The Business Exchange Archives - Page 3 of 5

Coworking in a time of Covid-19

By TBE Africa | March 17, 2020 | News The Business Exchange

We are a resilient nation with a leader who has taken the necessary and urgent steps to help safeguard our lives and our businesses. As South Africans, we understand what it takes to operate under difficult economic conditions, but we will fight this new battle and overcome all the obstacles we face in very the near future.

The Business Exchange TBE is helping combat this threat by instituting internal policies and procedures for all TBE staff and tenants. Here is an overview of what we are doing and how we can assist businesses in this time of need.

There is currently significant panic across the world thanks to the rapid spread of COVID-19, known more commonly as coronavirus.

As many countries take drastic steps in an attempt to reduce the impact, a number of companies have also put an array of meaningful practices in place to help employees stay ahead of the virus, avoid infection and to prevent contamination of the work space.

While there is a case to be made for working remotely, combined with self-isolation for anyone who feels ill, many companies are concerned that members of their team who work from home will struggle without access to all the resources necessary for them to optimally do their jobs. In addition, some industries just don’t lend themselves to remote working. Perhaps then, the solution is to separate the workforce and distribute them among coworking spaces.

Allow me to be clear that I take the health and wellness of The Business Exchange’s (TBE) tenants very seriously. There have been over 150 000 cases worldwide, and we are doing everything we can to ensure that our coworking spaces are clean, sanitised and that tenants are equipped with all the necessary information to keep themselves safe. Our offices are cellular and not open-plan, so the spaces also allow for isolated working where necessary.

During this time, coworking spaces are available to employers who want to separate their teams and minimise the risk of the spread of any virus among members. The majority of coworking spaces are closed offices dedicated to separate companies and work teams so there is a lower risk of cross-infection.

At TBE we have distributed, and will continue to circulate emails and notices detailing hygiene and other tips. Below are some of the things that we have implemented at TBE (that can also be used in other spaces as well as in the home):

1. There are hand sanitizer machines at all entrances as well as other access points within our office spaces that everyone can make use of when entering the offices and during the day when required.

2. Additional regular cleaning of all communal areas is being carried out, while we advise anyone with private offices to take extra care and precautions.

3. If someone is identified as being ill, they will be asked to seek medical assistance.

4. Those who have returned to South Africa since 1 March 2020 are asked to self-isolate for 14 days.

There are also a number of precautions that everyone can take. This is based on the advice of the World Health Organisation (WHO):

1. Wash your hands regularly with soap and water.

2. Maintain social distancing at least 1 metre (3 feet) from anyone who is coughing or sneezing.

3. Avoid touching your eyes, nose, and mouth if you have not washed your hands.

4. Practise respiratory hygiene, use your hands as cover if you sneeze or cough.

5. If you have a fever, cough or difficulty breathing seek medical care.

6. Take extra precautions if you have any underlying health issues.

As a final piece of advice, continue to monitor the situation and make decisions upon the advice of the NICD and WHO). It is my hope that the virus will be under control sooner, rather than later.

David Seinker is the Founder and Chief Executive of The Business Exchange

(Also published in IOL Online)

3 Lessons For Entrepreneurs In 2020

By TBE Africa | February 1, 2020 | The Business Exchange

January 2020 – David Seinker, CEO and founder of co-working space company, The Business Exchange (TBE), firmly believes that the challenges presented by a tough business year in 2019 are opportunities for young business professionals to develop confidence and resilience.

Using the co-working space as an example, these are three lessons that Seinker believes entrepreneurs can use to their advantage.

Bigger doesn’t mean that you will do better

The USA-based corporate giant WeWork entered the South African market earlier in 2019 and used aggressive marketing tactics aimed at tearing away a significant share of the shared office space market from current operators in the country. But then, WeWork foundered spectacularly.

According to Seinker, there are several lessons to be learnt from WeWork’s failure; the first relates to client loyalty: “When WeWork first arrived, it shook things up, but at the end of the day we didn’t lose a single client, because our tenants see the value in our business model and value proposition.”

The second lesson has to do with having a firm vision of how to attract business, steadily growing your company and having a team that shares and works towards that vision: “In the five years we’ve been in operation, we signed up our biggest corporate clients during 2019, companies that already have relationships overseas with competitor companies that operate both here and abroad. “We just found that they preferred not only our physical offering – but our personalised approach in terms of how our staff handle their relationships with our clients.”

