Cape Town is living up to its reputation as the "capital of innovation" when it comes to providing co-working spaces as start-ups flourish in the Mother City.
According to the City 's figures, the number of these shared spaces doubled within a year and now stands at 17.
Chairperson of the Cape Town Central City Improvement District (CCID), Rob Kane says it's a sign that Cape Town is offering more and more value to businesses, both big and small.
He points out the cost saving especially for a small business which, without the option of a co-working space, would have to commit to a long-term lease and all the accompanying costs of fitting out offices.
The increased cost per square metre is offset by the benefits of this flexibility, Kane says.
They can just come in - the furniture's there; they have use of boardrooms, meeting rooms; the kitchen and a reception.— Rob Kane, Chairperson - CCID
This working arrangement, attracting creative innovators as it often does, also has the spin-off of providing a communal space for pooling ideas and finding fresh solutions to existing problems.
Kane says this is one of the reasons the concept is taking off so fast in Cape Town.
The investment report talks about the number of innovative and high-tech businesses coming into the city and it's far and away more than in the rest of the country.— Rob Kane, Chairperson - CCID
It's those people who want an interesting environment and this is what the co-working space is providing them.— Rob Kane, Chairperson - CCID
Kane says conventional office space is utilised by a broad range of clients, with local and provincial government taking up a large portion in the city centre along with banks, big law and engineering firms.
What's attractive about that mix, is that people can often walk to their meetings.— Rob Kane, Chairperson - CCID
That's what attracts both big corporates and smaller concerns, wanting to be in this city.— Rob Kane, Chairperson - CCID
For more on the City's plans and future developments, take a listen:
This article first appeared on CapeTalk : Co-working spaces attracting big and small businesses to Cape Town