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What Brexit could mean for your workspace

Apr 15
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The word ‘Brexit’ has quickly become the ‘Voldemort’ of modern day Britain. After all, to speak the word in a public place is to illicit mournful expressions, sudden gasps, and controversial opinions.

But while ‘he who must not be named’ has long been defeated, the approach of Brexit continues to loom in the background. Let’s take a look at what Brexit could mean for your workspace.

So what’s to come?

If you’re a freelancer or start-up searching for an office space in London…

Flexible workspaces and serviced offices in London have been a huge trend in recent years and we don’t see this slowing down. After all, industry experts JLL predict 30% annual growth over the next 5 years. Similarly, the freelance economy has grown by 25% in the last 10 years. Coincidence? We think not.

Flexible workspaces ordinarily comprised of private office space and meeting rooms which meant start-ups and freelancers could only consider a 1 person private office. This was not always an option due to overheads or a severe lack of stock of small offices in London.

In recent years, leading serviced office operators have continued to roll out inspired new products which appeal to the freelancer including membership lounges, co-working, hot-desking, virtual offices, and networking events meaning they no longer have to work from home. All of these new flexible workspace services have opened doors and helped start-ups thrive (especially in the tech industry).

With freelancers now accounting for approximately 2 million workers and Brexit creeping ever-closer, established businesses are looking to increase their work with freelancers due to 1) their flexibility and 2) their ability to reduce fixed costs (such as payroll and real estate).

If you’re a freelancer or start-up looking for a place to pop by, plug in, and have a few cups of very good coffee, we’d recommend checking out our Boutique Members Club as a great alternative to running your business from a coffee shop. We have members clubs within our office space in Shoreditch, office space in Farringdon and our office space near London Bridge.

If you’re a PLC or entrepreneur…

You may be feeling a little nervous about how Brexit might affect UK businesses.

What we can tell you is that many established companies are downsizing their office space in London to open more satellite offices on flexible terms across Europe (especially Dublin) and they are no longer considering long-term leases when they can get a creative and design-led serviced office in London on flexible terms. Twelve-month agreements allow them to upsize and downsize in uncertain times, plus they gain the added benefits of a flexible workspace such as a roof terrace, an event space, meeting rooms, serviced apartments, a reception, and it allows them to network with like-minded companies face-to-face instead of via LinkedIn.

If you are looking for a creative office space in London then visit our webpage and book a viewing. Alternatively, if you are just starting up and wandering around London in search of a place to get down to business, sign up to our Boutique Members Club and get access to any of our 8 vibrant business lounges in London whenever it suits.

Expecto Patronum, right?

Interested in our Boutique Members Club? Shoot us an email at join@boutiquemembers.club or give us a call on 020 3405 7000

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