Recession Fuels Business Innovation and Formation in New York

Regus Group Responds with Ready-to-Use, Affordable Offices with Flexible Terms

NEW YORK, Feb. 12 /PRNewswire-FirstCall/ — The Regus Group (LSE: RGU) has opened its first fully-furnished and equipped business center in New York City since the national economic downturn, responding to growing demand for cost effective places to work with flexible terms that align with the way business gets done today. Located in the financial district across from the site of the new World Trade Center, the new center will help businesses establish a presence and compete effectively in The Big Apple.

Regus has rapidly established a leadership presence in New York City and has more than 50 business centers in the tri-state area. Adding to its global footprint of more than 1,000 locations, Regus will soon open another location in New York at 1501 Broadway.

Flexible Solutions from Regus Reduce Costs and Risk

Why a demand for office space when jobs are being cut? Business opportunities still abound in New York, despite a slowdown in some industries. Because economic recessions tend to drive new types of business activity – including business formation and market exploration – the need for affordable office space with terms that support dynamic business needs grows.

Minimizing risk and cutting costs are key challenges in the current business climate. “For many companies, conventional office leases are expensive and create barriers to market entry,” said Donna Scott, Regional Vice President of Regus. “Regus dramatically reduces costs by enabling clients to save up to 60 percent on facilities, which is typically their second-largest fixed line item. In addition, since there is no upfront capital expenditure, companies can retain their cash. Regus also reduces risk by providing agreement terms that are flexible. Imagine the bottom-line impact: Increased market opportunity and reduced cost structure results in more money that can be reinvested in the business.”

Many companies don’t need a full-time office but still require a local market presence to gain a competitive edge. “Our virtual office lets businesses quickly establish a permanent address, phone number and receptionist at any of our business centers,” said Scott, “and for business travelers needing a professional environment for client meetings, we offer state-of-the-art conference rooms or business lounges for a few hours, a day, or a week.”

City Welcomes New Businesses

Long a strategic location for big business – it is home to more Fortune 500 companies than any other U.S. city – New York is now focused on attracting smaller enterprises with a number of small business incentive programs including the Job Creation, Retention Program, Small Firm Attraction and Retention Grants, and the Qualified Emerging Technology Company (QETC) Tax Credit.

About The Regus Group

The Regus Group is the world’s leading provider of pioneering workplace solutions, with products and services ranging from fully equipped offices to professional meeting rooms, business lounges and the largest network of videoconferencing studios. The Regus Group delivers a new way to work, whether it’s from home, on the road or from an office.

Clients such as Google, GlaxoSmithKline and Nokia join thousands of growing small and medium businesses that benefit from outsourcing their office and workplace needs to The Regus Group, allowing them to focus on their core business.

Over 400,000 clients a day benefit from Regus Group facilities spread across a global footprint of 1,000 locations in 450 cities and 75 countries, which allows individuals and companies to work wherever, however and whenever they want to.

For more information about how The Regus Group can help business owners expand their presence, reduce risk and compete effectively, visit www.regus.com.

SOURCE The Regus Group