6 coworking: Norwich

Norwich boasts an impressive pool of highly-educated workforce. The coworking spaces in Norwich are filled with graduates and young entrepreneurs who are enthusiastic about running their own projects or working as digital nomads. Flexible and shared office space has a range of benefits, especially for small companies, freelancers and startupers. Coworkings are some sort of professional hubs - the perfect place to meet like-minded experts, collaborate and share ideas. It is cost-effective in the short run as well as flexible. Tenants can rent on an hourly, daily and monthly basis. The number of workspaces is flexible too. So if you need to invite a new team member or a specific expert for a couple of days - you can easily adjust your tenancy agreement. Moreover, it works backwards too, so you can cut back on rent whenever you need.

Typically for a city, Norwich has a service-driven economy. Retail, banking and financing, insurance, hospitality and tourism are the most prominent branches when talking about the local economy. Health & life science is another sector that is small in its share of the business base but important to the local area because of the high-value jobs it supports. Creative digital is a growing key sector and has some overlap with the business and financial services sector. This sector receives large shares of the talent pool from the two universities in the city. Enthusiastic graduates often unite to create a startup, work on a project, etc. The coworking spaces in Norwich create the best hubs for digital startups and freshly-established companies. The business startup rate has improved over the past five years but is lower than the rate nationally. Overall, the economy in Norwich has great potential and is hungry for new companies, especially in the digital sector.

With an urban population of 200 thousand residents, the city of Norwich also receives up to 85 thousand people, who come to work in the city. The Norwich Travel to Work Area (TTWA) takes in Norwich, Broadland and South Norfolk local authorities plus parts of the local authority areas of North Norfolk, Breckland and Mid-Suffolk. Throughout history, Norwich attracted new residents, who came looking for better work and life opportunities, which made it the second most-populated city in the country. Strong industrial potential and lucrative location were the city’s key to success. Nowadays, Norwich has a reputation of a typical University town and a forward-looking location in terms of quality of life, sustainable energy and economic sectors.