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2021 SORCI REPORT REVEALS SOLUTIONS FOR U.S. RESIDENTIAL BUILDERS TO AVOID PREDICTED DOWNTURN IN 2022

Association of Professional Builders

While builders in the United States have seen record increases in revenue and net profit with homeowners seeking to improve their living environments because of the COVID-19 pandemic, 2022 predictions for the residential home building industry aren’t quite as positive. These findings were unveiled in the recent 2021 State of Residential Construction Industry (SORCI) report, which is sponsored by the Association of Professional Builders (APB), a leading business coaching service for custom home builders. “There has been a boom in residential home construction and renovation largely due to the effects of the pandemic,” says Erik Cofield, an Executive Business Coach with APB based in Houston. “However, this unprecedented demand isn’t sustainable and savvy builders will need to think more like accountants. Our new research reveals that custom home builders could be heading for challenging times in 2022.” More than 1,000 builders globally participated in the survey to provide deeper insights into the residential construction industry. Data from the report revealed that 2020 was a bumper year with 46.5% of respondents globally signing more contracts than in 2019; and 50% more in the U.S. market report signing more contracts in 2020 than 2019. However, after signing a record number of fixed-price contracts, the report also found that many are not prepared for the ensuing squeeze on margins caused by the rise in material pricing and other factors. “We’re urging professional builders to plan for the long term so they’ll be able to weather the predicted downturn in 2022,” says Russ Stephens, APB co-founder and business strategy specialist. “This report truly highlights the current pain points for U.S. builders, and shows where they need to focus their efforts to at least meet industry benchmarks and compete to be the best in the industry.” This concern stems from the survey, which shows that more than 55% of the builders in the U.S. never calculate their work in progress accounting adjustment, indicating that they are at significant risk of growing too quickly because they don’t understand their true financial position. Thus, they are likely to pay higher taxes and experience severe cash flow challenges, particularly when sales begin to slow down. Nearly two-thirds of respondents had no formal sales process in place, and the vast majority (78.8%) had no succession plan to future-proof their business should the unthinkable happen. With these findings in mind, it’s no surprise builders have identified systemizing their business as one of the top priorities for 2021. Other findings include: 80% of the U.S.-based home builders don’t charge for quotes; vs. 56.4% in Australia, 79.1% in Canada, 57.5% in New Zealand and 90% in the United Kingdom; 80% of the U.S.-based home builders do not have a business plan covering the next three years, vs. 69% in Australia, 75% in Canada and 57% in New Zealand; 37% of the U.S.-based home builders want to systemize their businesses; vs 36.1% in Australia, 41% in Canada, 45% in New Zealand and 60% in the United Kingdom. The comprehensive report also dives into trends in sales, contracts, social media, marketing and advertising within the industry. Data from the report also covered insights from residential builders for lead generation, team building, project management, planning, owner’s remuneration, financials and self-development. To find out more about the state of the residential construction industry, a copy of the report can be purchased at https://info.apbbuilders.com/sorci. APB’S WORK IN THE INDUSTRY APB has worked with thousands of builders, coaching residential building companies to systemize their business, including Jason Burgess of Burgess Homes based in Central Massachusetts. “The biggest reason I was looking for APB is that I was doing a lot of smaller renovation jobs. I wanted to grow the business and focus on new construction homes, which is what I truly enjoy,” Burgess said. “Before I was with APB, my average project size was probably around $40,000 and since implementing the content from APB, I’m seeing jobs averaging around $400,000. So, it’s been a tenfold increase for me.” You can read more about Jason’s business growth success story as well as others here: https://associationofprofessionalbuilders.com/success-stories/. ABOUT ASSOCIATION OF PROFESSIONAL BUILDERS The Association of Professional Builders is a leading business coaching service for custom home builders in the United States of America, Australia, New Zealand, and Canada. It provides tested and proven systems for builders to scale and succeed, based on data, experience, and results. Contact Details Anne Shanahan +1 310-933-6834 ashanahan@hoytorg.com Company Website https://associationofprofessionalbuilders.com/

