Why Glasgow's Coworking Spaces Are a Hub for Fintech

For freelancers, startups, and SMEs, a coworking space in Glasgow offers proximity to the dynamic growth found throughout the city at affordable prices. Coworking in Glasgow also provides many other business benefits, including networking opportunities, inspiring workspaces, and increased flexibility.

If you’re searching for a vibrant and supportive city to launch and grow your business, Glasgow should be at the top of your list. From attracting top talent to networking, this article will explore the benefits of renting a Glasgow coworking space.

Why businesses in fintech are coworking in Glasgow

Glasgow is home to a dynamic business ecosystem. It’s the third-largest financial centre in the UK with an industry workforce exceeding 58,000. It’s also a fast-growing economy with plenty of potential. The region’s tech sector alone has a current enterprise value of £3.4 billion, demonstrating an 89% increase in the last five years.

Shared office space in Glasgow can provide several benefits for both small and large companies. This includes cost savings, scalability, and access to excellent amenities. Coworking can also lead to more productivity, better collaboration, and improved employee well-being.

Brimming with innovation, Glasgow is a great location for new and established players in the fintech industry. When you combine this with the benefits of coworking, there are several key advantages to renting a shared working space in Glasgow.

1. Global fintech hub status

Glasgow is a major global fintech hub. With a thriving ecosystem of startups, SMEs, and large financial firms, it’s the world’s 52nd-largest financial centre.

The region ranks among the top 15 small European cities for its fintech ecosystem and growth trajectory. The city’s International Financial Services District (IFSD) has also attracted over £1 billion in investment to date.

Whether you’re looking to rent a dedicated desk, hot desk, or commit to full-time shared offices, Glasgow is a great option. It offers the opportunity to immerse yourself among established players in a globally recognised fintech hub.

2. Digital skills and talent

Businesses looking to grow by investing in emerging and established talent have plenty of prospects in Glasgow. The city has a rich talent pool across areas like software development, space technology, and engineering. As such, it’s an excellent destination for fintech innovation.

The region also has six higher education institutions, producing almost 40,000 graduates per year. Strathclyde University graduates have also produced over 50 fintech companies that generate over £80 million in annual sales. Meanwhile, the University of Glasgow ranks among the top 100 universities worldwide.

3. Established fintech cluster

Glasgow’s fintech industry is thriving. Home to industry giants like JP Morgan, Barclays, and BNP Paribas, it’s a region with a strong and growing reputation across the finance sector.

On a wider level, the Edinburgh-to-Glasgow corridor is one of the largest established fintech clusters in the UK. Recognised worldwide, it’s home to large institutions like The NatWest Group and Aberdeen Standard Life.

Major industries include wealth tech, asset management, and investment operations.

By using a shared workspace in Glasgow, businesses can capitalise on the city’s reputation as a global fintech powerhouse. It also provides excellent opportunities for networking, mentorship, and business growth.

4. Historical economic shift

Glasgow city centre has enjoyed a strong economic history overall. Built on a foundation of shipbuilding and steelworks, it was once one of the richest cities in the world.

However, as its most lucrative and prominent industries plummeted in the 1970s and 1980s, the city had to diversify.

In the 21st century, Glasgow has invested in emerging, modern, and lucrative sectors. With booming industries like fintech at its core, the city’s strategic shift has paid off. In 2021, Glasgow’s gross value added (GVA) reached £48 billion.

According to the EY Regional Economic Forecast, Glasgow will also be Scotland’s fastest-growing city over the next few years. With a predicted GVA growth rate of 1.9%, it should outperform Edinburgh and Aberdeen and match the UK’s average growth rate.

5. Thriving startup ecosystem

While Glasgow has established itself as a finance and fintech hub, it’s also a popular working environment for startups in general. Glasgow’s startup ecosystem is demonstrating steady year-on-year growth, with its industries including energy, health, travel, and robotics.

Supported by a strong network of investors as well as various incubators and accelerators, Glasgow’s thriving startup scene should continue growing for the foreseeable future.

It’s also worth noting that Glasgow is within a two-hour travel radius of several prominent business hubs. This includes major cities like London, Amsterdam, and Paris. Using shared offices in Glasgow can therefore facilitate collaboration with a wider network.

6. Affordability

Compared to other UK cities, Glasgow is very cost-effective for business. For example, Grade A office rent in Glasgow is, on average, 73% cheaper than in London. It’s also 10% less expensive than Manchester and 12% less expensive than Birmingham.

