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Three-Quarters of Businesses Looking to Switch Workspace

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An independent survey of 1,002 senior decision-makers within UK businesses has found:

  • 76% are actively considering changing their workspace or expect to do so in the next year. 
  • 59% feel that flexible or coworking spaces are the best fit for their business’ needs. 
  • 45% of businesses currently using flexible workspaces are unlikely to ever rent their own private office again. 

Three quarters of UK businesses are on the hunt for a new workspace, according to new research from NCG.  

The digital infrastructure specialist commissioned an independent survey of 1,002 senior decision-makers within UK businesses. It found that 70% of businesses currently use an office or workspace on a hybrid (46%) or full-time (24%) basis.

Serviced offices (37%) are the most common type of space businesses use. This is followed by office and meeting space hired by the hour or day (36%), private offices (35%) and flexible or coworking space (32%), with many businesses using more than one type of space to meet their needs.

Of all the businesses that currently use any form of workspace, 76% said they are either actively searching for a new space or plan to start looking in the next 12 months. Most (59%) said they are regularly assessing the choice of different workspaces to see which best fits their needs.

Speaking specifically to those who currently use a flexible or coworking space, nearly half (45%) agreed that they were unlikely to ever rent their own private office again, with 59% agreeing that flexible workspaces are the ideal fit for their business’ needs.

“The times have changed. Today businesses have so much choice of where their employees can work. Clearly, leased and serviced offices remain popular, but flexible and coworking spaces are on the rise, while pay-as-you-go spaces are also becoming an attractive option for businesses that are largely remote but meet in person on occasion,” said Thomas Proctor, CEO of NCG.

“There are significant knock-on effects for the entire office and commercial real estate sectors. Ultimately, choice is power, and our research highlights that businesses are constantly evaluating their options. This means that deliver great spaces and great experiences is imperative – otherwise, as our data proves, businesses will simply vote with their feet.

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“It’s critical that landlords and workspace operators remain agile if they want to successfully meet the changing demands of modern working – namely, spaces that are dynamic, attractive and tech-enabled. Doing so can simultaneously improve tenant retention and futureproof their assets.”

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About NCG

NCG provides the digital backbone for the built environment, servicing real estate, urban logistics and enterprise customers across the UK and Europe. In a fast-moving world, we connect physical and digital assets to help our clients stand out, serve their customers and stay relevant. We manage all the technological hassle to free our customers to focus on what they are good at, knowing our unmatched support and expertise won’t let them down.

Based in London, NCG was founded in 2019 by Thomas Proctor (CEO). Prior to founding NCG, Thomas spent many years working alongside some of the biggest names in the commercial real estate sector, such as British Land and Aviva Investors, before embarking on his mission to change the way property technology infrastructure is created, implemented and managed.

About the research

The market research was carried out between May 1-9, 2024 among 1,002 senior decision makers in UK businesses via an online survey by independent market research agency Censuswide. Censuswide abides by and employs members of the Market Research Society which is based on the ESOMAR principles. Its MRS membership means that it adheres to strict guidelines regarding all phases of research, including research design and data collection; communicating with respondents; conducting fieldwork; analysis and reporting; data storage. The data sample is fully nationally representative, ensuring the respondents are weighted by age, gender, region, employment status and political views.

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