May 27, 2021 08:15 AM Eastern Daylight Time

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British online store The Edit LDN transforms prized sneaker industry as sales soar

Stockwood Strategy

The UK’s leading online store for limited edition sneakers and high end streetwear The Edit Man London has become The Edit LDN. The name change reflects the rapidly growing female appeal for new and pre-loved sneakers and streetwear as sales grow 60% month-on-month in the last 12 months. The Edit LDN is an online consignment store that sells new and pre-loved goods from a variety of brands including Yeezy, Jordan, Louis Vuitton, Dior, Off-White, Supreme, Fear of God among others to a wide community of fashionistas, collectors and investors. Just as premium sites like Farfetch address the fashion world, The Edit LDN is the leading destination for limited edition sneakers and high end streetwear. They connect premium resellers with a highly engaged, price agnostic and eager audience. Through partnerships with styling services such as Thread.com and various concierge companies, THE EDIT LDN has expanded its community of buyers from TV and film celebrities to professional footballers and royal families around the world. Moses Rashid, founder and CEO of The Edit LDN commented: “As a brand we want to remain current and relevant to our community, our new name now fairly represents and embraces our diverse community but is true to its origins. We dropped the ‘Man’ from the name simply because the number of women buying had been steadily increasing since launch in January 2020 and passed 50% in March this year. It was the right thing to do.” The Edit LDN has established itself as a trusted source of authenticated and high quality new and pre-loved streetwear and sneakers. Their unabating focus on speed (to deliver purchased goods), customer service engagement and ensuring all goods are authenticated has been testament to the growth of the platform and community. “We set out to create a destination that opens up and levels up the opportunity for anyone wishing to own extremely limited edition goods. Essentially we make Inaccessible, accessible. Previous means to buy these goods have been riddled with issues such as sending payments to random resellers found on social media, authenticity issues when buying online and long delivery times on purchases from global marketplaces. The Edit LDN addresses all these concerns and is transforming the customer experience and industry simultaneously, added Moses ”. In 2021 (to April), The Edit LDN attracted more traffic, transactions and revenue than in their first year of trading (2020). With 60% month-on-month growth and mounting interest, the business is set to take-off. “We’re regularly selling sneakers and streetwear worth £1,500 each. Recently, we sold a Gucci TNF jacket for £9,200. It’s not only the variety of goods we offer but the speed at which we send purchases. Just last year we managed to source and sell 44 Playstation 5 games consoles to the England U21 football team within 24 hours, literally dispatching them in Ubers to their homes” said Moses. Looking ahead, Moses added: “This is a marketplace worth $6b a year globally and will grow 5x by 2030. By the end of this year, The Edit LDN will be worth £10m and given the hyper growth rate of our sales and revenues, we will 3x our valuation by the end of 2022 for sure. In meeting the needs of this rapid scaling, we will seek to raise funds this year to propel us as we launch in new markets”. The Edit LDN has its community and social conscious front of mind. They have raised funds and awareness against gun crime, mental health and sustainability issues. In 2020, the company collaborated with the artist McCrow as part of the One Less Gun campaign to create a sneaker with bullet shells from an AK-47 rifle. Working with Gary James McQueen in aid of MIND mental health charity, they raised funds with an exclusive T-shirt drop featuring the famous McQueen Vanitas skull. In owning their sustainability agenda, they turned their focus to the circular economy by selling pre-owned (or pre-loved) goods through the platform. In addition to this, they are a paperless company and only ship products using recycled packaging. “At the heart of The Edit LDN proposition is a focus on social and economic issues. These are matters that are important to us and our community, so we recognise that we’re in a super hot market right now so we want to use our platform to make a long lasting impact where possible” concluded Moses. About The Edit LDN Founded in 2020, The Edit LDN has quickly become the UK’s leading online consignment store for limited edition sneakers and high end streetwear, both new and pre-loved items. Their innovative platform connects premium resellers to a global audience offering a deluxe experience from discovery, packaging and delivery. Brands include Jordan, Yeezy, Louis Vuitton, Dior, Off-White, Supreme, Fear of God among others. The platform is fast becoming synonymous with speed of service, authenticity, diverse selection of secure payment methods, and first class customer service. The Edit LDN is the leading destination for resellers and their premium sneakers and streetwear. Through partnerships with styling services such as Thread.com and various concierge companies, The Edit LDN has a community of buyers celebrities to professional footballers and royal families around the world. Contact Details The Edit LDN Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.theeditldn.com/

