Impact of First Lockdown on Co-working Spaces UK Market Size

This research project aims to investigate the impact of the first lockdown in the UK on the co-working spaces UK market size in the first trimester of 2020. It focuses on WeWork and explores the importance of shared economy on co-working within the United Kingdom. The research also compares the top 3 leaders of the co-working space market in their reaction to the new social regulations implemented during the pandemic. Additionally, it evaluates the existing company structure of WeWork and its ability to adapt to the new market regulations.

Business and
Management

Table of Contents
Research Topic: An investigation to establish the impact of first lockdown in UK on the co
working spaces UK market size in the first trimester of 2020. A research project on WeWork. ...1
Chapter 1: Introduction....................................................................................................................1
Background to the study.........................................................................................................1
Problem statement .................................................................................................................1
Aim and objectives ................................................................................................................1
Rationale for selection of topic ..............................................................................................2
Research questions ................................................................................................................2
Research Limitation ...............................................................................................................2
Chapter 2: Literature Review ..........................................................................................................2
To investigate about the impact of the first lockdown in UK, in the first trimester of 2020, on
the co-working spaces UK market size..................................................................................2
To explore the importance of shared economy on co-working within United Kingdom.......3
To have a comparison between the top 3 leaders of coworking space market regarding the
reaction to the new social regulations implemented in order to fight against the pandemic
during the first trimester of 2020. ..........................................................................................3
To evaluate about the existing company structure of WeWork along with assess its ability for
adapting to the new market regulations..................................................................................4
Chapter 3: Research methodology ..................................................................................................4
Chapter 4: Findings and Results .....................................................................................................6
Chapter 5: Conclusion and Recommendation .................................................................................6
REFERENCES ...............................................................................................................................7

