{"id":30803,"date":"2018-10-24T19:21:38","date_gmt":"2018-10-24T23:21:38","guid":{"rendered":"https:\/\/www.wework.com\/creator\/creator\/?p=30803"},"modified":"2024-06-12T15:18:54","modified_gmt":"2024-06-12T19:18:54","slug":"in-london-entrepreneurs-say-weworks-effect-on-their-bottom-line-is-enormous","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/community-stories\/member-spotlight\/in-london-entrepreneurs-say-weworks-effect-on-their-bottom-line-is-enormous","title":{"rendered":"Early London WeWork adopting businesses find success"},"content":{"rendered":"\n

In 2014, when Felix Jackson was looking for office space in Central London<\/a> for his medical communications agency\u00a0<\/span>medDigital<\/span><\/a>, he had to be led by instinct alone. Well, instinct and the blueprints of WeWork\u2019s first London location, at\u00a0New Kings Beam House on the South Bank.<\/span><\/p>\n\n\n\n

\u201cI found it on Twitter,\u201d Jackson says, noting that it\u2019s been four years, almost to the day, since he and his team moved into WeWork. \u201cI\u2019d been looking for a long time. You could get shared office space, which is very expensive, or you\u2019re getting really poor quality space in a business park out of town. WeWork came along and that was it: that perfect sweet spot.\u201d<\/span><\/p>\n\n\n\n

The impact on medDigital, says Jackson, has been \u201cenormous.\u201d Clients were impressed, and overnight the company seemed like a much more serious proposition. Coming from a small office<\/a> in the London suburb of Esher, the move to WeWork put medDigital at the heart of the action, with all the attractions of a middle-of-it-all location for prospective clients and potential hires. <\/span><\/p>\n\n\n\n

This aspect of WeWork New Kings Beam House\u2014plus the plentiful perks, like freshly brewed coffee and frequent networking events\u2014is crucial for a small business like medDigital.<\/span><\/p>\n\n\n\n

\u201cWe\u2019ve had people come in and say, \u2018I\u2019d like to work here,'” says Jackson. \u201cThey\u2019ve accepted the job before you\u2019ve even done the interview.\u201d <\/span><\/p>\n\n\n\n

We checked in with several WeWork members who were among the first to take space at WeWork London. They are still members, some in their original buildings and others in one of the 38 other buildings that have been unveiled around the city.<\/span><\/p>\n\n\n\n

The latest statistics from WeWork\u2019s 2018 London economic impact report<\/a> support Jackson\u2019s experience hiring staffers: The average member in London has added 5.8 employees since joining WeWork.<\/span><\/p>\n\n\n\n

The findings were released this week by Cebr, an independent economics and business research consultancy established in 1992. <\/span>WeWork commissioned Cebr to develop the first detailed economic and fiscal impact analysis of WeWork\u2019s impact on London\u2019s economy.<\/span><\/p>\n\n\n\n

Positive impact on the workforce<\/strong><\/span><\/h2>\n\n\n\n

Andrew Stafford of Big Sync Music<\/a>, which moved into WeWork New Kings Beam House at the same time as medDigital before moving to nearby WeWork 30 Stamford Street when it opened, has observed a similarly positive impact on his workforce.<\/span><\/p>\n\n\n\n

\u201cAny workplace that makes people want to stay around later than their working hours is good,\u201d he says. \u201cIt blurs the lines between office and entertainment time.\u201d<\/span><\/p>\n\n\n\n

\"\"
\u201cOur clients enjoy coming into our office,\u201d says BrandFuel’s David Ball. \u201cIt gets them away from the distractions of their own spaces.\u201d<\/figcaption><\/figure>\n\n\n\n

Office life at the music licensing agency can be \u201cquite noisy,\u201d admits Stafford with a chuckle, so he and his team make a point of making friends with their neighbors. \u201cI\u2019m still friends with some of the staff from the old building,\u201d he says. \u201cAnd it was nice to make new friends with everybody here [at 30 Stamford Street].\u201d<\/span><\/p>\n\n\n\n

The sense of community that is such a major element of the WeWork offer could be having more profound impacts, too. \u201cThriving at Work,\u201d <\/span>an independent study published by the UK government in 2017<\/span><\/a>, found that 15 percent of people in the British workplace have symptoms of an existing mental health condition. That same report found that good working conditions and a healthy work-life balance are crucial when it comes to supporting workers through mental health challenges and ultimately reducing the number of people who are unable to work as a result of poor mental health.<\/span><\/p>\n\n\n\n

Traditional offices can be isolating environments, but the sorts of amenities and services that WeWork provides\u2014fully equipped kitchens to tempt people away from eating alone at their desks, free yoga sessions to help people relax, and regular social events run by members for members\u2014could make all the difference. <\/span>A study released this week by Cebr, an independent economics and business research consultancy, confirmed that <\/span>44 percent of WeWork members surveyed say that they value the events organized by WeWork.<\/span><\/p>\n\n\n\n

‘Good for our company culture’<\/strong><\/span><\/h2>\n\n\n\n

Being based at WeWork New Kings Beam House is \u201cgood for our company culture,\u201d says David Ball, whose creative agency BrandFuel moved in when the building opened in October 2014. The agency has almost doubled its desk space at WeWork since those early days, going from 32 to 72 desks. <\/span><\/p>\n\n\n\n

Ball reports that\u2019s there a \u201creal energy to the space,\u201d with staff choosing their working stations day by day in response to the fluid, project-based nature of BrandFuel\u2019s model. It\u2019s a setup that also appeals to the agency\u2019s clients, big tech companies with high expectations for office space thanks to the perks they\u2019re used to at their own HQs. <\/span><\/p>\n\n\n\n

\u201cOur clients enjoy coming into our office,\u201d says Ball. \u201cIt gets them away from the distractions of their own spaces.\u201d<\/span><\/p>\n\n\n\n

As WeWork has expanded its London footprint over the past four years, with buildings now spread across the city from Hammersmith in the West to Hackney in the East, a wider range of companies have been able to take advantage of its benefits. It now boasts 35,000 members in London.<\/span><\/p>\n\n\n\n

WeWork not only offers appealing spaces in which to work; the company is a \u201cgood community manager,\u201d says Ball. \u201cWe pushed our WeWork to be much better at recycling. They listened and the brand as a whole has done a lot to take away plastics. They listen and they act where they can.\u201d<\/span><\/p>\n\n\n\n

Back when BrandFuel began its WeWork journey, Ball says, \u201cNo one knew what it was. Everyone knows WeWork now and it\u2019s a good brand to be associated with.\u201d<\/span><\/p>\n\n\n\n

 <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

We checked in with several of the first WeWork London member companies. They’re all going strong<\/p>\n","protected":false},"author":1563,"featured_media":30805,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"template-single-archived.blade.php","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43903,43911],"tags":[501,503,1484,39217,39218],"class_list":["post-30803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-community-stories","category-member-spotlight","tag-coworking","tag-culture","tag-emea","tag-temporary-space","tag-small-businesses"],"acf":[],"yoast_head":"\nEarly London WeWork adopting businesses find success<\/title>\n<meta name=\"description\" content=\"We checked in with several WeWork members who were among the first to take space at WeWork London. 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