A coworking and business support provider founded in Caerphilly has been named one of Wales’ most promising up-and-coming companies.
Town Square Spaces Ltd (TownSq) was recognized in this year’s Wales Fast Growth 50, an annual program identifying and showcasing Wales’ businesses that are most rapidly creating jobs, expanding, and generating turnover.
The company, which recently celebrated its fifth birthday, was named the fastest-growing business-to-business services firm in Wales and shortlisted for the fastest-growing Valleys-based firm title.
Founded in 2017, TownSq is an ever-growing network of coworking and business hubs in UK towns and cities which supports entrepreneurship and seeks to inject life into local economies. As well as providing workspaces, meeting room hire, and super-fast wi-fi, the team delivers fully-funded business development courses and expert workshops.
In 2022, the B-Corp secured major contracts to set up and operate new coworking spaces in Hereford, Royal Tunbridge Wells and London, which, when launched, will take the total number of TownSq sites across England and Wales up to 12.
These, alongside numerous other projects – including the Cowork Local initiative, which has been supported by the UK Community Renewal Fund – have allowed TownSq to grow their team to over 40 staff members, with 18 new arrivals in the past year alone.
Co-founder and CEO Gareth Jones said he was proud of TownSq’s progress over the past year: “It feels fantastic to be recognized for what has probably been our busiest year yet. We’ve reached a number of huge milestones and our initial vision for the company is really taking shape five years on.
“Collaboration is at the core of coworking, and it’s just that which has been a driving force for us this year too, having joined forces with a number of major partners, including Cardiff University, and expanded our own team. It’s this support system and strong network of like-minded colleagues that puts us in fantastic stead to continue on our growth trajectory and help people in as many places as we can to transform their working lives.
“We can see that there is an appetite for coworking that will only get stronger as people continue to seek flexibility, community, and agency in their own professional lives, and TownSq’s growth as a company is a reflection of this wider change in attitudes,” said Jones.
“We are very happy with what we have achieved so far, both in 2022 and in our five years overall, and we are excited to see what the next chapter will bring for us and our industry,” added Jones.
ABOUT TOWN SQUARE SPACES LTD
TownSq creates communities across the UK that foster the creation and growth of enterprise through collaboration, support and leadership. The business operates hubs in North Wales, Oxfordshire, Cardiff, West Sussex, Devon, and London, and can support people from an idea right through to founding, investment and growth. It runs Startup Club, an after-work support program to help people who want to start a business but are unable to quit their job, as well as TownSq Accelerator, to fast-track businesses that are aiming to grow quickly.