Millennials are the UK’s largest living generation, and retaining or attracting millennials (young people born between 1980 -2000) is an issue that is immensely important to Wolverhampton’s business community. The Gen-Y city project has indicated that the presence of young people in the city is a direct reflection of the city’s health and well-being, as young professionals are essential to fueling economic growth and urban revitalisation.
SPARK business incubation manager Louise Hunter, recently visited Bologna, to gain insights on the contribution of co-working spaces on economic growth.
Bologna is a city currently working within the URBACT Gen-Y framework, and part of its key objectives is to create jobs for its young residents and to regenerate its fragile communities. The city’s officials and policy makers are currently doing this through the provision of sustainable and affordable living spaces, as well as working with young entrepreneurs to co-design attractive co-working spaces, and public areas. See above Guasto Village, which was a crime zone but has now been regenerated into a green area with small food outlets operating in containers, this allows these small enterprises to be mobile and move to different locations around the city.
The co-working business model has proven to be a success in many cities around the world; it is a business model which offers flexibility to small enterprises as well as providing an all comprising platform that brings together innovative minds from the science technology engineering and arts sectors. This inclusive nature is what makes co-working spaces the future of the young Wolverhampton workforce, and the key to creating happier, more satisfied Gen-Y led enterprises.