Thirdly, it was a big company that failed. “I’m sure I can speak for all the other operators in South Africa, with whom we share a rather friendly competitive environment when I say that we were all initially quite nervous about WeWork. However, they were the ones that took the big knock this year. Not the smaller companies.”

Look for opportunities in challenging times

Seinker believes that when an economy is doing well, and business is thriving, opportunities are much harder to come by than in a challenging market environment such as 2019 was.

“When you’re going through a hard time in the market, entrepreneurs and investors alike get nervous. However, this nervousness can bring opportunities to more easily find businesses in which to invest. For TBE, for example, the possibility of securing new property deals on far more favourable terms has been much better than what we experienced five years ago.

It also encourages out-of-the-box thinking and forces entrepreneurs to look for new opportunities further afield and even beyond borders.

For Seinker, this meant looking at expansion into other African countries, with TBE opening offices in Mauritius in 2019 and selling out its entire floor space in just six months. The company is now looking at opening office space in other African countries, including Kenya, Ghana and Nigeria.

“These countries also have business communities looking for space to work from, but without huge overheads on the one side, and an oversupply of long-term office space on the other. Flexibility is key to businesses surviving in tough times and initiatives such as co-working spaces perform very well in providing this flexibility.”

The more you listen, the more you learn

Challenging market conditions provide the perfect opportunity for entrepreneurs to review the smaller opportunities that they wouldn’t usually consider when business is going well, and also to look for unique ways to cut costs.

“Suddenly, you’re analysing costs that you wouldn’t be analysing in healthy market, and you can learn a great deal through that process, so that when things turn upwards again, you’ve made your business so much more resilient and, in turn, more valuable through what you’ve learnt during the hard times,” says Seinker.

Seinker also believes this is the perfect time to listen to your mentors: “The more you listen to people who have been through good and bad times, the better entrepreneur you will become and the more successful you will be.”

In short, Seinker says that you should never stop learning – no matter how long you have been in business.

What does the future of co-workings hold?

By TBE Africa | December 9, 2019 | Blog The Business Exchange

Why WeWork fell so hard and so fast, and what this means for the future of co-working space. David Seinker, CEO and founder of The Business Exchange, believes that WeWork stalled for two reasons. To find out what he had to say read this article here.

Small Office Space To Rent – Choose Your TBE Office Space

By TBE Africa | November 12, 2019 | Blog The Business Exchange

TBE Offers Small Office Space to Rent

November 2019 – Small businesses form the backbone of an economy. This understanding allows The Business Exchange (TBE) to help smaller companies establish themselves in a world where they often battle to negotiate the same benefits as larger companies, particularly when it comes to office space.

“It becomes highly problematic for small businesses in early growth stages to find themselves caught in a lengthy lease or situated in the wrong location,” says David Seinker, CEO of The Business Exchange. “We recognise the real struggles that entrepreneurs face and in line with this, offer them easily-scalable office space with a highly flexible lease.”

Benefits of Renting Small Office Space at TBE

Tenants taking up small office space rentals at one of The Business Exchange’s prestigious locations are afforded the same benefits as tenants who lease larger offices. Some of these benefits of fully-furnished office space at The Business Exchange include;

An up-market reception area and welcome lounge for guests
Professionally-trained reception staff
A personalised telephone line routing
On-site Management support
Full IT infrastructure with high-speed fibre optic connectivity
Postal and courier services
Centralised document hubs
Generator back-up power
Water, electricity, heating and air-conditioning
Daily office cleaning
Secure office access and parking

Even if your company only needs a small office space to rent, you and your employees will enjoy free business networking events, on-site meeting rooms to rent, complimentary refreshments, coffee bars, private whiskey rooms and on-site gyms.

TBE offers all sizes of workspaces for professionals who are serious about getting their business done. TBE’s highly trained support staff live by a set of strict values and take the time to understand their tenants’ needs – no matter the size of their office space.

These fully-serviced private and shared office spaces are cost-effective and accommodate companies with a staff complement from 1 up to 100-strong.

By creating an inspirational workspace which exudes collaborative energy, TBE enables its tenants to foster business relationships with each other that inspire success.

Whatever size office space you are looking to rent, even if it is merely a virtual business address, TBE has the right workspace option for you.

Contact rent@tbeafrica.com for further information.

