to workspaces, such as Cowork Hub. Besides providing the conditions (affordable office space, flexibility, affordability, networking) for businesses to get on their feet and grow, they argue that they can offer training, business support, opportunities for learning and sharing, test ideas and bring cultural or leisure activity to the area.
Among the many, many issues highlighted by the report, affordability was a major force. “For workspace as with housing, affordability is a major concern and local authorities and business leaders alike are keen to see affordable space retained or re-provided”.
Cowork Hub is proud to have been working on this front from early on: one of the cheapest coworking spaces in West London, we take the term very seriously: we go beyond offering affordable membership options: our members enjoy free usage of meeting rooms and the gym. Also, they do not pay to attend our networking events.
“We provide affordable and quality office space on flexible terms, making life easier for business owners. We offer much more than just deskspace and facilities. We enable valuable connections as well as enduring and mutually beneficial relationships between our members. Cowork Hub is proud to gather all sorts of industries, businesses and professional backgrounds together in one place and are are honoured to have been featured in this important report” – Alex Molokwu – Cowork Hub’s founder.
The report aimed to stress the opportunities and challenges faced by smaller coworking spaces in London and it turns out, despite the fact that the concept is on the rise, is not always a bed of roses.
“London’s flexible workspace sector is highly resilient, but permitted development, rapid loss of industrial land and rising costs pose serious and immediate threat.”
To read full report, click here.
From the newsroom