The Triad's Business Revolution: How Co-Working Spaces are Changing the Game

Business Boom in the Triad

Business is booming across the Triad, transforming the commercial landscape in numerous ways. According to the North Carolina Department of Commerce, there has been a 41% increase in new business applications from 2020 to 2023. This surge is part of a broader trend, distinct from the pandemic-driven growth seen nationally.

The Rise of Co-Working Spaces

The Triad is also witnessing a rise in co-working office spaces. These rentable spaces allow individuals and teams to work together, breaking down the barriers of needing large office spaces. Many co-working spaces offer additional services like IT and administrative support, making it easier for startups to thrive.

Kim and Tony Lancaster, seasoned entrepreneurs, opened Venture-X in Greensboro after years in education. They are passionate about helping new businesses grow in their space and the region. Kim notes, “People are able to meet and engage with others, discovering how their businesses can support one another.”

Tony adds that co-working spaces make entrepreneurship more accessible, stating, “Sometimes that leap is a little unattainable for a business.” Co-working allows individuals to share resources and amenities, alleviating the isolation of working from home.

Big Corporations Joining the Trend

Interestingly, it’s not just startups benefiting. The Lancasters have observed an increasing number of big-box corporations opting to rent co-working spaces instead of maintaining large offices, signaling a shift in how businesses operate in the Triad.

Next time you explore your neighborhood, keep an eye out for these innovative co-working spaces—they might be just around the corner!