With the increasing number of start-ups, demand for co-working space is augmenting, particularly in the UK’s Tech City. Co-working spaces are hinges of start-ups and have assembled people having lack of resources, which is likely in the case of most of the start-ups as moving into large and permanent offices is quite not possible, initially.
Comprising of the usual office necessities such as a desk, internet connection, coffee machine, and washroom etc., these co-working spaces charge start-ups on the number of each desk used. This is, significantly, cheaper than that of buying or renting a large permanent working place.
Apart from the cost benefits, it also offers a collaborative environment by which the start-ups might ask their co-businesses for helping or suggesting on things like website design, PR etc.
One of the companies in East London, Shoreditch Office Space, offers a place for start-ups. Its head Luke Francis, in an interview with Techworld, told about how these emerging small businesses are desperate for finding a co-working space in East London.
He said, “Demand is huge for co-working space, and a large number of the providers are now looking for new buildings to expand into.” He added, “People are increasingly aware of the benefits that co-working space offers – notably the chance to be around like-minded individuals with a wide range of skill sets and interests.”
Some companies, who started as small start-ups by working under these co-working spaces, like Angry Birds-creator Rovio and cloud communications platform Twilio, have grown rapidly since past years.