Over the last few years there has been an emergence of buildings offering shared work space for start-ups and John McGlynn showing his intent to push a further £50 million into such a business – doubling last year’s commitment – is testament to their potential.

In the creative communities shared working environments have been common practice for as long as there have been creative communities, but as businesses in all manner of sectors grapple with growth in an economy not exactly conducive to facilitating such a thing, the option of having somewhere flexible to work is understandably appealing.

Mr McGlynn notes the “huge demand” for space since the business really began to accelerate its plans last year, and further to that, he says it shows that on the ground, there is real optimism.

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While this is not a charitable endeavour by any means, it is a form of what could be labelled “business philanthropy”.

Mr McGlynn’s business plan may deliver a significant return on his investment over the long-term, in the short-term businesses are being given the opportunity to flourish in a space which can grow or contract with their demands.

In years gone by, as Mr McGlynn notes, a start-up would be required to commit a huge sum to something as fundamental to their business as having somewhere to put a desk and phone.

Lessening that financial burden could make the difference between a start-up making it or not. At the very least it can help keep down debt levels, allowing business owners to concentrate on progression, and ultimately that is to be welcomed.