The start-up market in UK is blooming despite a lack of office space as demand for serviced offices in the UK has surged by 24.3% when compared to last year.
Start-ups are reportedly looking for office space outside London, including Liverpool and Manchester, where rents are significantly lower than London.
According to Office Genie, Liverpool leads the race with a 44.5% increase in demand for office space, followed by Manchester with a 43% increase.
Office Genie head of strategy Peter Ames said: "For years we have anticipated that the London business landscape will reach boiling point, and that demand will significantly outstrip supply.
"With the data showing more and more small businesses unable to cope with the inflated costs of the capital, and looking further afield for office space, perhaps we are now reaching this point of saturation."
W1 Office, a virtual office space solution provider said that it offers solution which allows individuals and businesses to use business credentials in London by giving them W1 postcode and a 020 phone number even if they work from outside London.
W1 Office spokesperson said: "It’s great news that the UK’s start-up market is continuing to grow.
"The prices of rent in London are generally prohibitive for smaller companies, but this doesn’t mean that start-ups can’t benefit from the clout that comes with a London postcode or telephone number."
