PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Growth of large operators threatens existence of grassroots coworking spaces, study warns

2023-09-14
(Press-News.org) The growing number of large operators and developers opening coworking premises threatens to end the availability of grassroots community-oriented spaces designed to bring isolated workers together, a new study warns.

These coworking communities were originally set up to create serendipitous encounters, knowledge-sharing opportunities, and social capital. But the increasing numbers of big companies running flexible offices means they are less likely to offer services matching these aims.

Smaller operators see the incursion by large commercial real estate developers as a threat to the coworking market.

Researchers found in the post-pandemic context it is becoming more difficult for coworking providers who lack the financial independence to withstand increased competitive pressures, or for those who are unable to compete by means of diversification, discounted fees, or cross-subsidisation, to remain viable as businesses. 

The study, by Edward Yates, Greig Charnock, Frederick Harry Pitts, Jennifer Johns and Ödül Bozkurt, is published in the journal Competition & Change

Funded by the Economic & Social Research Council Digital Futures at Work Research Centre, the researchers carried out 44 interviews with co-working space owners, managers, and people involved in their local economies during 2019 and 21 in Brighton and Hove, Bristol and Greater Manchester.

Dr Pitts, who is based at the University of Exeter, said: “Independent coworking companies are adapting their business strategies in the face of competitive pressures from corporate commercial office space providers, who are increasingly using the branding and inside-space designs and aesthetics of coworking as it was originally conceived as an element of their growing flexible office space offer.

“They are increasingly compelled to compete with these larger providers by attracting and retaining ‘enterprise clients’ such as remote teams of workers from larger companies, or even entire companies, to secure future flows of revenue in the short-term, flexible office space market.”

The study shows even major coworking space owners and managers are consciously moving away from the original notion of neutral spaces occupied by freelance workers who seek the benefits of community and collaboration.

Researchers found three different coworking business models in the UK – spaces funded by an external organisation or benefactor, larger spaces owned and directly operated by office real estate landlords as a component part of their operational portfolio and those run by small, independent operators who do not possess a diversified portfolio of commercial real estate.

The expansion of large commercial flex-space providers has been driven by a decline in commercial clients taking out traditional leases on office space typically lasting five to ten years since 2016. This decline has been accelerated by the 2020 pandemic and the anticipated shift to more hybrid working practices and cultures.

A pressing challenge facing coworking space managers stems from the ‘pay-as-you-use’ pricing model operated by most prior to the pandemic. This model was popular with individual users but did not provide ‘surety of income’.

Larger, flex-space providers also use new streams of revenue from enterprise clients to cross-subsidise discounted prices for individual or early-stage start-up users. This dual pricing strategy is challenging for independent operators who could not cross-subsidise their offer in such a way, and need to grapple with the dilemma of whether to pass on rises in rent, energy, and business rate costs to users.

Dr Pitts said: “Faced with increasingly stiffer competition from larger commercial real estate landlords entering the market, smaller coworking operators must adapt. They must be willing to innovate and diversify, to seek out whatever competitive advantage they can, or find some other means of compensating for their failure to remain profitable.

“Coworking can offer much to users as bases for community formation and as remedies to social isolation, as well as to city-regions as contributors to the tax base and as sites of skills formation. Spaces must remain viable as business in an increasingly competitive economic sector, and against a macroeconomic backdrop of increasing inflation and a longer-term failure by the central state to engage in proactive industrial planning for UK city-regions.”

There are signs that the coworking bubble may be bursting, however. “The financial difficulties faced by WeWork suggest that some of the pandemic-era dynamics we picked up on may be on the wane,” Dr Pitts said. “But this exceptional case does not necessarily tell us where the coworking market will go next, as individuals and companies continue to navigate the post-pandemic world of work.”

END


ELSE PRESS RELEASES FROM THIS DATE:

Using topology, Brown researchers advance understanding of how cells organize themselves

2023-09-14
PROVIDENCE, R.I. [Brown University] — The fact that humans and other living organisms can develop and grow from a single cell relies on a process called embryonic development. For healthy tissue to form, cells in the embryo have to organize themselves in the right way in the right place at the right time. When this process doesn’t go right, it can result in birth defects, impaired tissue regeneration or cancer. All of which makes understanding how different cell types organize into a complex tissue ...