May 27, 2021 05:00 AM Eastern Daylight Time

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Osmo Announces New Retail Partnership: Families Traveling Through U.S. Airports Memorial Day Weekend Can Purchase Osmo’s STEAM Products at InMotion Stores

Osmo

According to parents, kids love playing Osmo at school, at home, and even while they are on vacation. To reach families with school-aged kids (3-10 years) who love to shop while traveling, award-winning STEAM brand Osmo announces a new exclusive partnership with the country’s largest airport-based electronics retailer, InMotion, plus its sister venues iStore and Soundbalance, which offer cutting-edge and diverse premium electronics for tech-savvy business and leisure travelers. Starting May 29, 2021, four of Osmo’s best-selling kits will be available for purchase at InMotion, Soundbalance and iStore airport and resort locations across the country. “We’re thrilled to be launching our best-selling STEM/STEAM kits for iPad at so many InMotion locations across the country, during one of the busiest and most anticipated travel holidays, and this pivotal reopening time,” says Richard Ryan, Senior Director of U.S. Omnichannel Sales at Osmo. “Today’s parents feel that traveling with technology is a must, even for their kids, who are looking for the best products and entertainment to use while on the road. And, with tablet technology being easier to operate while in flight, kids can easily play with Osmo’s engaging array of learning games.” “The travel industry’s resilience is clear, and we are ready for the pent up demand for travel. The toy industry is experiencing a 16% increase over last year and InMotion is intent on delivering gaming technology to all ages. Osmo is the ideal kids’ system for engagement and happiness while traveling and we’re elated to introduce our exclusive partnership to the traveling consumers. Families are traveling more as virtual education is more readily available. Families look to toys to help keep their children engaged, active, and delighted,” says Eden Goldberg, Divisional Vice President of Marketing and Business Development at InMotion Entertainment Group, LLC. Almost half of the retail locations will feature Osmo’s STEAM kits stacked in floor displays, while over half of the locations will showcase a powered display with video, interactive display, and all four Osmo kits. Orlando, Detroit and New York City/LaGuardia airport locations will soon offer interactive displays that allow families to sit and test out products, while shopping. The four Osmo products currently offered by InMotion, Soundbalance and iStore, are: Little Genius Starter Kit for iPad (retail $79) Genius Starter Kit for iPad (retail $99) Creative Starter Kit for iPad (retail $69) Coding Starter Kit for iPad (retail $99) InMotion, Soundbalance, and iStore airport locations currently carrying Osmo include: Atlanta, Austin, Boston, Charlotte, Dallas, Detroit, Ft. Lauderdale, Miami, Newark, Orlando, Philadelphia, Phoenix, Pittsburgh, Sacramento, Salt Lake City, Seattle, San Diego, San Francisco, Windsor Locks (CT), Baltimore, Washington D.C./Dulles, Washington D.C./Reagan, and New York City/LaGuardia. InMotion casino locations carrying Osmo include: Forum Shops at Caesar’s Palace, Las Vegas. About InMotion InMotion Entertainment Group is the largest airport-based electronics retailer with more than 120 locations throughout the United States. Together with Marshall Retail Group, InMotion is a part of world-renowned retailer WH Smith. InMotion operates in 44 of the top performing U.S. airports as InMotion, Soundbalance, Headphone Hub, and iStore. With access and insight into the latest technologies for business and leisure travelers, InMotion offers lifestyle products and electronics that include a wide breadth of headphones, mobile power, Bluetooth speakers and travel accessories. InMotion has been the recipient of numerous industry awards that include recognition by Airport Experience News for "Best Specialty Retailer" and "Best Concessions, Highest Regard for Customer Service" for four years running. It has been acknowledged by USA Today as one of the "10 Best" Airport Concession Stores nationwide. InMotion Entertainment Group also remains the only airport retailer to appear in the two industry indexes: Dealerscope's Top 101 Consumer Electronics Retailer List for nine consecutive years, along with ranking in the Top 50 of Twice Magazine's Top 100 CE Retailers. The award-winning, knowledgeable sales associates provide an exceptional experience, with live demonstrations of every product in the store to help travelers choose the best products for their journey. For more information and real-time updates, visit InMotion online at InMotionStores.com. Follow the conversations on LinkedIn, Facebook, Twitter and Instagram. About Osmo Osmo is an award-winning STEAM brand whose products are used in over 50,000 classrooms and 2.5 million homes. It is building a universe of hands-on play experiences that nourish the minds of children by unleashing the power of imagination. The company brings physical tools into the digital world through augmented reality and its proprietary reflective artificial intelligence. Founded in 2013 by ex-Google engineers Pramod Sharma and Jerome Scholler, the Osmo Play System fuses digital gameplay and physical interaction to create fun and nutritious play experiences designed for all kids. Osmo is headquartered in Palo Alto, California. Learn more at playosmo.com. Contact Details Carolyn Kamii PR Carolyn Kamii carolynkpr@gmail.com Osmo Karen O'Dell karen@playosmo.com Company Website http://www.playosmo.com

