From Survival Mode to Recovery: How Will Your Space Adapt to the ‘New Normal’?
As the COVID-19 crisis began to take its toll on London’s workspace ecosystem earlier this year, many shared workspaces and co-working spaces across the city were severely compromised and forced into survival mode. As lockdown restrictions ease, and London’s industries begin to recover from the crisis, we want to offer guidance and support to London’s workspace providers as they adapt safely and effectively to the ‘new normal’. Webinar topics include:
- Guidance on handling talks with your Local Authority
- Advice on how to navigate rent negotiations with your landlord
- Support innovating new ways of working
- Tips on managing client membership fees going forward
- Insight on how to host events safely and effectively
We believe that collaboration within our community is essential, as we tackle these challenges head on, side by side, which is why our panel includes expertise from workspace providers themselves who will offer anecdotal insight into their experience handling the above issues. Receive guidance from our speakers:
- Naima Omasta-Milsom, Executive Director of London Business Partnership
- Kellie Dingain, Property & Rating Administration Manager at Gerald Eve LLP
- Steve Hile, Partner at Gerald Eve LLP – specialising in Business Rates
- Malcolm Hull, Partner at Gerald Eve LLP
- Richard Robinson, Partner at Gerald Eve LLP
- Tom Previte, Head of Operations / MD at Launch22
Shared Workspace Support Programme
London is home to over one million SMEs, including micro-businesses that account for 99.8% of businesses and nearly half the capital’s jobs. These SMEs contain much of London’s future innovation, enterprise and growth. For micro and small enterprises, the top three costs they face are rent, rates and staff.
There will be a number of workspace providers, in particular, incubators, accelerators, co working spaces, artist’s studios, and makerspaces who are now facing uncertain futures, financial difficulties and possible closure, as a result of COVID-19, which already had a significant impact on the workspace environment.
They need to make their spaces open and able to work for all Londoners. However, for workspaces to remain financially viable must be able to manage their costs.
This financial challenge remains as a result of:
- accessing business rates relief
- the impending 2021 commercial property revaluation exercise
- short term and medium term impact of COVID-19
Past research has shown that there continues to be a lack of understanding about:
- Business rates: what are they and how are they calculated?
- The eligibility for business rates relief and how to apply for it (as there is no consistent approach across all the local authorities).
Understanding Business Rates and Business Rates Relief schemes
This new initiative, supported by the Greater London Authority and the London Growth Hub, seeks to address this by:
- Helping further bridge the knowledge gap in terms of workspace providers, across London, understanding of business rates and business rates reliefs
- Highlighting the current COVID-19 schemes linked to business rates relief relevant to workspace providers
- What the post-COVID-19 environment could be like for workspace providers?
How will we do this?
- London Business Partnership Limited in partnership with GeraldEve, industry expert, will be hosting this short webinar. You can also book 1:1 advice.
What is involved?
- A short interactive presentation explaining about business rates and all the current business rates relief schemes, followed by a Q&A session
There will also be the opportunity to book a 1:1 advisory session with GeraldEve to discuss your own specific circumstances at a later date.