The Business Exchange Q&A

By TBE Africa | September 17, 2019 | The Business Exchange

The rise of co-working and what the future holds

The co-working space trend is growing at a phenomenal rate. Entrepreneurs are the key tenants of these spaces, but there has been a steady increase in larger, established businesses taking up desks within these spaces. We sat down with David Seinker, founder and CEO of The Business Exchange, to discuss the co-working market, its current trends and what the future of co-working could look like.

1. How can local players, such as The Business Exchange, keep themselves relevant when a big international player enters the market and tempts local entrepreneurs to switch to them?

In order to grow, entrepreneurs need to be in a business ecosystem that feeds into their passions. They need to be surrounded by like-minded people who have similar levels of ambition and drive if they want to get real business deals done. At The Business Exchange (TBE), we strive towards fostering good business relationships and providing real support to entrepreneurs who are members here. We are not a space that focuses on being funky or playful. We find these types of spaces to be disruptive and often lead to entrepreneurs falling short of their business goals.

2. How, in your opinion, has the co-working space matured over the past few years?

Most coworking companies have continued to focus on offering the freelancer a fun working environment, with free beer, cocktails and yoga classes. Only a select few have matured by offering more tangible real value, like a premium hospitality service or ones focused on business growth and, as a result offer networking sessions, business advice seminars and more.

3. Where do you think some co-working spaces are falling short in their offerings?

The big players are not focused on smaller companies and their actual business needs. They are eager to lease big properties and then fill them up as quickly as possible with as many people as possible. This creates a very noisy, distracting and cramped working environment, and this is why we are seeing a migration of businesses coming to companies such as TBE, where they prefer a more personalised and exclusive offering and an environment that is organised, professional and sophisticated office space.

4. Why, in your opinion, has the co-working space market grown so much in recent times?

Cost-cutting and flexibility will always be the main drivers in our industry. However, with so much competition in this day-and-age, people have woken up to the fact that the more you network and surround yourself around other businesses the greater the chance you have of succeeding. This is why the industry will continue to grow and, soon enough, where about 50% of office space will be co-working.

5. Co-working spaces are now becoming popular even among big companies and corporations. Why do you think this is?

Ten years ago, companies were fitting out their offices to allow for 20m2 per person, whereas today this has more than halved because wasted space equals higher costs. Companies now understand they can save up to 70% of their lease costs by choosing co-working spaces over traditional leases and this has created a surge in demand from big corporates. We recently signed up Expedia.com. They placed 50 of their staff at our Rosebank location. We purposefully fitted out and furnished the space for them, according to their requests, and they can now enjoy a fully serviced offering at TBE.

6. Is there room in the market for the level of competition and supply that’s available?

i.e. is it sustainable?

No, and I believe there will be a lot of consolidation in our sector. With WeWork’s mass market approach, many of the smaller operators are going to feel the pinch, and some already have. The problem is they are all positioned exactly the same, with the same offerings of free beer and free coffee. There is only so much beer and coffee one can drink in a day and, ultimately, businesses need to focus on what really matters, getting business deals done.

7. Where are you enjoying your most growth and why do you think that is?

We are growing across the continent, with five new locations currently under negotiation. Mauritius was successfully launched recently, where we are already at 70% occupancy. I attribute the success of this to the market being closely aligned to our design philosophy and market positioning. We are also at great levels of occupancy in South Africa, whereas others are struggling due to significantly increased competition.

8. What would you say your key to success is, as TBE?

We give our tenants an upmarket, personalised and exclusive offering and we are a brand all about business. To explain, we help our tenants grow, by offering regular events centred around sales, marketing and fundraising. We have a relationship with The Big Small Business Show, which is aired on Business Day TV, and through which TBE tenants are interviewed for TV and by extension invaluable exposure. TBE’s in-house marketing team creates marketing videos for our tenants, posts across our social media platforms, and we have investment pitching evenings to angel investors. These are a few of the ways we assist our clients in helping them grow their businesses.

9. What would you say is TBE’s signature?

Our art for sure. We have a world-renowned collection of artworks exhibited throughout all of our buildings. Research by Exeter University’s School of Psychology in the UK found that people who work in spaces that are decorated with art or plants are 17% more productive than

those who work in spaces that are bare and functional. Art provides a talking point within a room, affects the mood of a space and can reduce stress. As a result, we continue to partner with recognised local artists as well as up-and-coming artists. Currently, TBE has a number of high value art on its walls. This includes pieces from critically acclaimed artists such as Conrad Botes, William Kentridge, Kim Lieberman, and Willem Boshoff, as well as other artists from all over the world

10. How does TBE compare with its global peers?

We are unique, even on the global stage. I have visited the top co-working spaces, from London to Hong Kong, and the TBE value proposition is not easily found. However, it is even more exciting that we have the opportunity to be the leader in the African continent. By lead, I do not mean by total square meterage or “bums in seats”. We want to be the leader at creating real business growth for our clients.