May 26, 2021 04:00 AM Pacific Daylight Time

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Freightlancer acquires freight marketplace Loadshift, receives investment from Maas Group founders, appoints new CEO.

Freelancer.com

Freelancer Limited (ASX: FLN) (OTCQX: FLNCF), the world’s largest freelancing and crowdsourcing marketplace by total number of users and jobs posted, today announced that it’s partially owned subsidiary, Freightlancer, acquired Loadshift, Australia’s largest heavy haulage freight marketplace with 85.8 million kilometers of freight requested in 2020. At the same time, Freightlancer received $3.7 million investment from Wes Maas, CEO and founder of Maas Group Holdings (ASX: MGH, market capitalisation $1.2b), a diversified industrials group, Tom Cavanagh, CEO & founder of EMS Group (now a division of ASX:MGH), a specialist in machinery hire, sales, repairs and rebuilds to support underground mining and tunnelling and others. Startive Ventures, a venture fund focused on global technology and Internet startup opportunities also participated in the round. Tom Cavanagh, an experienced executive in the mining & equipment industries as founder and CEO of EMS group is also joining Freightlancer as Chief Executive. Founded in March 2007 by entrepreneur Phil Callaghan, Loadshift has grown to be Australia’s largest online heavy haulage freight marketplace with 68,837 freight requests (up 26.8%) for 85.8 million kilometres of freight requested in CY 2020 and over 73,000 loads posted in the last twelve months. Loadshift In FY20, Loadshift EBITDA was approximately $766k. The purchase price was $7.7 million. Freelancer Limited owns 53% of Freightlancer Holdings Pty Ltd after the transactions closed. Forward-looking statements This document contains certain "forward-looking statements". The words "anticipate", "believe", "expect", "project", "forecast", "estimate", “outlook”, “upside”, "likely", "intend", "should", "could", "may", "target", "plan" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings and financial position and performance, including Freelancer’s FY21 outlook, are also forward-looking statements, as are statements regarding Freelancer’s plans and strategies and the development of the market. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of Freelancer, which may cause actual results to differ materially from those expressed or implied in such statements. Freelancer cannot give any assurance or guarantee that the assumptions upon which management based its forward-looking statements will prove to be correct or exhaustive beyond the date of its making, or that Freelancer's business and operations will not be affected by other factors not currently foreseeable by management or beyond its control. Such forward-looking statements only speak as at the date of this announcement and Freelancer assumes no obligation to update such information. The release, publication or distribution of this document in jurisdictions outside Australia may be restricted by law. Any failure to comply with such restrictions may constitute a violation of applicable securities laws. About Freelancer Twelve-time Webby award-winning Freelancer.com is the world’s largest freelancing and crowdsourcing marketplace by total number of users and projects posted. More than 50 million registered users have posted over 19 million projects and contests to date in over 1,800 areas as diverse as website development, logo design, marketing, copywriting, astrophysics, aerospace engineering and manufacturing. Freelancer owns Escrow.com, the leading provider of secure online payments and online transaction management for consumers and businesses on the Internet with over US$5 billion in transactions secured. Freelancer also owns Freightlancer & Loadshift, enterprise freight marketplaces with over 88 million kilometres of freight posted in 2020. Freelancer Limited is listed on the Australian Securities Exchange under the ticker ASX:FLN and is quoted on OTCQX Best Market under the ticker FLNCF. Contact Details Freelancer.com Phil Sylvester +61 400 538 309 psylvester@freelancer.com Freelancer.com Sebastian Siseles +14158012271 sebastian@freelancer.com Freelancer.com Helma Kusuma +19179202356 helma@freelancer.com Company Website https://www.freelancer.com

