Keep an eye out for members from the fastest growing sectors…
Despite the coronavirus pandemic and its impact on businesses, a number of sectors have been experiencing growth over the last year or so.
Some – such as edtech – are flourishing because their innovations are enabling people and businesses to operate uninterrupted from anywhere in the world.
The growth of sectors can be measured in different ways. One way is to identify areas that have experienced the largest growth in investment.
Another is to subtract the market size for year one from the market size for year two.
Of all the growing sectors out there today, we’ve selected the ones we think are most appropriate for our audience: coworking operators.
We’ve decided to leave out sectors that don’t typically utilise flexible workspaces, like “commercial aircraft manufacturing”. (The growth of which, if you really want to know, is being driven by an appetite for air travel in emerging areas and the need to replace fleets.)
As a coworking operator, you should ensure that your space is ready to meet the demands of members from growing sectors. If it’s not, now’s the time to learn and upskill.
Are you prepared for future members?
1. HR and recruitment services
LinkedIn data reveals that HR and talent management positions accounted for four of the 20 roles with the fastest-growing number of positions in the UK between 2017 and 2021.
The role of the HR professional has never been more important or multifaceted.
Today’s HR teams are responsible for more than policy. Following the Great Resignation, and amid skills shortages in a number of areas, a dynamic HR division is an invaluable resource when it comes to nurturing workplace culture, and attracting and retaining talent.
Technology is another driving force in the HR sector’s growth. Increasingly, companies are investing in software that can automate tasks, enabling them to focus on other things.
If you’re looking to attract members in the growing HR sector, promote the networking side of your value proposition. Let HR professionals know that as well as providing them with ample desk space and a room for interviews, you can help them to expand their list of potential employers and clients through your events and membership network.
2. Renewable energy
Renewable energy is another sector with lots of potential.
The price of renewable energy has decreased in recent years, making it more economically viable for countries, businesses and individuals to adopt. The EU wants green electricity to account for 32% of its total energy consumption by 2030, and renewable energy in general will play a key role in the world’s journey to net zero.
The first step to understanding members who work in the renewable energy sector is to figure out what the term actually means.
National Grid has a handy article that explains the difference between green energy and renewable energy. Check your own energy sources too – how is your coworking space powered? If you’re yet to “go green”, now could be the time.
3. Travel
The travel industry is set to grow more than 13% between 2022 and 2026, so keep an eye out for new tech platforms in your city that might need a workspace.
According to the report, this growth is due to an increase in people travelling abroad, as well as technological advances and social media prevalence.
The coworking industry often looks to travel for inspiration.
Like a hotel, we want our spaces to be “destinations” for business owners – we want them to engage with our spaces, not just exist in them. How would a tourism professional rate your service? Could your space do with a little TLC? Play the role of hotel inspector!
4. Edtech
Funders have an appetite for edtech right now.
Edtech firms are making learning more experiential and accessible through cloud-based apps and innovations.
UK edtechs secured 70 funding rounds in 2021, up 68% from 44 in 2020. 552 of the UK’s active high-growth companies operate in the edtech sector, and edtech is the second fastest growing startup sector in the UK, according to Beauhurst.
It’s easy to understand why funding is flowing into edtech.
Teachers and businesses need to be able to educate people remotely, but it can be difficult to motivate and engage from a distance. There are lots of interesting edtech platforms out there, many of which use gamification to make the learning process more fun. For an insight into some of the best, check out Cult of Pedagogy’s article on the 6 to try in 2022.
Before you think about how to make your coworking space appealing to edtech startups, assess your own educational credentials. Does your space offer opportunities for learning as well as fun? Consider adding workshops, seminars, lectures, and apprenticeships or work experience opportunities to your membership package.
5. Proptech
Proptech is another high growth tech area – especially in Europe.
In fact, PitchBook data reveals that despite the pandemic and the uncertainty faced by investors, the proptech sector accounted for around 20% of global proptech investment in 2021, including €3.8bn of venture capital investment across more than 200 deals.
Proptech enables property professionals – from developers to banks – to manage real estate transactions more efficiently, and for customers to experience a more streamlined buying or renting journey. Nexudus is an example of a proptech company specialising in coworking.
So, we’re going to finish off with a shameless plug for our services!
Established in 2012, we’re the leading white-label management software, enabling coworking operators to automate workflows, streamline operations, support their members and scale up. An added bonus is that we integrate with your other software solutions too.
If you’re interested in joining up, don’t hesitate to get in touch.
If a potential member from a growing sector approaches you, but you know you can’t meet their specialist requirements, consider suggesting another niche coworking space or one that is better equipped to meet their needs.
The space you suggest might return the favour when the same thing happens to them!
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