Marjorie Ndesi, GM at The Business Exchange Youth At Work Interview

By TBE Africa | December 3, 2018 | News The Business Exchange

Meet Marjorie Ndesi, GM at The Business Exchange. Take a look into her career path and journey whilst growing from employee no 1 to General Manager during her time at TBE.

5 Quick Tips About Shared Workspace

By TBE Africa | September 5, 2018 | The Business Exchange

September 2018 – So, you’ve decided to take up a coworking space in a beautiful office and you arrive prepared, with your laptop in tow and surrounded by an air of expectation. As you step over the threshold into your new open workspace you suddenly ponder what the unwritten law of etiquette is in the workspace.

In one of our previous articles, we discussed how “The Workspace You Occupy Creates A Unique Culture” . Practising effective etiquette in a shared workspace is another aspect of creating a unique office culture, which can significantly contribute towards business success.

Courteous relationships in the workspace depend on a couple of factors, of which we have found these to be the most important;

Tone It Down

Whether it’s your ringtone or tone of voice, it’s important to consider others in your workspace. Speaking in a loud voice other colleagues or on the phone is a no-no in an open office. It’s also in very bad taste to air your personal issues over the phone. Rather find a quiet corner or a small, private meeting room to conduct a conversation where emotional issues are involved. Another very annoying factor in an open office can be ringtones that imitate insects chirping, machinery grinding or F1 racing cars going around the track, driving your office colleagues insane! If you have a radio on your desk, remember that not everyone has your excellent taste in music, so adjust the volume accordingly!

Clean Up, Wipe Down

Nobody likes working in a mess, whether it’s in the kitchen or the office. If you make a mess – clean it up out of respect for other people who have to use the same facilities.

Scents-ational Odours

Strange body odours which creep up on you from a colleague who may have a hygiene issue are not the only annoyance factors in the workspace. Some people tend to enjoy their spray-on fragrances so much that they can’t wait to share it with everyone at work. They liberally drench themselves in their favourite perfume, and this applies to both men and women. Those with ultra-sensitive olfactory organs balk at the smells of warmed fish, broccoli or mass-produced curried noodles wafting through the office first thing in the morning.

Private-I

Coworking workspace is an excellent opportunity for networking with other business professionals, but the trick is to get the balance right. Too much chatting and you can interfere with someone else’s hectic schedule. Privacy in an open workspace should be valued just as much as networking.

The Work Space That’s Mine!

On signing up for your flexible coworking space, you will be allocated your own workspace as well as being able to share other open-plan offices and facilities. Ensure that you understand the unspoken boundaries of personal workspace and don’t utilise anyone else’s paid office space. A great idea to own your workspace is to tastefully personalise it, but without bringing in a carnival-type vibe. You can read more about owning your workspace in one of our previous articles “How To Share A Coworking Office Like A Boss!“

In short, be considerate in everything you say and do in an open workspace – and hopefully, your colleagues will reciprocate.

The Business Exchange is fast-becoming the leading choice for shared office space in Sandton, Morningside and Rivonia due to a value for money, shared professional business services and a range of business networking events.

Renting shared office space with us will give you access to meeting rooms, cutting-edge technology, on-site assistants, furnished offices, and a wide range of business support services.

Call us on +27 (11) 589 9020 or visit our website to learn more about our shared office space solutions.

Are You Looking for Affordable Office Space in Sandton?

By TBE Africa | July 11, 2018 | Office Space The Business Exchange

July 2018 – Office space in Johannesburg, according to the JJL Q1 2018 Johannesburg Office Market Report, continues to be the preferred choice for many corporates and small businesses, with the Sandton, Rosebank, and Waterfall nodes respectively accounting for 37%, 27% and 25% of the city’s development pipeline.

Affordable Approach to Rent Workspace and Offices

The Business Exchange’s unique workspace model is good news for corporates and small businesses who are concerned about the costs of renting an office in the prestigious areas of Sandton, Rosebank, or Morningside. Whereas A-Grade office space in Sandton currently attracts rentals of between R220 and R242 per square meter, The Business Exchange utilises a unique all-inclusive pricing model, where tenants are charged for workspace per person instead of per square meter.

