It’s that time of year, when Business Link Magazine invites the region’s business leaders to offer up their predictions for the year ahead.
It has become something of a tradition, given that we’ve been doing this now for over 30 years.
Here we speak to Ann Bhatti, head of Connect Derby.
2022 was another challenging year, with the fluctuating economy and the cost of living crisis hitting businesses hard. It was also a year when we started to see the lessening impact of the pandemic and the gradual return to the workplace.
I believe the novelty of home and remote working will start to wear off in 2023, with more businesses planning to get staff back into the workplace. Over the course of last year, more and more Connect Derby tenants returned to their offices, not just because they felt safe to do so, but because they wanted to get back to a physical office environment where they could connect and collaborate with colleagues.
I predict the demand for smaller serviced offices will start to increase as those larger organisations that have adopted a hybrid working model will no longer need 2,000 sq. ft – 3,000 sq. ft and can operate with around 500 sq. ft – 1,000 sq. ft instead.
I believe our sector will continue to thrive in the next 12 months, largely as a result of Covid. The pandemic made many business owners establish a better work-life balance and they no longer want to spend time managing their offices. Serviced offices, and especially furnished offices, are proving more desirable to entrepreneurs as all services are managed for them.
Live events started to make a comeback back in 2022 and I predict there will be a sharp rise in 2023. Face-to-face business networking events will become more prominent, as life starts to resemble collaboration and B2B engagement levels pre-pandemic.
In 2023, the cost of living crisis and increase in utility costs are set to have a significant impact on how businesses view their workspaces.
Financial discipline will be crucial for businesses as prices continue to rise. Businesses will need to adapt their services and workforce to make the best use of office spaces as well as operational delivery models.
