Coworking by the numbers
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19-Oct-2014 -
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Transcript of Coworking by the numbers
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COWORKING BY THE NUMBERS
Steve King Emergent Research
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AGENDA:
• NUMBERS • DRIVERS • OUTLOOK
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0
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2006 2008 2010 2012 2013
Number of Global Coworking Spaces (narrow coworking space definition)
Sources: DeskMag, Emergent Research
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20000
40000
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100000
120000
140000
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2006 2008 2010 2012 2013
Number of Global Coworking Space Members (narrow coworking space definition)
Sources: DeskMag, Emergent Research
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2008 2013
Number of Seed/Startup Accelerators (U.S)
Sources: European Seed Accelerator Ecosystem; Accelerating Startups – The Seed Accelerator Phenomenon
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2008 2013
Number of Business Incubators (U.S.)
Source: National Business Incubation Association
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1000
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2008 2013
Number of Office Business Centers (U.S.)
Source: Global Workspace Association
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0 20 40 60 80
100 120 140 160 180 200
2008 2013
Number of Makerspaces (U.S.)
Source: Make Magazine
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2008 2013
Number of Shared Commercial Kitchens (U.S., membership based)
Source: Culinary Incubator
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2008 2013
Number of Shared Biolabs (U.S., membership based)
Source: Emergent Research
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• Volatility • Uncertainty • Complexity • Ambiguity
• Agility • Flexibility • Avoid Fixed Costs • Collaboration
• Technology • Globalization • Economic Shifts
It’s a Turbulent World
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0
500000
1000000
1500000
2000000
2500000
1998 2012
Microsoft Apple Google
Revenue Per Employee
The Rise of the Extended Workforce and the Connected Economy
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• Larger firms building platforms and ecosystems to attract partners
• Smaller firms and solopreneurs specializing, finding niches and developing their own networks and ecosystems
• Growing ecosystems of companies and technologies enabling cross firm collaboration and the use of expanded supply chains
Platforms, Ecosystems and Networks
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20
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100
Growth in Employer and Single Person Firms Percentage Change – 1992 to 2012
Single Person
Less Than 500 Employees
500 to 10,000 Employees
10,000+ Employees
90%
21% 15%
50%
Source: Small Business Administration
Barbell Industrial Structures
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21
21.5
22
22.5
23
2001 2011 0
2
4
6
8
1991 2001 2011
Avg. Number of Employees New Businesses
Avg. Number of Employees Small Business Sector
Source: BLS Monthly Labor Review March 2012
Small Businesses Also Moving to the Extended Workforce and the Connected Economy
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Independent Workers Too
In 2012, U.S. Independent Workers:
• Spent $96 billion hiring the equivalent of 2.3 million FT workers via contract hiring
• Spent $150 billion in non-payroll and overhead expenses
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Networking Key to Connected Economy Success
Factor % 8,9,10 Mean Score
Professional/technical expertise in field of work
92% 9.24
Personal Attributes 90% 9.09
Networking skills 59% 7.30
IT skills 48% 6.82
Admin skills 40% 6.2
Sales/Marketing 37% 5.78
Successful Solopreneurs Key Success Factors
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Networking = Sales in the Connected Economy
Successful Solopreneurs How They Get Work
Factor % 4,5 Mean Score
Word of Mouth 82% 4.24
Former Employer 47% 2.8
Staffing Agency/Broker 15% 1.38
Online Job Marketplace 12% 1.33
Social Media 6% .78
Advertising 3% .57
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Coworking: The Next 5 Years
• Trends and Shifts Favor Coworking • Social • Demographic • Economic • Technology
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Coworking: The Next 5 Years
• Challenges • Awareness • Value Proposition • Substitutes • Competition • Business model
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2013 2014 2015 2016 2017 2018
Coworking Facility Forecast
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2013 2014 2015 2016 2017 2018
Coworking Member Forecast
200k
400k
600k
800k
1000k
Number of
Members
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QUESTIONS