Research Topic: An investigation to establish the impact of first lockdown in
UK on the co working spaces UK market size in the first trimester of 2020.
A research project on WeWork.
Chapter 1: Introduction
Background to the study
WeWork is a well known American commercial real estate company that is dealing in
providing flexible shared workspaces at global level for various enterprises working in the field
of technology start-ups and services providing.
Problem statement
WeWork company is associated with designing and building virtual and physical shared
spaces and office services for different companies and entrepreneurs at a company place. Thus,
the recent global pandemic of COVID-19 that brigs many new social pandemic regulations
regarding the workplace spacing and social distancing leads to many issues and changes for
WeWork company. Thus, the problem statement of current research project is based on analysis
of the key impacts and changes lead out by new social pandemic regulations on the expansion
strategy and existing company structure of WeWork.
Aim and objectives
Aim
The aim of current investigation is, “To identifying the impact of the first Lockdown in
UK and the significance of shared economy over co-working ”. A research project on WeWork.
Research Objectives
 To investigate about the impact of the first lock down in UK, in the first trimester of
2020, on the co-working spaces UK market size
 To explore the importance of shared economy on co-working within United Kingdom.
 To have a comparison between the top 3 leaders of coworking space market regarding the
reaction to the new social regulations implemented in order to fight against the pandemic
during the first trimester of 2020.
 To evaluate about the existing company structure of WeWork along with assessing its
ability for adapting the new market regulations.
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Rationale for selection of topic
Research questions
 What Possible impact of the first lockdown in UK, in the first trimester of 2020 is seen on
the co-working spaces UK market size?
 What importance is lead out by shared economy on co-working within United Kingdom?
 How the top 3 leaders of coworking space market had reacted to the new social
regulations implemented in order to fight against the pandemic during the first trimester
of 2020?
 How is the existing company structure of WeWork is changed due to the new social
regulations along with assess its ability for adapting to the new market regulations?
Research Limitation
The main limitation that would be faced while conducting and leading out current
investigation is related with lack of sufficient time and resources. Along with this meeting the
ethical consideration and maintaining the authenticity and viability of collected data is also a key
limitation that would be faced by researcher during current study.
Chapter 2: Literature Review
To investigate about the impact of the first lockdown in UK, in the first trimester of 2020, on the
co-working spaces UK market size
As per the view point of Irene Manzini Ceinar and Ilaria Mariotti, 2020, the current
pandemic of COVID-19 has changed and altered the way of working through leading a change in
attitude of government and citizens worldwide that is affecting all business sector. Now, it
become vital and essential for all organisation to respect and maintain the norms related with
social distancing with the view point to have control and minimize the chance of transmission of
virus. Thus, an analysis can be made out that an adverse impact of COVID -19 and locakdown is
seen on the co-working spaces UK market size during the first trimester the main reason behind
which is the fact that maximum number of employees has started adopting the traditional form of
working and work in the office to work at home through smart or remote working. Thus,a se
back is seen for the business of Co-working during the first trimester in UK. The co-working is
comprising a creative and innovative form of working where specific flexible short-term offers
make co-working spaces attractive where many interested persons comprises of permanent
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employees, freelancers, etc opt to work in a more better and creative workplace along with the
travellers or incumbent firms that rent office or conference space.
To explore the importance of shared economy on co-working within United Kingdom
As per the view point of Abdar, M. and Yen, N.Y., 2020, the concept of shared economy
is important and vital as it tend to make every day life more affordable and efficient by the way
of an extensive and well-distributed participation related with the supply side of the sharing
economy which tends to keep prices fair. Further, an analysis can be made out that shared
economy is also important and significant for the co-working within UK as it eliminates the need
for people to own all of their possessions and thus, provides a larger target customers for co-
working firms where a larger sum of candidates can work together on more flexible and
affordable manner.
To have a comparison between the top 3 leaders of coworking space market regarding the
reaction to the new social regulations implemented in order to fight against the pandemic
during the first trimester of 2020.
The top three leaders of co-working comprises of WeWork, Innov8 and Red Bricks the
leaders of which has implemented many strategies to cope up with and maintain the balance with
new social regulations implemented in order to fight against the pandemic during the first
trimester of 2020. According to the information provided by the Fiorentino, S., 2019.the main
points and emphasis of new regulations which was implemented to fight and control the current
pandemic of COVID-19 comprises of provisions of related with social distancing and
maintaining proper hygiene and sanitisation at workplace. Thus, the various steps were taken by
the leaders of co-working firms to control and avoid the risk of COVID-19 along with setting
balance with new social regulations implemented in order to fight against the pandemic during
the first trimester of 2020 comprises of effectively assessing the all possible people exposure and
risks in order to fulfil and meet all possible geographical risks, health and safety impact, globally
mobile employee implications, customer impact along with maintaining proper social distancing
and hygiene system at workplace. Further, the another vital step that has been taken by the co-
worker leaders comprises of assembling all the comprehensive information regarding all current
globally mobile employees and travelers in transit so that extra care and some better care can be
provided to them at workplace to control the spread of COVID-19.
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To evaluate about the existing company structure of WeWork along with assess its ability for
adapting to the new market regulations
With respect to the information provided by Kojo, I. and Nenonen, S., 2016.,it has been
analysed that the Coworking spaces and structure of a firm based on an arrangement in which
workers of different companies share an office space, allowing cost savings and convenience
through the use of common infrastructure. The existing company culture of Wework comprises
of a combination of creative and useful equipment, utilities, and receptionist and custodial
services, and in some cases refreshments and parcel acceptance services to provide a most easy
and flexible set of working space for employees. But now, as because of COVID-19 and new
regulation set out to control spread of corona virus many new ability and changes are tend to
adapt by these firms which comprises of setting provisions for social distancing. Further,
effective training is also provided to workers to maintain proper hygiene and sanitisation at
workplace along with making new provision for providing flexible working arrangement after
proper medical check ups and set precaution.
Chapter 3: Research methodology
This forms out to be the one of most important and vital section of any investigation that
provides information about the ways that research is indented to use to achieve the set objectives.
Use of research onion model has been made for current investigation to achieve set objectives in
a viable manner through facilitating proper reasons and justification of selection of applied
research method and approach.
Research Philosophy- There are four common set and form of research philosophy
comprises of positivism, realism, interpretivism and pragmatism research philosophy. From
these philosophies, use of positivism is seemed for suitable for current investigation on WeWork
as it facilitates and leads to more systematic and practical way of study.
Research approach- Deductive and inductive are two common form of research approach
from which utilisation of deductive approach is more appropriate for current investigation on
WeWork as it ensures support to positivistic philosophy along with better testing and scanning of
numeric facts.
Choices of method- From qualitative and quantitative nature of research method out of
which qualitative is associated with theoretical information and quantitative is linked with
numeric facts, utilisation of quantitative research method is seemed more justifiable. The reason
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and justification behind making use of quantitative nature of research method for current study
on WeWork is based on the fact that it facilitates and ensures an easy and time efficient way of
data collection along with facilitating more effective and better presentation of facts through
making use of graphs and charts for better analysis and interpretation of facts.
Data collection- With respect to current study on WeWork company use of both primary
and secondary sources of data would be made as primary data is vital to have authentic and first
had data collection where as secondary data is needed and required to provide base and
framework for study with the help of past facts. Collection of primary data would be made with
the help of questionnaire as research tool while secondary data would be gathered from the
online modes of literature available in form of articles and journal.
Sample Size- With the help of random sampling method a sample size of 30 participants
have been selected for current investigation from the employees and management working at
WeWork company.
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Chapter 4: Findings and Results
Chapter 5: Conclusion and Recommendation
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REFERENCES
Books and journal
Kojo, I. and Nenonen, S., 2016. Typologies for co-working spaces in Finland–what and
how?. Facilities.
Fiorentino, S., 2019. Different typologies of ‘co-working spaces’ and the contemporary
dynamics of local economic development in Rome. European Planning Studies, 27(9),
pp.1768-1790.
Billett, S. and Noble, C., 2017. Individuals’ mediation of learning professional practice: Co-
working and learning to prescribe. In Agency at Work (pp. 205-227). Springer, Cham.
Chen, H.L., Chang, C.Y. and Hsu, W.T., 2017. Does Board Co-Working Experience Influence
Directors’ Decisions Toward Internationalization?. Management International
Review, 57(1), pp.65-92.
Abdar, M. and Yen, N.Y., 2020. Analysis of user preference and expectation on shared economy
platform: An examination of correlation between points of interest on
Airbnb. Computers in Human Behavior, 107, p.105730.
Adepoju, O.D.D., Oluwasina, D. and Awah, N.M.M., 2020. Social Skepticism and Its Effect on
Shared Economy. In Africa's Platforms and the Evolving Sharing Economy (pp. 163-
181). IGI Global.
Online:
Coronavirus impact: Co-working space companies take cover . 2020.
. [Online] Available Through:<
https://economictimes.indiatimes.com/industry/services/property-/-cstruction/
coronavirus-impact-co-working-space-companies-take-cover/articleshow/74127355.cms?
from=mdr>.
Irene Manzini Ceinar and Ilaria Mariotti, 2020 .The Effects of Covid-19 on Coworking Spaces:
Patterns and Future Trends
. [Online] Available
Through:<https://www.researchgate.net/publication/342814996_The_Effects_of_Covid
-19_on_Coworking_Spaces_Patterns_and_Future_Trends >.
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