Is Uncertainty the new Norm?

Is Uncertainty the new Norm?

The flexible workspace industry is ideally positioned to help businesses to grow post Brexit

BCA member, Citibase, has released the results from its inaugural Brexit Tracker Survey, designed to follow current sentiment among its UK SME Customers following the Brexit referendum result in June.

One of the standout findings from the survey was that confidence remains high among small businesses using serviced offices in the UK’s regional towns and cities. The findings showed resilience to the ongoing Brexit uncertainty and how landlords can benefit from creating flexible and affordable workspace in their underutilised office buildings.

Some reports are suggesting that a significant number of UK SMEs are concerned about the impact of Brexit, but only a few have any plans in place to mitigate the worst effects.  

The CBI’s latest economic forecast expects inflation to peak in early 2018 at 2.4%.    The fall in the pound and higher inflation will have a strong bearing on the outlook for the economy and heightened uncertainty will weigh on business investment.

The Autumn Statement showed the reality of the state of the country’s finances and they were in worse shape than at first predicted, which the OBR attributed to the impact of Brexit.  

All of this creates an environment in which business could be forgiven for tightening its belt and adopting a wait and see approach.   However, UK SMEs are resilient and remain upbeat ready to tackle what lies ahead.    A large number of SMEs view Brexit as an opportunity rather than a hindrance.   Nothing like uncertainty to get everyone working together for a solution.

Steve Jude, CEO, Citibase commented:

“Nimble entrepreneurs are the reason for this confidence among small businesses. Some enlightened landlords are now realising that flexibility and affordability are key. When these qualities are combined with well-located workspace it creates an irresistible mix for small businesses and a great opportunity for filling empty office stock with the income-generating occupiers of the New Economy. Citibase Customers have brushed off any negativity surrounding the out vote as they look to get on with running their businesses.”

The flexible workspace industry is in the perfect position to make the most of this climate and help businesses continue to grow and thrive.   Entrepreneurs and startups are looking for the best value and maximum flexibility and least risk, and flexible workspace provides the ideal solution.   

Adaptable, flexible easy in easy out terms, along with excellent facilities and high quality customer service makes the serviced office an increasingly popular option, not just with start-ups and SMEs but also scale-ups, larger businesses and corporates benefitting from the entrepreneurial buzz emanating within flexible space locations.

Over the last decade, the serviced office industry has grown by around 67 per cent and looks set to continue the upward trend.   In challenging times, the flexible workspace industry will be certain to play a key role.  

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