Flexible workspace proptech platform essensys saw revenue up 19% year on year in the six months prior to January 2020. Now, the serviced office and coworking sector have been struggling in the midst of the coronavirus pandemic as companies and governments are telling non-essential workers to work from home.
Mark Furness, CEO of essensys, said the company is doing well financially despite the issues going on in the world and that the flexible office industry will be able to weather this health crisis.
“Our clients’ plans remain the same and they see [coronavirus] as a short-term impact,” said Furness. “In my mind, this is a temporary situation and on the other side of this we’re well positioned to grow.”
Following the end of the pandemic, Furness believes the industry will thrive as businesses come to terms with the fact that long-term leases are burdensome.
“We’re completely debt-free and we’re growing and we’re well positioned for the future growth of the industry,” said Furness.
Still, in the short term, it could become challenging to open some of the new locations in essensys’s pipeline as governments in the UK and US have issued or enforced non-essential workers to work from home.