A call for better energy system models to enable a decarbonized future

2023-09-14
Energy system models fail to accurately represent energy storage and might recommend decarbonization strategies that make electric grids less reliable. Policy makers and utilities need robust energy system models to determine the best strategies to decarbonize the world’s electric grids. But most existing models were designed for grids operating more than a decade ago. Today’s grids are much different. New technologies such as solar power and grid energy storage are being rapidly deployed. To accommodate these and other technologies, utilities must run grids in completely new ways. Improvements are needed in energy system ...

Stretching the truth: New research reveals negative effects of exaggerative political statements

2023-09-14
Justifying policies through unsubstantiated or slightly invalid arguments can have a significantly negative effect on the public opinion of politicians, according to new research from City, University of London. With increasing scrutiny on global government policies in a ‘post-truth’ era, and in the aftermath of the Covid-19 pandemic that polarised international responses and reactions to the virus, an increased focus has been placed on policymakers to justify their actions and validate reasons for taking decisions. Short of lying, this can often politicians “stretching arguments” – making invalid claims that are difficult to both prove and disprove. The study, ...

Aegis Consortium funds research aimed at reducing the threat of future pandemics

Aegis Consortium funds research aimed at reducing the threat of future pandemics
2023-09-14
The Aegis Consortium, an initiative of the University of Arizona Health Sciences, awarded approximately $650,000 in seed funding to eight pilot research projects in the areas of pandemic control, prediction or preparedness; post-acute effects of pandemics on individuals and societies; and the resilience of built and natural environments. “As we explore the challenges of pandemics such as COVID-19, we will continue to expand our investigative reach with domestic and international research teams to provide a range ...

UNIST releases generative AI utilization guide to promote smart usage of ChatGPT

UNIST releases generative AI utilization guide to promote smart usage of ChatGPT
2023-09-14
Under the leadership of UNIST Education Innovation Task Force, a comprehensive guidebook titled ‘A Guide to the Use of Generatvie AI‘ was released on July 28, 2023. This guidebook presents alternative approaches to utilize generative AI, like ChatGPT more efficiently rather than simply prohibiting their use. With a focus on teachers, researchers, and students, the 50-page guidebook provides practical examples of generative AI utilization. To gain insights into the purpose and development ...

Preventing the tissue's response to stiffness may be key to slowing the progression of breast tumors

Preventing the tissues response to stiffness may be key to slowing the progression of breast tumors
2023-09-14
Cells are capable of translating mechanical changes into biological responses. This process is known as mechanotransduction and plays a fundamental role in the progression of solid tumors, such as breast cancer. It is well-established that a common mechanical alteration in cancer progression involves tissue hardening. This stiffness is precisely what is detected during self-examinations or breast palpations for potential tumor detection. The stiffness of breast tissue triggers a chain reaction, inducing tension within cells and distorting their nuclei. Ultimately, this nuclear deformation activates genes responsible for controlling cell proliferation, which are closely associated ...

Members of the National Association of Neonatal Nurses support efforts to promote racial equity

2023-09-14
September 14, 2023 — More than 90% of the active members of the National Association of Neonatal Nurses (NANN) believe the organization should pursue racial equity work, and many have specific suggestions for a strategic plan. This feedback comes from the survey results the association released this month in its journal, Advances in Neonatal Care. The journal is published in the Lippincott portfolio by Wolters Kluwer.  "Neonatal care has advanced significantly in recent years, yet ...

