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Coworking Freelance Office Space

4 Reasons Why Coworking Works For Your Business

4 Reasons Why Coworking Works For Your Business

Fisheries coworking space
The Fisheries, available to book on HotPatch.com

Businesses over the last year have had the opportunity to take a moment of introspection, and a key takeaway is that most companies could be making a greater effort to actively support their workers in making their space work for them.

One simple way this could be done is the potential of ditching the old tradition of leasing permanent office space year after year, in favour of flexible coworks that can fit around employee’s lives and locations.

Here are HotPatch’s top 4 reasons why startups should hire a coworking space.

#1 Easy on the Budget

Permanent office space can be incredibly pricey. But big businesses have historically stuck with them; perhaps largely out of fear that the alternative of WFH or renting coworks would lead to demotivation in staff or a lack of productivity. What 2020 taught us is that assumption is far from the truth.

The market for coworks remains competitive, and the growth in this industry has led to lower overall prices. Hiring a coworking space can offer a cheaper alternative, perfect for a lean startup company.

#2 Communication & Networking

Zoom and Microsoft Teams proved that communication is possible at any distance, but also that miscommunication is possible at any distance too. Internet lag, and bad Wi-Fi has been a contributing factor to frustrations in the workplace at home.

“The danger of miscommunication with fully-remote working is higher, and companies have realized how important it is to have meetings, brainstorming sessions, and social events actually in-person.” — TechRound

While there are some benefits to remote working from home or working in a traditional office, an in-between is proving favourable to a lot of companies. Providing a space where employees want to spend time and be creative, whilst maintaining regular physical interaction is a healthy solution to either extreme.

Coworking spaces bring together like-minded people, and can provide an excellent opportunity to meet individuals from across a range of industries.

You may meet eventual clients, partners, investors, suppliers, or simply have the chance to trade tips and tricks learned from your own unique business experiences. Many coworking spaces offer exclusive events for this very purpose. Who knows who you might meet in one of our Patches.

Coworking space

#3 Attract the Best

Your business is obviously seeking the top talent out there. But now the top talent has realized they have a choice between a company that allows them to work anywhere, and one that will keep them commuting to an office in an awkward and potentially far-out location.

Allowing your employees to choose their own coworking locations, or having a private office in a coworking space, may very well be the tipping point for talent in choosing your company over a business with more stubborn office space practices.

“HotPatch makes it incredibly easy and simple to be able to do things physically and feel connected to my team in person, after living fully digital!” — Natasha, modelme, London

#4 Flexibility

A standard office lease can be hundreds of pages, whereas coworking agreements are often only 3 to 4 pages. Deciding upon an office space for the next 15 years can be an unnerving prospect with the implicit uncertainty in the world of business. Coworking spaces allow you and your company to be more agile in the way you work. Flexibility is also key when it comes to what you need, maybe you just need a meeting room to hire in London for the day? Maybe it’s hiring a coworking space for a week? Or maybe you just really to rent a desk nearby. Freedom to choose always wins.

It also means you can scale easier within a single cowork, renting only the hot-desks you need when you need them.

Different businesses

A coworking or a hybrid coworking model may very well be the future for a lot of businesses, big or small.

Coworks are affordable, can improve communication and agility, plus they provide opportunities for networking and retaining talent, and may just be the secret sauce in taking your startup to new heights.

If you’re looking for space, HotPatch has the Patches you need.

Check us out at HotPatch.com

Reach out to us online or on our social media channels:

Instagram: @HotPatch_ | Twitter: @HotPatch_ | Linkedin: HotPatch

Categories
Barber Hair & Beauty Make-up

Roadmap released: Beauty businesses in England could be open by 12 April

Roadmap released: Beauty businesses in England could be open by 12 April

Today the Prime Minister, Boris Johnson, will set out the government’s roadmap for cautiously easing lockdown restrictions in England. Beauty businesses are tentatively set to re-open by April 12.

The roadmap outlines four steps for easing restrictions. Before proceeding to the next step, the government will examine the data to assess the impact of previous easements. This assessment will be based on four tests which are that:

  • The vaccine deployment programme continues successfully.
  • Evidence shows vaccines are sufficiently effective in reducing hospitalisations and deaths in those vaccinated.
  • Infection rates do not risk a surge in hospitalisations which would put unsustainable pressure on the NHS.
  • Our assessment of the risks is not fundamentally changed by new Variants of Concern.

The four tests are currently being met so the first step will proceed from 8 March, at which point the top four priority cohorts for vaccinations will have received a degree of immunity, three weeks after being offered their first dose.