Virtual Office Space rentals from R500 per month
Coworking Office Space rentals from R2,000 per month
Private Office Space rentals from R9,500 per month

Benefits of Renting Office Space in Johannesburg

Whether you are looking for workspace for yourself or your entire company, this all-inclusive offering at each of our properties located in Sandton, Rosebank and Morningside, allows each tenant to enjoy a range of benefits, depending on your selected office rental:

Own landline number
Professional reception and switchboard answering service
Dedicated, on-site Manager
High-speed, fibre optic Wi-Fi with IT Technician services
Fully furnished office space
Centralised documentation hubs
Free use of events spaces
Fully equipped meeting rooms
On-site coffee shops and cafes
Gyms with showers
Access to monthly networking events
Access to TBE App
Biometric access and secure parking
Rates, air-conditioning, water and lights included

Our high-quality office spaces, which are environmentally friendly, efficient and modern in design, offer you a flexibility that is not found in traditional office space leases.

Workspace That Helps Your Business Grow

The Business Exchange takes a personal interest in assisting you to grow your business through a variety of endeavours such as being part of a like-minded professional community, having the opportunity to create your own culture and many valuable networking opportunities.

Our monthly networking events host professional, successful speakers and business people alike, who impart valuable knowledge to our community of tenants in order to encourage and mentor them to business success.

Please make contact with us to find out how you can become part of our dynamic community and for an opportunity to take your business to the next level.

BOOK A VIEWING

Contact us to setup a meeting with one of our office managers, view our offices and to secure your office space at The Business Exchange.

Why Coworking Offices Are Great for Your Business

By TBE Africa | May 17, 2018 | The Business Exchange

May 2018 – A coworking office is an environment where self-employed entrepreneurs, or people with different employers, work in a casual, yet professional, community-like atmosphere. Most coworking spaces include shared office amenities, meeting rooms, casual lounges and on-site restaurants or cafes. Some even include private offices and the added benefit of business networking events, with costs based on the frequency of use and packaged as monthly or long-term memberships.

Coworking Is on The Rise – Latest Report

The Global Coworking Forecast Report released in December 2017 by Small Business Labs, a company that tracks and forecasts trends and shifts which may impact the future of small businesses, projected a continued and rapid growth within the coworking office space industry over the next 5 years.

The report provided context from a series of both US and international coworking conferences for a global perspective on this industry and its future.

It was forecast that the number of global coworking spaces would grow from 14,411 in 2017 to just over 30,000 by 2022, which indicates an average annual growth rate of 16.1%. The number of coworking members is expected to grow from 1.74 million in 2017 to 5.1 million in 2022.

China is expected to become the world’s largest coworking market by 2022, shortly followed by India. Other regions identified for rapid coworking growth include parts of Africa, South and Central America, Eastern Europe and Russia.

Why Is Coworking So Popular?

The popularity of fully-furnished and serviced coworking office spaces can be attributed to several factors which include; the improved flexibility of lease structuring and office space designs, lower office operational costs as well as extensive networking opportunities to help tenants to gain more business exposure.

Office Space in Sandton – The Showentell Story

Showentell, a coworking tenant-based at The Business Exchange, is an example of how sharing a coworking office can stimulate a company’s economy. Mpumelelo Dube, Creative Director for Showentell, discussed the journey that his company took from its initial humble beginnings, when they first operated out of a small house. “We needed to interact with our clients as a business and started looking for office space to rent,” said Dube. “We liked the corporate clientele associated with The Business Exchange and through their value-add services, especially the networking opportunities, they helped us elevate our business. We have doubled our revenue since we have taken tenancy at The Business Exchange.”

Office Space in Rosebank – The Command Quality Story

Andrew Loots, of technology company Command Quality, also appreciates the value-adds that The Business Exchange offers. “There is a lack of skilled resources in our industry and it is very difficult to find competent people,” said Loots. “We chose The Business Exchange because it enabled us to network and we ended up partnering with recruitment companies for our talent acquisition. We also found that The Business Exchange provided a far more flexible and competitive offering. Its offices are in great locations too – close to major shopping malls with easy access to transportation.”

Loots also added that The Business Exchange community is diverse, consisting of both small and large companies which enjoy a high degree of collaboration with each other. “Nowadays, business is about collaborating to become more competitive at what you do,” he said.

Category: The Business Exchange