A new business described as a first-of-its-kind online marketplace that connects businesses and individuals searching for workspace with companies looking to monetise their extra capacity has been launched in the Scottish capital.

Founded by Callum McPherson, 29, Occupyd caters to a number of industries across the UK including hospitality, hairdressing and beauty salons, as well as workshops, photography studios and event spaces.

An example of how it works would be where a cafe that closes its doors at 3pm each day can advertise its kitchen space on Occupyd for small businesses or entrepreneurs who cater to the evening market.

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This provides out-of-hours income for the owner and cuts down the financial responsibility for the occupant, the founder said.

Mr McPherson added that his aim is to make physical space more accessible and less burdensome for businesses regardless of sector, size or location.

HeraldScotland:

He said: “A large number of organisations have been affected by the on-going pandemic, which has had a huge impact on their bottom-line.

"We’re driven to make life a little easier by facilitating relationships between businesses on the hunt for workspace, and those that have extra capacity, so they can help each other out and continue to grow.”

He added: “We talk about the ‘hidden market’ - something which is already there, but people are unaware of.

"Monetising after-hours capacity, which would otherwise be empty, or renting out supplementary workspace could be a goldmine for some companies.

"Many of us are sitting on something valuable, we just don’t know it.”