entrepreneurship

Business is booming across the Triad and it’s transforming the commercial landscape in so many ways.The North Carolina Department of Commerce says from 2020 to 2023 they saw a 41% increase in new business applications.But the department says while there was a surge in new businesses across the country during the pandemic, this continued boom is separate and being seen here in the state now.But the area is also seeing a surge of another kind. The rise in a completely new way to work co-working office spaces.And entrepreneurs are saying that both surges are an interesting trend that could prove the Triad is not only good for business, but is changing how it’s done. Co-working office spaces, are rentable office spaces that people can work out of by themselves or with a team.For many startups they knock down the barrier to entry of needing to purchase huge office spaces, allowing them to collaborate with others. Some even provide other services like IT and administrative support.Kim and Tony Lancaster are entrepreneurs who after years of owning a school, decided to open their own co-working space, Venture-X, in Greensboro.They say as career entrepreneurs, they have loved making their business, helping new businesses grow, both in their space and in the region.”People are able to meet, and engage with other folks. And they are surprised, ‘Oh you do this, you do that. That can help me, that can help my business. How do you do it. Who do you work with, Kim said.Tony says they have noticed that their space helps make entrepreneurship a little more attainable for some.”Sometimes that leap is a little unattainable for a business. So then you are forcing a person to work from home. Or not have the amenities that they need. So with co-working they can come in a share, the amenities and the co-working space, Tony said.But whats even more interesting is these startups arent the only ones benefiting from the space.The Lancasters say they have seen more big-box corporations ditching *their* big office buildings, and renting from them as they set down roots in the Triad.So as these trends continue to play out, next time you wander around your newly developed area in the neighborhood, look out for these spaces, because they might not be too far away.