May 25, 2021 06:30 AM Eastern Daylight Time

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The Swarthmore Group Adds Jocelin Reed as Senior Equity Portfolio Manager

The Swarthmore Group

Investment advisory firm The Swarthmore Group announced that Jocelin Reed, CFA, is joining the firm as a Senior Equity Portfolio Manager. The firm successfully represents institutional clients, pension funds, endowments, high net worth individuals, insurance companies, and retirement plans. Reed was most recently a Principal and Portfolio Manager for AJO Partners in Philadelphia where she oversaw U.S. Equity Strategies totaling more than $10 billion in assets. She has more than 30 years of experience in the financial services sector, including 19 years with Bank of New York Mellon and its investment subsidiaries. “Jocelin will be a wonderful addition to The Swarthmore Group,” said James Nevels, Founder, Chairman, and CEO of Swarthmore. “She will be assuming the Senior Equity Portfolio Manager position from our colleague, Kurt Brunner, who has served our clients ably and well for nearly three decades. Jocelin and the recently hired fixed income team position the firm to serve our clients for decades to come.” Reed has experience in equity research and portfolio management across all segments of the equity markets. Over her tenures at Mellon Capital Management and AJO Partners, she developed a keen eye for the types of investments that are rewarded as well as the know-how to build portfolios that exceed client expectations. She has been a client-facing advisor during most of her career and specializes in developing and researching materials for clients and externals stakeholders. “I look forward to working with The Swarthmore Group Team in the continuing evolution of an exceptional firm,” said Reed. “Most importantly, I’m fortunate to be working with a like-minded team in its commitment to long-term client relationships.” Reed earned a bachelor's degree in finance from Penn State University and an MBA from the University of Pittsburgh. Jocelin is a Chartered Financial Analyst and a member of the CFA Society Philadelphia. The Swarthmore Group is one of the oldest, active, minority-owned registered investment advisors headquartered in the Commonwealth of Pennsylvania. It offers wealth management, institutional investing, and institutional consulting services to a diverse group of individuals and institutions. More information is available at www.swarthmoregroup.com. Contact Details David PR Group John P. David +1 305-724-3903 john@davidpr.com Company Website http://www.swarthmoregroup.com

May 21, 2021 10:00 AM Eastern Daylight Time

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Phase 4 Services Taps MCR Labs Operations Director for CFO Role