Recent reports rank Glasgow among the top 10 most affordable cities for first-time home buyers. This makes Central Glasgow and the wider Glasgow region an attractive option for emerging and established talent.

With shared office space in Glasgow, businesses can reduce costs and maintain the flexibility to scale up when required. They can also provide employees with the flexibility they need to balance their personal and professional lives.

If you’re looking to attract top talent for your business, serviced offices in Glasgow are worth exploring.

7. Strategic initiatives

Well-crafted strategies and initiatives support Glasgow’s impressive business growth. For example, the award-winning International Financial Services District is a purpose-built environment where financial and business services companies can collaborate and innovate.

The Glasgow City Region City Deal also invested £1.13 billion of public sector funds in major infrastructure projects. This will support the city’s GVA growth as well as unlock a potential £3.3 billion in private-sector investment.

In addition, companies based in Glasgow could be eligible for free support from Business Gateway. This initiative provides local businesses with practical advice, workshops, and market intelligence.

8. Growing technology investment

Glasgow is among the UK’s fastest-growing technology investment hubs. In 2020 alone, the city’s tech sector amassed £43m in venture capital investment.

According to the Glasgow Ecosystem Report 2023, startups in the region raised £170 million, an increase of 8% from the previous year. This was a significant contrast to the decline experienced in most European cities.

Basing your business in a flexible workspace in Glasgow therefore puts you at the heart of one of Europe’s most promising tech hubs.

Coworking spaces in Glasgow

As a city with a thriving economy as well as an exciting startup scene, Glasgow has plenty of coworking options to choose from.

Whether you need a hot desk for the day or several dedicated desks for a longer span, these are some of the most desirable shared offices in Glasgow.

20-23 Woodside Place

Modern, open plan, and with a variety of workspace options, 20-23 Woodside Place is excellent for West End coworking in Glasgow.

With private rooms and comfortable corners for collaboration, it’s great for startups and larger companies. The iconic Mitchell Library and Theatre is just a six-minute walk away and offers in-house support services for entrepreneurs and new businesses.

Glasgow’s IFSD is also within walking distance, making it an excellent location for fintech businesses in particular. Prominent finance companies with offices and operations in this area include JP Morgan, Morgan Stanley, and The Weir Group.

A coworking space within this neighbourhood provides ample opportunity for networking and business development.

Highlights include:

• Break-out areas
• Disabled facilities
• On-site showers

Information about 20-23 Woodside Place:

• Location: 20-23 Woodside Place, Glasgow, G3 7QL
• Starting cost: From £99 per month
• Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
• Nearby transport links: Charing Cross Bus Stop (a four-minute walk away), Granville Street Bus Stop (a five-minute walk away), and Charing Cross Train Station (an eight-minute walk away)

Kirkhaven

Within walking distance of the University of Strathclyde, Kirkhaven is great for attracting new talent.

This Glasgow coworking space has all the amenities required for workplace motivation and comfort. From ergonomic furniture to ambient lighting and break-out spaces, you’ll have everything you need for a productive work day.

Surrounded by bars, cafes, and breweries, this office is ideal for tech and creative startups. Employees can socialise and enjoy a healthy work-life balance at local establishments like the Drygate Brewery, Listen Gallery, and Coia’s Cafe and Restaurant.

Additionally, when you want to entertain clients and potential investors, you'll have numerous options.

Highlights include:

• Break-out areas
• Meeting rooms
• City centre location

Information about Kirkhaven:

• Location: Kirkhaven, 120 Sydney St, Glasgow, G31 1JF
• Starting cost: From £139 per month
• Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
• Nearby transport links: Barrack Street Bus Stop (a three-minute walk away) and Bellgrove Train Station (an eight-minute walk away)

100 West George Street

Situated in the International Financial Services District, 100 West George Street is a great location. It is well-suited to small or large businesses looking to work hard, network, and grow across a variety of industries.

This space is particularly desirable for businesses that are in or support the finance or fintech sectors.

Choose from a range of flexible options, including day coworking, membership plans, and dedicated desks for a monthly fee. For days when you need to impress new clients, you can enjoy private offices and meeting spaces with high-speed Wi-Fi.

