COWORKING IS A GLOBAL MEGATREND. BY 2020 MORE THAN 65 MILLION NEW SOLOPRENEURS AND SMALL BUSINESS OWNERS ARE EXPECTED TO JOIN THIS NEW REVOLUTION AND MIND SHIFT IN WHERE AND HOW WE WORK. (US Bureau of Labor Statistics)
Although the trend towards coworking space investment started in the US, the market has quickly moved to other countries including the UK, the UAE, Singapore, Hong Kong, India and China amongst others. Major players within the coworking space sector already have global footprints, offering investors the opportunity to capital in the high demand for work space in ultra prime locations such as New York, London, Dubai, Birmingham and San Francisco. Indeed, throughout the majority of developing economies, demand for these more flexible working environments have resulted in coworking office space investments becoming increasingly popular over the past 2-3 years.
Key to the success of the coworking space investment model has been its appeal to all sizes of company and enterprise. Whilst entreprenuers and smaller businesses have been attracted by the lower capital outlays, access to supplementary services and increased flexibility, larger corporations have also seen benefits such as increased productivity. Indeed Lloyds Bank recently announced that 30% of their 18,000 strong workforce have the ability to work flexibly - allowing the bank to significantly reduce its fixed overheads.