MCR Labs

Adding to their roster of cannabis industry and laboratory operations experts, Phase 4 Services, a laboratory management and consulting firm, has hired Ross Gutman to serve as vice president & chief financial officer. Gutman has served as director of business operations at MCR Labs, one of the oldest and most well-known cannabis testing labs on the East Coast, for nearly six years. He will draw on the knowledge and experience he’s gained while growing MCR Labs into a multimillion-dollar operation to assist Phase 4 clients with establishing effective finance, accounting, and administrative processes. Gutman will continue to guide business operations at MCR Labs while he takes on additional duties of strategic planning and process improvement for Phase 4 and their clients. “This is an important opportunity for Ross,” said Michael Kahn, president and founder of MCR Labs. “His work for us was the turning point in going from being a great local testing lab to becoming an organization capable of scaling operations and expanding at the same pace as the rest of the cannabis industry.” Phase 4 Services works with cannabis testing labs in both the marijuana and hemp industries to streamline administrative processes, advance testing capabilities, and scale operations to meet the ever-growing demand for reliable compliance testing. About Phase 4 Services: Phase 4 Services is a scientific consulting and laboratory management firm dedicated to growing, supporting, and enhancing hemp and cannabis testing laboratories. Founded by experts in analytical testing, pharmaceutical chemistry, business administration, and development strategy, our team is equipped with the knowledge and experience necessary to ensure partner laboratories are successful in their pursuit of advancing public health and safety for cannabis patients and consumers. For more information visit http://phase4services.com. Contact Details Phase 4 Services Joe Crinkley +1 857-230-0839 pr@phase4services.com Company Website https://phase4services.com/

May 20, 2021 07:47 AM Eastern Daylight Time

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Cyvatar Wins Two Coveted Global InfoSec Awards at RSA 2021

Cyvatar

Cyvatar today announced two more prestigious industry award wins, this time as 2021 Global InfoSec award winners for the Cutting-Edge in Cybersecurity-as-a-Service (CSaaS) and the Most Innovative SecOps-as-a-Service, by Cyber Defense Magazine--the industry’s leading electronic information security magazine. This year marks Cyber Defense Magazine’s ninth year of honoring global InfoSec innovators. Its submission requirements are for any startup, early-stage, later stage, or public companies in the information security space who have a unique and compelling value proposition for their product or service. “We’re thrilled to receive one of the most prestigious and coveted cybersecurity awards in the world from Cyber Defense Magazine,” said Cyvatar Co-Founder and Chief Executive Corey White. “We knew the competition would be tough, and with top judges who are leading infosec experts from around the globe, we couldn’t be more pleased.”. Award judges are CISSP, FMDHS, CEH, certified security professionals who voted based on their independent review of the company submitted materials on the website of each submission including but not limited to data sheets, white papers, product literature, and other market variables. “We scoured the globe looking for cybersecurity innovators that could make a huge difference and potentially help turn the tide against the exponential growth in cybercrime, said Gary S. Miliefsky, Publisher of Cyber Defense Magazine. “Cyvatar is absolutely worthy of these coveted awards and consideration for deployment in your environment.” CDM has a flexible philosophy to find more innovative players with new and unique technologies, than the one with the most customers or money in the bank. CDM is always asking “What’s Next?” so we are looking for Next Generation InfoSec Solutions. Whether you’re a small business starting from scratch or need to amplify your existing security investments, Cyvatar is here for you. Get started for free or reach out to Cyvatar at CYVATAR.AI. About Cyber Defense Magazine With over 5 Million monthly readers and growing, and thousands of pages of searchable online infosec content, Cyber Defense Magazine is the premier source of IT Security information for B2B and B2G with our sister magazine Cyber Security Magazine for B2C. We are managed and published by and for ethical, honest, passionate information security professionals. Our mission is to share cutting-edge knowledge, real-world stories and awards on the best ideas, products and services in the information technology industry. We deliver electronic magazines every month online for free, and special editions exclusively for the RSA Conferences. CDM is a proud member of the Cyber Defense Media Group. Learn more about us at https://www.cyberdefensemagazine.com and visit https://www.cyberdefensetv.com and https://www.cyberdefenseradio.com to see and hear some of the most informative interviews of many of these winning company executives. Join a webinar at https://www.cyberdefensewebinars.com and realize that infosec knowledge is power. About Cyvatar Cyvatar is committed to cybersecurity for everyone. As the industry’s first subscription-based, cybersecurity-as-a-service (CSaaS) company, it’s our mission to transform the way the security industry builds, sells, and supports cyber solutions. We empower our members to achieve successful outcomes by providing expert advisors, proven technologies, and a strategic process roadmap to guarantee results that map to their business drivers. Our approach is rooted in proprietary ICARM (installation, configuration, assessment, remediation, maintenance) methodology that delivers smarter, measurable security solutions for superior compliance and cyber-attack protection faster and more efficiently, all at a fixed monthly price. And because we’re a subscription, members can cancel anytime. Cyvatar is headquartered in Irvine, California with locations around the world. Begin your journey to security confidence at CYVATAR.AI and follow us on LinkedIn and Twitter. Contact Details Cyvatar KC Higgins +1 303-434-8163 kc@cyvatar.ai Company Website https://cyvatar.ai/

