From its early introduction in the early 2000’s by San Francisco software engineers, co-working spaces has become very attractive to freelancers and start-ups. Fast forward to 2019, and WeWork, one of the market leaders, is now London and New York’s largest office occupier. While start-ups and freelancers may remain its core markets, there is an ever increasing interest from larger multinationals looking to establish small presences in new geographical regions, and seeking the same benefits as the freelancers – reducing the initial (very large) capital outlay or the length of a commitment. As time passes, the office-based businesses down the middle will follow the same trends. This is in part driven by constant technological advances and the ever changing demands of the incoming workforce. More businesses are following the lead of tech companies in an effort to provide their staff with a wider range of amenities in the office in an effort to reduce staff turnover and increase productivity. Businesses need less storage, big blocks of computers are replaced with docking stations for laptops, and improvements in remote working allows staff to work away from the office as easily as in.
Click here to learn more.
