New co-working spaces launch in Solihull & Gloucester as trend soars

Bizspace

BizSpace, one of the UK’s largest provider of flexible workspace, is set to launch a co-working offer at its business centres in Solihull and Gloucester next month.

Following the popularity of co-working at its sites in Basingstoke and, more recently, Glasgow – which was half full within the first two weeks of its launch – BizSpace is creating similar zones at Zenith House, Solihull, and Corinium House, Gloucester.

The global sharing economy continues to register substantial growth and there are thousands of sharing economy platforms operating in multiple sectors around the world including co-working space. Access over Ownership has become a global trend as digital and mobile technologies are making it easier to access goods and services on demand.

Catering to the UK’s growing army of freelancers, entrepreneurs and remote workers, the co-working spaces will provide a base for individuals and small teams to work in a collaborative and vibrant environment, with flexible, good-value terms.

Emma Long, commercial director of BizSpace, said: “There’s a huge buzz around the concept of co-working but too often it’s seen as something that’s only open to people working in major cities. More and more people up and down the country are choosing to work for themselves, enjoying the freedom and flexibility of being their own boss but still wanting the buzz and feeling of community they get from a workplace. We see huge potential for co-working spaces in locations outside of city centres, where our customers can walk to work and enjoy a high-quality, design-focused environment filled with like-minded people.”

According to the ONS, the number of self-employed workers increased from 3.3 million in 2001 to 4.8 million in 2017, with self-employed people now accounting for around 15% of the working population. In particular, the number of self-employed workers aged 16 to 24 has nearly doubled in the last 17 years.

Recent research from Ropes & Gray found that 73% of senior executives in the real estate industry believe an economic downturn would actually benefit the co-working sector, as more people in a contracting economy would choose to become self-employed.

Global co-working space market exhibited strong double-digit value growth as a startup with less than 50 employees can save up to 25-30% in rental costs and the number of these spaces has been increasing worldwide. As of 2019, about 27% of co-working spaces are located in the US, particularly in New York and San Francisco. Co-working has gained popularity in Europe as well, especially, after the first European co-working conference, held in Belgium in 2010. In Asia, it has been spreading in China, Japan, Singapore, and India.