Co-working experts mark seventh anniversary with new Ystrad Mynach venue

Caerphilly-based TownSq has celebrated its seventh anniversary by opening a new co-working space and headquarters in Ystrad Mynach.

The new venue, on Penallta Road, opened its doors earlier this month, becoming the latest in TownSq’s growing list of co-working spaces across Wales and England.

It comes in what has been the company’s busiest year yet, where it has continued to grow its turnover by 50% to just under £4m.

The continued growth in revenue has seen the company recognised as one of the fastest-growing businesses in the UK, and it will be listed in the UK Fast Growth Index 2024 at a ceremony in London.

As well as Ystrad Mynach, TownSq has also added its second London space to its portfolio this year, as well as a new space in Tunbridge Wells.

It has also helped launch its first associate space in Ebbw Vale, giving people a workspace and start-up support, and led on a number of entrepreneurial support projects across Caerphilly, Powys, and Neath Port Talbot.

Across the UK, its work has seen it support almost 5,000 start-ups, freelancers, and small businesses in 2024.

This year has also seen TownSq enter into its first international partnership with Dublin-based software firm Baseworx.

Commenting on the company’s success, CEO and co-founder Gareth Jones said: “We’re delighted to see our investments into our growth start to pay off as we now see all of our sites in operation and our services businesses continue to grow. 

“The broader economic context has remained uncertain, but nationwide we continue to meet inspirational founders, freelancers, and SMEs that show the power and strength of the UK’s economic backbone.”

Mr Jones continued: “Our hope over the next period is to continue our innovation process on our services business and develop further strategic partnerships while focusing on our overall profitability to ensure we can continue to push and drive positive impact for our communities.”