Business support and co-working space venture Town Square Spaces (TownSq) has marked seven years of trading with the launch of a new HQ in Ystrad Mynach,
In its busiest year yet, the company has seen its turnover climb by 50% to just under £4m while hitting profitability targets, as it reaps the reward of investment for growth.
The business has added three new spaces to its roster, including its second London space in Kingston, a historic town hall in the heart of Tunbridge Wells, as well as its new HQ and co-working space in Ystrad Mynach. It has also assisted in the launch of its first associate space with the opening of The Goldworks in Ebbw Vale in October, giving local people a workplace and support to start and grow their businesses in Blaenau Gwent.
Beyond physical space, the company has led on a number of entrepreneurial support projects, including Shared Prosperity Fund (SPF) programmes in Caerphilly, Powys and Neath Port Talbot. Alongside its work across the Ƶ, it has directly supported almost 5,000 startups, freelancers and small businesses.
TownSq also entered into its first international partnership with Dublin-based software company Baseworx, gaining an exclusive licence to utilise its flex-space management software for growth in the Ƶ. The deal will see the business add to its more service-driven offering, providing workspaces with a management tool to grow their communities.
TownSq chief executive, Gareth Jones, said “We’re delighted to see our investments into our growth start to pay off as we now see all of our sites in operation and our services businesses continue to grow.
“The broader economic context has remained uncertain, but nationwide we continue to meet inspirational founders, freelancers, and SMEs that show the power and strength of the Ƶ’s economic backbone.
“Our hope over the next period is to continue our innovation process on our services business and develop further strategic partnerships while focusing on our overall profitability to ensure we can continue to push and drive positive impact for our communities.”
