There has never been a better time to be providing flexible workspace. Demand is increasing year on year with more and more entrepreneurs starting their own businesses.
The latest report into the UK Business Centre Market says that it is uniquely placed to respond quickly and adapt to changing demand from businesses.
The Business Centre Association’s (BCA) study highlights the flexibility and innovation offered by ‘fleet of foot’ business centres which can quickly adapt leases, facilities and the sizes of units to suit the evolving needs of customers. The strength of the market lies in the ability of operators to manage properties and customers effectively, creating an environment which is based on flexibility, community and simplicity.
Justin Urquhart-Stewart, co-founder of Seven Investment Management says: “The provision of flexible business space is a crucial pillar for any successful economy. To allow companies to flex their growth according to demand, need and cost is fundamental for most industries striving to develop. Over the past decade we have built a highly successful and valuable business. I can say very honestly that we could not have achieved this without having access to variable and flexible office space. If the UK economy is to continue to burgeon and flourish then a greater number of growing businesses will require the vital services of the BCA members.”
Looking to the future, the report concludes the business centre sector has an increasing role to play. The operators of such centres have a strong and successful business model, being able to adapt to market conditions more easily than traditional operators. This drives demand, boosts supply and supports the exceptionally strong letting activity.
The business centre market comprises around 80,000 businesses, which employ over 400,000 people and generate approximately £2 billion of income for UK Plc. The sector occupies almost 70 million square feet.
Find your workspace
Visit www.bca.uk.com to see the full UK Business Centre Market report.