Webb Confirms accuracy of universe’s expansion rate measured by Hubble, deepens mystery of Hubble constant tension

Webb Confirms accuracy of universe’s expansion rate measured by Hubble, deepens mystery of Hubble constant tension
2023-09-14
The rate at which the universe is expanding, known as the Hubble constant, is one of the fundamental parameters for understanding the evolution and ultimate fate of the cosmos. However, a persistent difference called the “Hubble Tension” is seen between the value of the constant measured with a wide range of independent distance indicators and its value predicted from the big bang afterglow. NASA’s James Webb Space Telescope provides new capabilities to scrutinize and refine some of the strongest observational evidence for this tension. Nobel Laureate Adam Riess from the Johns Hopkins University and ...

Penn Medicine’s Carl June, MD, to receive 2024 Breakthrough Prize in Life Sciences

2023-09-14
PHILADELPHIA – CAR T cell therapy pioneer Carl June, MD, the Richard W. Vague Professor in Immunotherapy in the Perelman School of Medicine at the University of Pennsylvania and director of the Center for Cellular Immunotherapies (CCI) at Penn Medicine’s Abramson Cancer Center, has been named a winner of the 2024 Breakthrough Prize in Life Sciences for the development of chimeric antigen receptor (CAR) T cell immunotherapy, a revolutionary cancer treatment approach in which each patient’s T cells are modified to target and kill their cancer cells. The invention sparked a new path in cancer care, harnessing the power of patients’ own immune systems, a once-elusive ...

New research published by Nature Food reveals food is primary driver of the EU-27’s outsized Ecological Footprint

2023-09-14
One quarter of food consumed in the EU-27 originates from outside the region, highlighting the vulnerability of the EU’s food system.  New research coordinated by Global Footprint Network’s sustainability scientists in collaboration with food system experts published the article “EU-27 Ecological Footprint was primarily driven by food consumption and exceeded regional biocapacity from 2004 to 2014” today in Nature Food. The way food is provided to and consumed by Europeans represents ...

LAST 30 PRESS RELEASES:

Mothers live longer as child mortality declines

Study reveals promising development in cancer-fighting nanotechnologies

Fat cells influence heart health in Chagas disease

C-Path’s TRxA announces its first biologics-focused RFP for academic investigators

Enhancing superconductivity of graphene-calcium superconductors

Federal Trade Commission actions on prescription drugs, 2000-2022

Fluoride exposure during pregnancy linked to increased risk of childhood neurobehavioral problems, study finds

The Ukraine war caused migrating eagles to deviate from their usual flight plan

Endangered migrating eagles impacted by Ukraine war

Study explores association between fluoride exposure in pregnancy and neurobehavioral issues in young children

Using magnetic resonance spectroscopy to design safer, higher-performance lithium batteries

Should your exercise goals be in minutes or steps? Study suggests they are equally beneficial

Racial and ethnic inequities in cancer care continuity during the COVID-19 pandemic among those with SARS-CoV-2

Effect of sleep restriction on adolescent cognition by adiposity

Webb Telescope offers first glimpse of an exoplanet’s interior

Alkyl-aromatic hybrid micelles formed from emergent umbrella-shaped molecules

First study from the African Ancestry Neuroscience Research Initiative identifies key genes in the brain that account for higher rates of some brain disorders in Black Americans

NIH awards Coast-to-Coast Consortium $5.6 million for All of Us Research Program

Ben-Gurion University scientist hunts for drug candidate to treat brain tumors

New Health Blueprint maps healthier future for rural, underserved Southwest Virginia

Survival benefit associated with participation in clinical trials of anticancer drugs

Expanding on the fundamental principles of liquid movement

Chemical Insights Research Institute partners with Duke University and the East-West Center to examine dust and ash from devastating Hawai’ian wildfires

NCCN publishes new resource for patients with intestinal cancer type most have never heard of before diagnosis

Subduction zone splay faults compound hazards of great earthquakes

Record low Antarctic sea ice ‘extremely unlikely’ without climate change

After hundreds of years, study confirms Bermuda now home to cownose rays

Scientists uncover promising treatment target for resistant brain cancer

Revolutionizing cancer treatment by intracellular protein delivery using hybrid nanotubes

Chemist Julian West makes C&EN magazine’s ‘Talented 12’ list

[Press-News.org] Growth of large operators threatens existence of grassroots coworking spaces, study warns