The number of businesses continues to rise across the South West, reaching 71,510 in 2018.
With 99.7% of enterprises in the Heart of the South West being Micros or SMEs, there is a real focus on entrepreneurship and overcoming start-up and growth challenges. Business owners are utilising better quality workspace and business solutions to overcome these challenges.
Significant investment is being made to support business creation, relocation and growth. In Torbay, EPIC (Electronics & Photonics Innovation Centre) and the South Devon College Business Centre, based at the College’s new Hi Tech & Digital Centre, represent two multi-million pound projects with this exact purpose.
These Centres provide a professional workspace that is cost-effective to companies of all sizes and an opportunity to collaborate and thrive with other like-minded businesses.
Ges Green, Operations Manager, Business Centre South West, says: “Our Centres provide a fantastic opportunity for businesses to be part of our business community. We understand from our network of businesses the challenges start-up and growing businesses face and look to offer a solution to support these.”
“Our flexible terms enable quick occupancy of the offices and for peace of mind, we also offer easy out terms, so you’re not making a long term commitment that can’t be easily reversed. Our team of Business Advisors are at hand to offer support and advice and we hold networking events to bring the businesses together with other potential clients. Often, we hear businesses doing business over coffee in the shared space, that’s what it’s all about.”
Recent studies show that 79% of UK founders and entrepreneurs feel lonely running their business. This is considered one of the hardest challenges for entrepreneurs. Being part of a business centre gives them the chance to bounce ideas off other business owners and hear how they’ve overcome similar challenges.
Peer-support has been identified as a focus for 2019 with 84% of UK founders looking to peers to help them learn and improve their skills to run their business.
Micro businesses and SMEs look to rented office space to provide their business with a change of focus, counter feelings of loneliness or prevent home-based interruptions – all of which help enable productivity and growth.
Ges continued: “We find that businesses that use a rented office space and achieve their desired success can flexibly expand within the same workspace by taking up another office or moving to a larger office in the same Centre. This low-risk expansion provides a really strong case for anyone considering rental office space.”
Torbay Business Centre provides supported office space in Torbay. Recruitment company X4 took space in the Centre to develop relationships with their current clients and establish foundations with new ones to continue the growth of their award winning company.
Doug Beck, Senior Consultant at X4, located at Torbay Business Centre, said: “It was fantastic to get the office set up in such a short space of time. X4 is an ambitious recruitment agency and a swift turnaround enabled me to be able to focus immediately. The offices here are exactly what I needed; a cost-effective and professional environment that gives me the capacity to grow our business. Being based in an office where there is an active business community provides networking opportunities. The meeting room space and business advice is also a real plus for me.”
For more information about office space across the South West call TDA on 01803 926310.