May 19, 2021 12:15 PM Eastern Daylight Time

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America Leads The Charge As 6.3M Estimated to Use CoWorking Spaces By 2025

Ezra

Research from Ezra, the leading provider of digital coaching, has estimated that by 2025, 6.3m of us will be working from a shared office space, with America already leading the workplace revolution. Coworking has grown in popularity with providers such as WeWork providing greater flexibility and affordability on a global scale, to companies who might otherwise have been priced out of a city office space. In the last year alone, the estimated number of worldwide coworking spaces has climbed by 21%, up 42% since 2018 alone. At the same time, demand has also remained robust, with the estimated number of people using a coworking space up by 27% since 2020 and 49% since 2018. It’s predicted that despite the problems caused by Covid, the prominence of coworking spaces is due to climb at an annual rate of 21.3% a year. Ezra’s research shows that this would push the number of global coworking spaces to over 50,000 by 2025, a 207% increase in just 8 years. It would also mean a 284% increase in the number of us working in a shared workplace, with 6.3m predicted to be doing so by 2025. America currently ranks as the world’s coworking hotspot, with an estimated 3,762 shared office spaces. Based on the average capacity of 83 people to an office, Ezra estimates that 312,246 Americans currently work within a shared office. With the average coworking covering 7,308 square foot, that’s 27,492,696 sq ft of shared working space across the United States, again by far the most of any global nation. Of course, America’s labour force is one of the largest in the world at 146m people, with just China and India home to a larger overall workforce. As a result, America’s current coworking setup could accommodate just 0.21% of its total labour force. In this respect, Hong Kong is home to the highest level of coworking spaces with enough to currently accommodate 0.58% of the nation’s total workforce, with Portugal (0.49%), Spain (0.41%), Australia (0.39%), Canada (0.28%) and the UK (0.24%) also ranking ahead of the United States. Founder of Ezra, Nick Goldberg, commented: “Coworking spaces have become incredibly popular in recent years as they not only provide flexibility and affordability, but also a fresh business culture focussed on accessibility and collaboration. Of course, the pandemic will have caused many to swap their shared workspace for a home office for the short term, but this popularity is expected to keep growing as the world reopens and the way we work continues to evolve. America is very much the nation leading this workplace revolution with by far the most coworking spaces and the number of those opting to use them. However, this is a trend we’re seeing emerge on a global scale and one that we expect will continue to gain momentum.” Contact Details Properganda James Lockett +44 20 7856 0185 james@properganda.pr Company Website https://www.helloezra.com

May 19, 2021 08:20 AM Eastern Daylight Time

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COVID-19 crisis will lead to a new period of rapid, transformative growth and prosperity: Studio 44 reveal 10 key insights for business leaders

