A new business centre specifically designed for new starts and micro companies has been completed.
Commercial property specialist North East Commercial, which is behind the Traynor Business Park development in Peterlee, has invested a five-figure sum into Core Business Centre, which is housed within Traynor North.
The centre is within a wing of the two-storey business centre and has been specifically created to nurture entrepreneurship and support new and micro companies in their early-stage business journey.
It will offer a mix of small of office suites for those businesses that employ up to eight people, and hot desks for those who require use of professional space as and when they need it.
Andy Rothwell, Director of North East Commercial, said: “We know how daunting it can be to commit to your first office space, particularly when you’re a sole trader or small company with just a few employees.
“Creating a dedicated space within our business park, almost like an incubation community where businesses can bounce off one another, share ideas and foster growth, was something we were thinking about for a while.
“It came about when we were approached by a current tenant around a year ago. It was a new start with two employees who needed a small office space to support their launch. We didn’t have anything suitable; however we were able to convert a meeting room which was exactly what they needed.
“That highlighted to us that actually, there isn’t a great deal of professional office space that is aimed at the micro end of the scale that is available in the area. And we believe there is demand for it.”
Andy and his business partner Brian Thompson began developing Core Business Centre earlier this year.
The space can accommodate up to 10 companies that employ one to a maximum of eight people.
Finished to a high standard, the facility provides flexible offices with competitive rates to appeal to businesses that have tight budgets in the early days of growth.
Brian Thompson added: “Traynor Business Park is high quality development that is home to businesses of all sizes, and now with the creation of Core Business Centre we have enhanced our portfolio to meet the needs of new and growing micro firms.
“It has been specifically designed to nurture an entrepreneurial culture and to allow tenants to bounce off each other and share experiences that will support their plans for growth.”