Will big businesses adapt to coworking?

Will big businesses adapt to coworking?

According to the FT, big businesses are changing their office culture to save office space and money. Emma Jacobs from the FT described how larges companies are trying to replicate the startups culture. It seems if coworking and hot-desking is the future, big business want a slice of the pie. Not only do large firms and organisations want to mimic the buzz of Old Street or San Francisco tech environment, companies want the flexibility that coworking and hot-desking offers. One of the key advantages of coworking that employees mention, is that the vibe is cool and exciting working alongside energetic startups and techies. There is an abundance of coworking offices in major cities like Hong Kong, New York, London and Berlin who use the exciting profile of coworking to attract big businesses. WeWork are in over 30 cities and they deliberately seek out large businesses by using they coworking image as an exciting and lively place to work from.

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Instead of operating out of co-work space providers like WeWork, Workspace, Avanta, BEOffices or Co-Work, some large companies and recreating the same models within their existing offices. Businesses like Capita offer hot-desking for their staff, YouTube offer people office space if they have 10,000 subscribers, Dixons Carphone Warehouse offers partners coworking space within their head office. Flexible working is here to stay. All the major tech companies like Google, Yahoo, Ebay and Facebook have been doing this for years. If you already have an office, it doesn’t make any sense relocating to a coworking space. However, bringing in a coworking space to your office not only brings the vibrant vibe of flexible working but also brings in the money. O2 provides office space for companies it has joint ventures with. Intermediary brokers like Goldman Sachs, Barclays, ICAP, HSBC, Deutsche Bank and JP Morgan offer customers (Hedge funds, venture capital firms and private equity) the opportunity to operate out of their offices.

In May 2016, Royal Bank of Scotland (RBS) and RocketSpace plan to open a coworking space in London in early 2017. RBS is teaming up with an established US coworking space provider who specialise in tech startups. Their new campus in Angel will accommodate 1,500 members. Like the San Francisco workspace, in London too, RocketSpace will provide space for teams of 1 to 100 people and will focus on tech startups that have raised funds. The London members will also be provided access to leading global corporations, including the company’s clients such as Tata Communications, Axel-Springer, Lufthansa Cargo and Schneider Electric. RocketSpace has housed some of the biggest Tech companies in the US like Uber, Blippar, SuperCell and Spotify.

City of London
City of London one of the leading centres of global finance. This view includes Tower 42, Gherkin,Willis Building, Stock Exchange Tower, Lloyd`s of London and Canary Wharf at the background.

Patrick Clark from Bloomberg details how corporate businesses have taken to coworking. He described how coworking providers are leading the way big business operates in terms of office space. WeWork can boast some of the biggest companies in the world as its tenants. Merck, KPMG, even the Guardian newspaper are some of the many large names who want to change their working culture and are located in WeWork offices. This will only grow. By the end of 2016 there will be over 10,000 coworking companies worldwide. At Co Work Hub, we have large companies here. Braiform are one of our members. They are second biggest producer of clothing hangers in the world with offices globally. They are very impressive and operate out of our office in North Acton. Wellington Markets PLC, have been managing markets in the UK for 800 years. We are privileged to have them as members and watch their business grow with us. I have seen with my own eyes that larger firms are more than capable of working within a shared office environment.

The coworking movement has been so rapid that traditional office space providers like Regus and the Office Group have adapted their business strategies to create just coworking offices. Both firms seek to attract smaller business into some their places. In the U.S. 33% of the workforce is independent or a freelancer. It has been forecast to increase by 40% by 2020 by Forbes, the American Bureau of Labor Statistics, Deskmag and Kap Design. The largest customers of coworking are freelancers.

At the core of the coworking movement will often be freelancers, startups, entrepreneurs and small businesses. On average, coworking space providers have 76 members. Most providers remain keen to attract smaller companies and concentration on the startup or tech revolution. According to Deskmag (coworking magazine) suggests that the need for coworking space remains largest with freelancers, startups and entrepreneurs. These types of individuals have a limited, often small budget and the flexibility that coworking and hot-desking offers is essential. So, is the big business adventure with coworking a fad or is it here to stay? Personally I believe the answer is yes, it is here to stay. All the signs and forecasts suggest that providers will aim to attract both small businesses and big businesses. Patrick Clark suggested that this is the beginning of the coworking big business revolution.