Stockwood Strategy

As we recover from the COVID pandemic, environmental, social and technological trends are converging, leading to rapid, disruptive and transformative change, the likes of which we have not experienced for more than a generation, argues Simon Sear, CEO and founder of Studio 44. Leaders need to ensure that they and their organisation are ready to innovate and transform. Sear said: “The COVID crisis will lead to a new period of rapid, transformative growth and prosperity just like the First World War led to the roaring twenties, the Second World War to the golden age of capitalism and the recession of the late 1970s to the expansive growth of the 1980s. Spring always follows winter.” Combining with this natural economic cycle are major tailwinds, such as society’s demand for more progress on racial and gender equality, social mobility and mental wellbeing, Studio 44 argues. Governments and wider society have reached a tipping point on progress with environmental sustainability, while technologies including artificial intelligence (AI), hyper-automation and the Internet of Things (IoT) are supercharging change. These converging trends will result in rapid, disruptive and transformative change, the likes of which we have not experienced for more than a generation. Sear added: “Economists are predicting record growth and leaders need to ensure that their organisations are bold, more agile and quicker to change than at any time in history in order to deliver competitive performance in terms of cost efficiency, revenues and return on capital” Studio 44 has identified ten key insights by working with leaders during the challenging times of COVID, ranging from experimentation to mindset, technology to organisational culture. Sear concluded: “The crisis has highlighted many insights into how leaders can prepare for this next phase of growth and the journey ahead. They are at a once in a generation inflection point, opportunity is coming, and they need to ensure that they and their organisation are ready to innovate and transform.” Here is a summary of Studio 44’s top ten insights: Create a common mission: Often, in non-crisis times, organisations pay lip service to their mission. It’s written down, but no one really buys it. If the crisis did one thing very well, it was to provide a focus. The need for speed: The pace of change had been increasing, but the crisis supercharged this. Leaders need to focus their organisation on being able to respond quicker and with more agility than ever before. Change the corporate mindset: Many companies have long-held beliefs that limited their ability to respond and transform assumptions that need to be put in the bin. Make bold investments: The successful businesses of the last 12 months were the ones that had historically invested in new ways of working and bold new propositions. Experiment: In a decade that will be defined by rapid change and transformation, inexpensive, fast experimentation needs to be in the DNA of an organisation. Allocate your best people to your best opportunities: The pace of change is becoming ever faster and the war for talent continues to heat up. Leaders need to balance the need for transparency and fairness with quickly getting the right people in the right roles to optimise the chances of an organisation’s success. Teach more than new digital skills: In building on the successes of working from home and a period of change and disruption, it's crucial to teach employees new cognitive strategies and behaviours to enable them to adapt. Break the silos: During the COVID crisis innovative leaders gathered a multi-skilled team, incentivised them all for success in the same way and gave them the space to make it happen. Many leaders are now thinking about how they can maintain this kind of operating model and not return to older ways of working and the inefficiencies they create. Keep communicating: The pace of disruption and uncertainty in the next decade means that people will often feel unsettled and will seek reassurance. These are the same needs team members faced during the COVID crisis. Practice stakeholder capitalism: Leaders need to take a cooperative model into the next period of transformation. They need to take a long-term view, to have a strategy that not only ensures financial performance in the short term, but invests, and is seen to invest, in longer-term positive outcomes for all stakeholders. About Studio 44 Studio 44 is creating the future. It is a next generation consultancy that helps senior business leaders create step-out growth, disrupt markets and transform their culture and ways of working. It brings together smart people from tech, the arts, business and science with a common mission to create growth for clients with a focus on people and the planet. By bringing diverse thinking and the spirit and energy of a start-up to corporate clients Studio 44 radically shifts the operating model of a traditional consultancy. Contact Details Studio 44 Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://studio44.io/

May 19, 2021 05:00 AM Eastern Daylight Time

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