Report: Bamboo Detroit’s Co-Working Community Generates $74M in Revenue Annually


Published:

Bamboo Detroit offers various options for co-working in the city.

Photo Courtesy: Bamboo Detroit

Co-working space Bamboo Detroit has released a report regarding shared office and workspace trends, based on a survey of approximately 100 of its 250 members.

To date, the report indicates Bamboo members have generated a combined revenue of $74 million annually. Specifically, the survey’s findings indicate that 51 percent of respondents considered themselves women-owned businesses, and that 28 percent reported making between $500,000-$2 million or more in revenue annually.

Bamboo’s companies also hire an average of four new employees per year, while 75 percent of the respondents cited a preference for hiring local talent or partnering with locally owned businesses. Additionally, 80 percent reported hiring, partnering, or referring business to a fellow Bamboo member.

Bamboo’s member companies serve the professional services, marketing and communications, technology and information technology, design and arts, real estate, food, retail and e-commerce, and education industries.  More than 75 percent of respondents reported using Bamboo as their primary office, while 25 percent use it as a satellite office.

Additionally, 60 percent of members are early state companies, combined with 40 percent classified as growing for more than three years. 

“As co-working and shared offices grow, reflecting new work styles and economies, we created this report to better understand the economic impact,” the report says. 

Edit Module
Edit Module
DBusiness Daily News
Edit Module
Edit ModuleShow Tags Edit Module
Edit Module