Meeting room

Will big businesses adapt to coworking, the answer is yes. The problem is will coworking be able to keep up with the demand. JLL have suggested that the productivity in the coworking environment is one of the reasons for the rapid growth in coworking among large corporations. The collaborative nature of coworking offices allow businesses to be more creative than they might have been if they were in their own isolated private office. The next big move for offices will be consolidations and mergers.

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5 common questions asked about coworking

5 common questions asked about coworking
  1. What is coworking?
  2. Is it noisy?
  3. How much privacy do I get?
  4. Is it safe to leave my things?
  5. What are the benefits of coworking?

 

1.What is coworking?

Coworking can be described as many individuals and/or businesses sharing the same workplace. As a coworking office space provider in North Acton, London, I have a large open planned office space and then provide entrepreneurs, startups and small business with shared office space.

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Shared office space

2. Is it noisy?

No more noisier than any normal office. When you work for yourself and you at the early stages of growth, your focus is for your work. Most of the people I have met that cowork, are driven, energetic and focused so from time things may sound busy. We have an exciting environment but people are respectful and mindful of others.

coworking games room
Breakout area

3. How much privacy do I get?

Most coworking offices I have been to have dedicated desk space. At Co Work Hub, you will  have your own dedicated fixed desk, storage and chair. We have meeting rooms and areas people can use if they temporarily need privacy. The office is very secure and we encourage a sharing culture.

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Large allocated desk space

4. Is it safe to leave my things?

You will be allocated a lockable pedestal to store your things. People can also bring in their own office furniture if they ask. There is CCTV both within the office and surrounding the building. We have manned reception and when reception isn’t here you will need a key fob.

Meeting room
Co Work Hub meeting room

5. What are the benefits of coworking?

When you start a new business, it is really helpful when others are going through the same process. You can not only shared experiences and also ideas. I have seen businesses grow quicker in coworking offices than they would have if they rented a private office. We encourage a sharing culture because it creates a community spirit where people help each other. It really does work and it does help improve your business. There are regular networking events at Co Work Hub, West London.

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Networking

 

 

Virtual Office Facilities

Virtual Office Facilities

Virtual Office facilities: Get you post deliver to here, then we forward it to you. Get you phone calls forwarded here and then we transfer them to you.

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Co Work Hub Virtual Office facilities are £40 + VAT per month. If you need a business address in zone 2 of London then Co Work Hub is your best choice. The only additional cost is postage. Virtual office facilities have now become an essential part of Co Work Hub. Because of our location in North Acton West London, virtual office usages is very high.

Virtual offices are popular among our members who work from home and want to access our meeting rooms. You can create a business presence without having to be in an office.

West London Networking

West London Networking

Tomorrow 6.30pm – 8pm at Co Work Hub, people and businesses will get an opportunity to network and make connections. There will be refreshments and food. If you are involved in West London then attending tomorrow’s event is a must! If you like to attend or get involved with your local community then please turn up. Summary West London communities!

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Address: 98 Victoria Road, London NW10 6NB.

Me – Intro
Jason Cobine – 6.30pm
Garry Reynolds – 6.45pm
Adam Micek – 7pm
Mark Walker – 7.15pm
Denise Quinlan – 7.30pm
Carlene Bender – 7.45pm
Networking – 8pm

 

April Networking

West London Networking

West London Networking

On Wednesday 27th April 2016 from 6.30pm – 8pm, there will be a free networking event held at Co Work Hub. There will be free car parking and bike racks. We are 5 mins from North Acton tube station and 11 mins from Willesden Junction tube station.

April Networking

This will be a great opportunity to network for individuals and businesses in North Acton, West London. There will be guest speakers presenting topics from business to IT. The last networking was oversubscribed so please RSVP by email via alex@coworkhub.co or call 0203 793 1614.

Support local West London Businesses.