Business support and workspace experts Town Square Spaces Ltd (TownSq) has marked seven years in business with the launch of a new HQ and coworking space in the heart of the Valleys.
In its busiest year yet, the company has continued to grow its turnover by 50% to just under £4m and hit its profitability targets as previous investments in growth start to pay off. The continued growth in revenue has again seen the company recognized as one of the fastest-growing businesses in the UK, and it will be listed in the UK Fast Growth Index 2024 at the ceremony in London this month.
The business has added three new spaces to its roster, including its second London space in Kingston, a historic Town Hall in the heart of Tunbridge Wells, and its new HQ in Caerphilly – which will grow its business support offering in the Valleys. It has also assisted in the launch of its first Associate Space with the opening of The Goldworks in Ebbw Vale in October, giving local people a workplace and support to start and grow their businesses in Blaenau Gwent.
Beyond physical space, the company has led on a number of entrepreneurial support projects, including Shared Prosperity Fund (SPF) programs in Caerphilly, Powys, and Neath Port Talbot. Alongside its work across the UK, it has directly supported almost 5,000 startups, freelancers, and small businesses.
TownSq also entered into its first international partnership with Dublin-based software company Baseworx, gaining an exclusive license to utilize its leading flex-space management software for growth in the UK. The deal will see the business add to its more service-driven offering, providing workspaces with a management tool to grow their communities.
Finally, as part of its ongoing research and thought leadership projects, the company launched its third whitepaper titled, “What if there were no freelancers?”, focusing on the impact solo entrepreneurs have on the economy, the challenges and opportunities they face, and what can be done to support them.
“We’re delighted to see our investments into our growth start to pay off as we now see all of our sites in operation and our services businesses continue to grow. The broader economic context has remained uncertain, but nationwide we continue to meet inspirational founders, freelancers, and SMEs that show the power and strength of the UK’s economic backbone,” said CEO Gareth Jones.
“Our hope over the next period is to continue our innovation process on our services business and develop further strategic partnerships while focusing on our overall profitability to ensure we can continue to push and drive positive impact for our communities,” added Jones.
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About Town Square Spaces Ltd (TownSq)
TownSq creates communities across the UK that foster the creation and growth of enterprise through collaboration, support, and leadership. The business operates hubs in Wales, Oxfordshire, West Sussex, Devon, Hereford, Kent, 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.
