![\"03](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/03_Growth_National_Twitter_1024x512.png\")
<\/figure>\n\n\nApproximately 75 percent of WeWork members are small businesses, including first-time entrepreneurs, local companies and nonprofits, and growing startups. They report that proximity to other entrepreneurs rather than setting up at home, or at the local coffee shop or traditional office, gives them a competitive edge. The statistics bear this out: After three years, new businesses at WeWork are 12 percent more likely to survive than their peer companies.<\/p>\n\n\n Rachel D. Wilson, founder of the Los-Angeles-based marketing firm Lady Rebranded, says WeWork has helped her thrive in the innovation economy.<\/p>\n \u201cI would estimate that 50 percent of my clients come from WeWork, or secondary and tertiary relationships that began at WeWork,\u201d says Wilson.<\/p>\n The Fortune 500 gets it, too.<\/strong> Every startup wants to be an enterprise and every enterprise wants to be a startup. Twenty-two percent of the Fortune 500 are WeWork members. Why are the world\u2019s largest and most influential brands joining WeWork? It\u2019s about securing diverse top talent: About half of WeWork\u2019s U.S. members are millennials between 24-34, more than 40 percent are experienced professionals over 35, and nearly all have at least a bachelor\u2019s degree, compared to 37 percent nationwide. It\u2019s just smart business.<\/p>\n\n\n But it\u2019s also about culture and community. About 40 percent of these enterprise members chose WeWork because they wanted a more creative entrepreneurial environment, and 30 percent of enterprise members have offices at WeWork in multiple cities.<\/p>\n Ryan Logue, head of sales at enterprise member NASDAQ Private Market Group, became a member at WeWork W. 43rd St. for a combination of each of these reasons. \u201cA big part of our decision to move to WeWork was to attract top talent with entrepreneurial spirit,\u201d he says.<\/p>\n\n\n Logue also believes being at WeWork helps its client-focused business. \u201cNasdaq Private Market serves private companies across the globe, including many of the world\u2019s most recognizable consumer and technology brands,\u201d he says. \u201cBy locating at WeWork, our team can provide better customer engagement by sharing the same values.\u201d<\/p>\n WeWork brings new people, businesses, and economic activity to neighborhoods.<\/strong> Seventy to 80 percent of WeWork members across New York City, Los Angeles, and Chicago did not work in the neighborhood prior to joining WeWork, bringing more activity and spending at local restaurants and shops.<\/p>\n\n\n One example is Glaze, a sleek storefront restaurant focusing on Pacific Northwest-style dishes that opened less than a block from Brooklyn\u2019s WeWork Williamsburg. Founder Paul Krug credits WeWork for its success when it opened in 2017.<\/p>\n \u201cFrom a startup perspective, there are so many ways that WeWork has helped us,\u201d says Krug. \u201cAnd it led to other business opportunities for us as well.\u201d<\/p>\n Krug says WeWork members are still a big part of his business.<\/p>\n \u201cWeWork continues to be extremely important for us,\u201d he says. \u201cIt\u2019s fair to say around 15 percent of our weekday lunch business is from WeWork.\u201d<\/p>\n With WeWork locations all over the city, people have the flexibility to choose their ideal place to work, finding one that allows them to work and live closer together\u2014reducing the amount of time spent commuting. In fact, small business members in WeWork LA are three times more likely to rely on public transit, walking, or biking\u2014and more than 66 percent live within 30 minutes of their office, compared to the national average of 51 percent.<\/p>\n\n\n But the sustainability benefits don\u2019t stop there. WeWork is 2.5x more efficient with space than a typical office, freeing up room for new people, businesses, and jobs. Increased density and efficient use of real estate can reduce a city\u2019s carbon footprint, unlocking space in neighborhoods without requiring additional construction.<\/p>\n The study also found that WeWork creates a powerful economic ripple effect for cities. It was clear that WeWork has had a positive impact on businesses of all sizes\u2014something that the study proved over and over again. Bringing all of these entrepreneurs, small businesses, and global enterprises together creates an innovation cluster in each WeWork building and a network effect connecting WeWork locations that form a constellation across the city.<\/p>\n Powering the innovation economy in cities.<\/strong> The innovation economy\u2014including advertising, media, tech, and telecommunications, among other fields\u2014is bringing high-paying, accessible positions to big cities like New York, Chicago, and Los Angeles. Entry-level jobs in this area pay at least 10 percent more than average.<\/p>\n\n\n More than two-thirds of WeWork members are employed in the innovation economy, compared to 14 percent of employment in the top 10 U.S. cities. These members add millions of dollars into a city\u2019s economy each year.<\/p>\n WeWork gives companies involved in the innovation economy a definite edge. They have access to beautifully designed workspaces in desirable neighborhoods, can network with others in their field, and have access to important clients.<\/p>\n Sam Zaid, CEO of Getaround, the leading peer-to-peer car-sharing company, explains how WeWork\u2019s global network enables frictionless growth. \u201cGetaround has regional offices at WeWork in cities all over the country, and it\u2019s been an important part of how we\u2019ve been able to rapidly scale our team and operations in new markets,\u201d he says. \u201cIt\u2019s not just about the space\u2014having a community of over 250,000 potential users is invaluable to our growth and to achieving our mission of bringing sustainable car-sharing to people everywhere.\u201d<\/p>\n\n\n A powerful economic multiplier for cities.<\/strong> The WeWork Economy creates an approximate 2x economic multiplier for cities, meaning for every 10,000 WeWork members, an additional 10,000 jobs are created through indirect and induced spending\u2014outpacing job creation in high-growth industries like management consulting, legal services, and real estate.<\/p>\n Why is this significant? The survey found that this \u201cmultiplier effect\u201d was responsible for millions more in taxes\u2014a boon to local and state governments.<\/p>\n![\"02](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/02_Survivability_National_Twitter_1024x512.png\")
<\/figure>\n\n\n![\"08](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/08_Enterprise_Numbers_National_Twitter_1024x512.png\")
<\/figure>\n\n\n![\"07](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/07_Enterprise_Reason__National_Twitter_1024x512.png\")
<\/figure>\n\n\nNeighborhood impact<\/h2>\n
![\"NYC](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/NYC_Blog_Working_in_The_Neighborhood_1024x512.png\")
<\/figure>\n\n\n![\"14](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/14_Sustainability_Transportation_Twitter_1024x512.png\"){kind=spacer}
<\/figure>\n\n\nCity impact<\/h2>\n
![\"13](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/13_Women_Facebook_Twitter_1024x512.png\")
<\/figure>\n\n\n![\"06](\"https:\/\/www.wework.com\/ideas\/wp-content\/uploads\/sites\/4\/2019\/12\/06_Economic_Multiplier_National_Twitter_1024x512.png\")
<\/figure>\n\n\n