How co-working spaces can boost local economies
In the US, when given the option of remote work, 87% of employees take up the offer.
- In the US, when given the option of remote work, 87% of employees take up the offer.
- These spaces provide flexible access to shared workspaces, with a range of facilities such as decent coffee, good wifi, digital printing and postal services.
- Since they first emerged in the US in 2005, co-working spaces have seen significant growth in both urban and rural locations.
- Some are run by large global companies while others are set up by local independent providers.
Commercial collaboration
- Such a diverse community can open up new opportunities for collaboration and the exchange of ideas – and even the potential for new commercial partnerships.
- And while most co-working spaces are designed for desk workers, there are an increasing number of manufacturing and engineering companies getting involved.
- Spaces which provide access to things like CAD software, 3D printers and lathes are particularly useful for small design or artisan businesses.
A role for policy?
- In the US, for example, there has been a political push to promote co-working spaces as seedbeds of entrepreneurship.
- The Organisation for Economic Co-operation and Development (OECD) has also expressed interest in the potential of co-working spaces to boost regional development.
- But so far in the UK the role of co-working spaces has largely been absent from any political party’s vision for developing regional economies.
- Overall though there seems to be a lack of strategic thinking from the national government on the funding and location of co-working spaces.