Highlights include:

• Break-out areas
• Meeting rooms
• Elevator access

Information about 100 West George Street:

• Location: 100 West George Street, Glasgow, G2 1PP
• Starting cost: From £189 per month
• Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
• Nearby transport links: Renfield Street Bus Stop (a one-minute walk away), West George Street Bus Stop (a one-minute walk away), St Vincent Street Bus Stop (a one-minute walk away), and Queen Street Train Station (a three-minute walk away)

Tay House

Flooded with natural light and Scandinavian decor, Tay House is for people who want to be productive in comfort and style. Choose from hot desks, dedicated desks, and private office spaces for a coworking solution that works for you.

If entertaining investors is important for your business, you can take advantage of the nearby bars and restaurants.

Theatres like King’s Theatre and Scottish Opera and live music venues like Broadcast Glasgow put culture at your doorstep. It’s a great way to entice employees and potential clients.

Highlights include:

• On-site lunch restaurant
• Meeting rooms
• Break-out areas

Information about Tay House:

• Location: 300 Bath Street, Glasgow, G2 4JR
• Starting cost: From £159 per month
• Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
• Nearby transport links: Bath Street Bus Stop (a one-minute walk away), Charing Cross Train Station (a two-minute walk away), and Granville Street Bus Stop (a three-minute walk away)

1 West Regent Street

1 West Regent Street is a modern office space with a wide range of private spaces and coworking options. In the heart of Central Glasgow, this location neighbours all sorts of businesses as well as restaurants, shops, and entertainment venues.

This space is also just a three-minute walk to Buchanan Street, one of Glasgow’s most prominent shopping thoroughfares. This makes it great for new businesses across a range of industries, particularly those looking to network and entertain clients.

A short walk from several major stations, this location is ideal for those who need to travel or engage with clients and companies in other regions. It’s also within a 10-minute walk of the Airport Express bus, which provides direct and quick access to Glasgow Airport.

Highlights include:

• On-site lunch restaurant
• Meeting rooms
• Break-out areas

Information about 1 West Regent Street:

• Location: 1 West Regent Street, Glasgow, G2 1RW
• Starting cost: From £189 per month
• Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
• Nearby transport links: West George Street Bus Stop (a two-minute walk away), West Nile Street Bus Stop (a two-minute walk away), Queen Street Train Station (a four-minute walk away), and Glasgow Central Station (a nine-minute walk away)

Oxford House

The refurbished Oxford House is great for freelancers, startups, and larger businesses. The office is within a short walk of an array of public transport options. It's therefore an excellent option for commuters as well as those who meet with collaborators and clients regularly.

Located next to the River Clyde, it’s in the heart of the city’s professional services district. It’s also close to Barclays’ state-of-the-art campus. This makes it a prominent address for businesses in the finance and fintech industries.

Highlights include:

• Meeting rooms
• Break-out areas
• Major transport links

Information about Oxford House:

• Location: Oxford House, 71 Oxford St, Glasgow, G5 9EP
• Starting cost: Prices available on request
• Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
• Nearby transport links: Bridge Street Subway Station (a five-minute walk away), Commerce Street Bus Interchange (a six-minute walk away), Argyle Street Train Station (an 11-minute walk away), and Glasgow Central Train Station (a 13-minute walk away)

Orbital House

Orbital House is a great solution for businesses looking for Glasgow coworking spaces away from the hustle and bustle. Located in a business park in East Kilbride, it’s within 10 miles of Central Glasgow and accessible by public transport.

Home to several tech and finance companies, this is a great coworking space for startups and established companies alike.

It also has bicycle storage, lounge areas, and an outdoor terrace on-site. This makes it ideal for those who want to work in a productive, collaborative, and relaxed environment.

Highlights include:

• On-site sandwich and coffee bar
• Showers
• Parking

Information about Orbital House:

• Location: Orbital House, Peel Park, East Kilbride, Glasgow, G74 5PR
• Starting cost: From £189 per month
• Opening hours: 24/7 for Private Office and Dedicated Desk members, reception hours for other members
• Nearby transport links: Redwood Drive Bus Stop (a nine-minute walk away), Stewartfield Way Bus Stop (a nine-minute walk away), Peel Park Place Bus Stop (a 16-minute walk away), and Hairmyres Train Station (a 21-minute walk away)

Explore Glasgow office spaces with Regus

Whether you’re starting a new venture or looking for a low-cost office, coworking spaces offer a flexible solution. From hot desking and coworking memberships to day offices and private offices, there’s a range of tailorable options to suit your needs.

Our team of Regus specialists can help you find the best solution for your business. Explore our office locations to find your ideal working space. Alternatively, you can talk to our experts today for some guidance and personalised advice.