Small business support and coworking experts Town Square Spaces Ltd (TownSq) has capped a whirlwind year with a series of new business support contracts, new spaces, a multi-million-pound partnership, an acquisition and an international deal.
In the past twelve months the business has continued to grow its turnover, increased its headcount to 34 and grown its membership to over 1,000. It’s also grown its number of Operated Spaces to nine, with a new space opening in Hereford and two new spaces set to open in Kingston and Royal Tunbridge Wells.
The company, which was named the ninth fastest-growing firm in Wales at the Fast Growth 50, has also expanded its business support offering, securing four new contracts to provide startup and small business support in Powys, Torfaen, Conwy and Caerphilly. The team also secured contracts through its new model of workspace support with its Associated Spaces programme, where it will launch, grow and facilitate spaces alongside the vendors.
Its subsidiary, Town Square Admin, completed some deals of its own, acquiring London-based Belmore Virtual Assistants, in an agreement which saw the company take on the firm’s entire client list, bolstering its own customer base by more than 30%.
TownSq has also widened its key role in the £50m Media Cymru project, where it delivers the Innovation Spaces and Creative Collective programmes, giving businesses and individuals access to specialist support, space and emerging tech.
Finally, the business looks set to make its first international partnership, as it completes the final stages of an agreement that will see it bring in technology to connect workspaces across Europe.
Chief Executive Officer (CEO), Gareth Jones said: “After such a fast-paced last few years we focused our efforts in 2023 to ensure we’re on solid footing for our next phase of growth.
“2024 is looking to be a busy one for us – we’re seeing a rise in demand for startup, entrepreneurship and freelance support as people look to embrace self-employment and generate additional revenue streams against a context of the cost of living crisis.
“We see the future as being much more service-driven, as we work with partners to create long-term change for local economic ecosystems. Through Creative Collective and our Associated Spaces, we’re developing innovative ways to drive forward and scale our mission.
“We’ve spent over a decade working on this puzzle, and feel more motivated than ever to crack it. Our nation would be better off with a TownSq in every town square, economically, socially, and environmentally. Our goal is to make that reality happen.”
