Five ways small businesses benefit Bristol

I’ve always known that Bristol is a fantastic place to do business and now it’s official. The city has been ranked as one of the top places in the UK to launch a new business and it has been reported that the University of Bristol has produced some of the highest paid CEOs in the world.

I’m currently managing the £8 million redevelopment of 40 Berkeley Square which is set to open as Origin Workspace, a 42,000 sq ft business hub next to Bristol’s Clifton Triangle. With over 400 desks, it aims to attract freelancers, remote workers, entrepreneurs, startups and scaleup businesses to work in a contemporary workspace where they can share ideas, insights and opportunities for collaboration and growth. I love working with micro, small and scaling businesses and here are five benefits they bring to our local economy.

1. Jobs boost

Small businesses are the backbone of the UK economy and provide some 60% of all private sector employment in the UK. They create local jobs for local people fuelling regional economic growth and developing opportunities for working more flexibly and achieving a better work/life balance. With companies like Bristol’s Hydrock ranking in the top 40 of this year’s Sunday Times 100 Best Companies to work for, Bristol is the place to be for growing businesses aiming to make it big.

2. Local community wins

Small businesses by their very nature are an essential part of our local community, producing products and/or services that benefit everyone. They also typically source the support services they need right on their doorstep such as local contractors, accountants, printers, caterers, etc. keeping money in the local area and further boosting the local economy.

3. Stimulating innovation

As seedbeds for innovation, small businesses challenge the status quo and bring fresh ideas that inspire and delight consumers, encourage competition and fuel revenue growth. Smaller, nimbler and more flexible than their big business counterparts, start-up and scale-up businesses are fleeter of foot. They don’t have to report to or seek approval from unwieldy management boards and are able to make key decisions quickly, bringing their ideas to market faster.

4. Better customer service

Small businesses are well-placed to develop meaningful, personal relationships with customers, employees and suppliers, that create a happier, healthier, better place to live and work. In many small businesses, people know who they are dealing with - they can 'put a face' to the person they are in contact with which ultimately leads to happier customers, staff and suppliers.

5. Improving the environment

Small businesses have a huge advantage of being able to work flexibly and there is no better place to be than in a co-working office space in the city centre, sharing offices with likeminded entrepreneurs and growing businesses. The environmental benefits are huge, offering better options for walking, cycling or using public transport to get to work. At Origin Workspace we’re determined to focus on health and wellbeing and being kinder to the planet. Our Berkeley Square base is close to public transport links and we’re busy building a gym, studio and roof terrace to encourage people to be as active as possible during the working day.

Bristol is dynamic, vibrant, diverse and an excellent place to do business. Encouraging more entrepreneurs to start-up and support small businesses to flourish will benefit the local economy, create jobs, stimulate innovation, elevate customer service and create a better place to live and work. We are excited to be launching Origin Workspace in early 2019 and to play our part in the future success of this amazing city.