Maidenhead based MyWorkspot has secured a £280,000 expansion loan from the Thames Valley Berkshire Funding Escalator. The funding has helped the company to fit out and launch their new site in Maidenhead town centre, which was opened by Rt. Hons Theresa May on Friday 14th October.
MyWorkspot provides coworking, office space and meeting rooms and has been in operation in Maidenhead since 2017. They provide flexible workspaces with over 100 established local businesses, start-ups, and corporate businesses currently active as residents and members. Their clients range from start-ups to employees of global brands including Rack Space, Lexis Nexis, Google, and Microsoft.
Whilst COVID-19 has undoubtedly proved challenging for many businesses, it has had a dramatic impact on the way people work. Flexibility is seen as standard and the increase in hybrid and remote working has caused a rise in demand for MyWorkspot’s spaces.
Will Ballantyne, Co-Founder at MyWorkspot, said, “We are a ready-made community for solopreneurs and freelancers, providing a supportive network as well as high quality workspaces. Our new office on York Road is spread over three floors and can offer drop-in spaces, hybrid working options or a permanent private office space. This funding will support the fit-out phase of our development and ensure all needs are met to exacting standards. Maidenhead based businesses deserve the best and we aim to give it to them.”
Brett Chowns, Investment Manager at The FSE Group added, “MyWorkspot offers an all-in-one cost approach which covers rent, rates, utilities, internet, furniture, additional events and even coffee. In short, they look after the office so their residents can concentrate on growing their business. This level of care mixed with a supportive community is of huge benefit to SMEs in Maidenhead and we are delighted to be helping MyWorkspot on the next stage in their growth journey.”
Alison Webster, Chief Executive of the Berkshire LEP added, “We’re delighted that MyWorkspot is responding to the changes brought about by the pandemic and delivering this high-quality flexible office space to meet the needs of local businesses both now and in the future. By focusing on funding opportunities for local growth and inward investment, the Berkshire LEP is helping businesses like MyWorkspot to deliver the right environment for businesses to grow and create more high-quality jobs in Berkshire.”
Thames Valley Berkshire Funding Escalator is an £11.3m initiative funded by the Berkshire LEP. The Escalator includes an Expansion Loan Scheme, a Trade Finance Loan Scheme and a Growth Equity Fund, providing eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities across Berkshire.