Dates outlined for each stage are as follows:

  • 8 March — public and children from all schools can safely return to face-to-face teaching. Families and childcare bubbles encouraged to be tested regularly, outdoor socialising with one person also permitted
  • 29 March — up to a maximum of six people or two households can meet outside. Outdoor sports facilities can reopen

12 April — Shops, hairdressers, beauty and nail salons, gyms and outdoor hospitality can reopen.

  • 17 May — ‘rule of six’ abolished outdoors and replaced by maximum gatherings of 30 people. Two households can meet indoors, and cinemas, performances and sporting events can restart — including up to 10,000 fans in largest stadiums
  • 21 June — all measures potentially end with nightclubs reopened and live events to resume.

For more info please see here: https://www.gov.uk/

Reach out to us online or on our social media channels:

Instagram: @HotPatch_ | Twitter: @HotPatch_ | Linkedin: HotPatch

Categories
Finance Freelance Wellness

HotPatch Guide to Business Support During Lockdown

HotPatch Guide to Business Support During Lockdown

Lockdown is a real challenge to any business. A range of schemes have been introduced by the government to support and protect jobs and businesses from collapse. HotPatch has taken a look the schemes available to businesses unable to operate fully due to this lockdown.

The Bounce Back Loan

The scheme helps small and medium-sized businesses to borrow between £2,000 and £50,000, and up to 25% of their turnover. The government also guarantees 100% of the loan with no fees or interest to pay for the first 12 months. After 12 months the interest rate will be 2.5% a year.

Businesses that have already accessed the Bounce Back Loan, but have not borrowed their maximum amount, can now apply to top-up their existing loan, but can only do so once.

At present, the deadline for applying for a new BBL is the end of March 2021.

Self-Employment Income Support Scheme (SEISS)

This scheme provides equivalent support to the self-employed as is provided to employees through the government contribution in the CJRS Furlough Scheme. Currently, the SEISS has been increased to meet 80% of trading profits covering November 2020 to January 2021 and from February 2021 to April 2021 for all parts of the UK.

The grant is calculated based on 80% of 3 months’ average trading profits, paid out in a single instalment and capped at £7,500. The details of the grant for the February to April period is yet to be announced.

All up to date information, including eligibility criteria and the window to claim, as well as being able to make your application, can be found on the gov.uk website.

The Coronavirus Business Interruption Loan Scheme (CBILS)

This scheme was created to help small and medium-sized businesses to access loans and other kinds of finance, up to £5 million.

The government guarantees 80% of the finance to the lender and pays interest and any fees for the first 12 months.

National Lockdown Business Support Grant

You may be eligible for a monthly grant up to £3,000 if your business was forced to close.

There are also additional grants for nightclubs, dance halls, and other entertainment venues up to £1,500 for each 14-day period the business is closed.

If we move back into a tier system soon, there is also a local lockdown business support grant.

Business Rates Relief

If your business is in the retail, hospitality and leisure sectors in England, you won’t have to pay business rates for the 2020–2021 tax year. This applies to:

Shops

Restaurants, cafés, bars, pubs

Cinemas, live music venues

Assembly or leisure properties, like sports clubs, gyms, spas

Hospitality properties, like hotels, guest houses, self-catering accommodation

Coronavirus Job Retention Scheme (CJRS)

This well known, and well-utilised scheme provides 80% of employees’ monthly salary covered for hours not worked, up to a maximum of £2,500.

Employers will have the flexibility to use the scheme for employees for any amount of time or shift pattern, furloughing employees on either a full-time or part-time basis. And employers only have to cover National Insurance and employer pension contributions.

The CJRS was originally due to close on 31st October 2020 but has now been extended until 30th April 2021.

Refund of Statutory Sick Pay

SMEs with fewer than 250 employees as of 28 February 2020 will get a full refund from the government on 14 days of statutory sick pay per employee off sick with Covid-19. Any sickness you claim for needs to have started on or after 13 March 2020.

The Next Steps for Your Business

It is worth noting that the information provided is for businesses in England. Different support is available for businesses in Scotland, Wales and Northern Ireland.

We will be providing more helpful information in the coming weeks, including how to engage with customers and top tips for working from home.

Keep up to date with the latest financial support that the government is offering to support your businesses through this Covid-19 lockdown. The gov.uk resources are the best place to look.

Keep safe. HotPatch.

Reach out to us online or on our social media channels:

Instagram: @HotPatch_ | Twitter: @HotPatch_ | Linkedin: HotPatch