In an effort to help hundreds of Bergen County small companies and microenterprises grow their businesses, flexible workspace provider Regus PLC has opened its doors throughout the area to the New Jersey Small Business Development Centers network.
“This partnership is a natural extension for us, as NJSBDC tries to help their clients reduce their costs and risks and give them flexibility to grow — and that's what Regus has to offer in terms of flexible workspace,” said Art Campbell, a New Jersey area sales manager for Regus. “I think we'll benefit because our clients will grow organically through these services, and based on their growth, we'll continue to see more of our space being taken up.”
Though rents for more permanent commercial properties in New Jersey remain low, Campbell said Regus' rates for comparably sized space are still up to 75 percent cheaper than typical office leases.
Regardless of the health of the state's traditional office market, Campbell said the company has no concerns about its clients moving out of their Regus space after leveraging NJSBDC's resources to expand.
"It's a misnomer that we're temporary space, as we have many clients who have been with us for close to 20 years," Campbell said. "Even if companies do move out, we're still seeing an economic climate that's creating clients for us, where people are starting new businesses or forming home businesses that need our virtual offerings. Part of the reason why this partnership was formed was because we see continued growth in the small-business sector, which is driving more and more demand for our space."
Campbell said more than 600 companies currently occupying space at Regus' locations in Saddle Brook, Mahwah, Fort Lee, Paramus, East Rutherford and Woodcliff Lake can use NJSBDC's resources, including one-on-one consulting meetings and training seminars, which will be held in conference centers across those six venues.
Vince Vicari, regional assistant director of the NJSBDC at Bergen Community College, who co-founded the partnership with Regus, said in a statement the alignment is "a win-win strategic collaboration."
In a statement, Deborah Smarth, chief operating officer and associate state director of NJSBDC, said the initiative is "a fabulous opportunity to further provide comprehensive assistance to established business owners to help them grow and create and save jobs."
Campbell said another significant goal for the partnership is to help the network "really extend their reach throughout Bergen County — and even into new markets," since Regus operates facilities in 550 cities and 95 countries.
"We have the world's largest videoconferencing network, and it's on the agenda for NJSBDC to take advantage of that technology," Campbell said. "They're really looking to use our network to expand their reach across the state — and possibly internationally — to help businesses here grow, and that's something we want to try to accomplish through this partnership."