The Demand for Flexible Co-Working Space Is Expected to Soar

SMEs have new priorities when it comes to choosing a property for their business. Finding the perfect workspace used to be all about location, being in a prime spot that is both commutable and convenient. These days however, more small businesses are opting for a workspace that offers greater flexibility and new opportunities.

A survey by the UK's leading solicitors network, Quality Solicitors, found that the demand for flexible co-working space is set to escalate. The survey which involved 250 SME decision makers across the UK demonstrates new trends in workspace requirements. Of those questioned, a majority of 71% predict flexible and shared workspaces to be a top priority for small businesses in the near future. More than two fifths (42%) consider flexible and adaptable working environments, that allow businesses to grow, as being more important than the location of the premises. SMEs also recognise the importance of networking opportunities, with 39% declaring that they want an office space that gives them the advantage of networking with other businesspersons. The study also found that nearly one fifth of those questioned (18%) feel that it's important to work in an environment where they can interact and collaborate with other businesses. 

Since income can be very unpredictable, SMEs are calling to put an end to long-term tie ins. 54% of respondents want flexible, short-term leases, and 53% say they are even willing to demand a break clause to prevent themselves from being tied into long-term contracts. As flexibility is of utmost importance to small businesses, it's important for commercial landlords to consider their needs. 

The commercial property conveyancing expert at Quality Soliticors, Michael Sandys, states “It’s clear from this research that the traditional, one size-fits-all approach to commercial property conveyancing is no longer valid. SMEs now want a different kind of workspace, which offers flexible space and networking opportunities to boost efficiencies and maximise the space. They don’t want to be tied down, so we’re seeing more and more businesses demanding shorter, less restrictive leases to give them the freedom to move around if they need to.”

Here at QV Offices we believe that small businesses should have room to grow, which is why we offer SMEs the most flexible workspace solutions to suit all of their requirements.