DETROIT – Bamboo Detroit, the city’s original shared office space community, today unveiled its 2017 Bamboo Detroit Economic Impact Report. This is the first study conducted by the organization of its member businesses and their owners. It is also believed to be one of the first inside looks at the impact of businesses who utilized a shared office space solution, sometimes referred to as coworking, for their business needs.
“Small businesses and startups are often the backbone of our economy,” said Bamboo Detroit Co-founder & CEO Amanda Lewan. “This survey of our member businesses shows how strong an impact a community of small businesses can make, hiring local, spending money and supporting our local economy. Shared office space is incubating growing enterprises that have longevity and serves to attract more diverse entrepreneurs.”
- Bamboo members generate revenue of $74 million annually
- 51% considered themselves women-owned businesses with 65% of businesses citing a woman partner or woman leader with an equity stake in the business
- 47% consider themselves minority owned businesses
- 28% percent of Bamboo members are making $500,000 to $2 million and more in revenue annually
- 43% of our members reside in the city of Detroit, with 33% elsewhere in Wayne County, and 15% in Oakland County
- Hire an average of 4 people per year
- 80% of members to date have hired, partnered, or referred business to another Bamboo member
Founded in 2013, Bamboo Detroit now has nearly 250 members. The company offers private offices, team offices, dedicated desks as well as an open collaborative work space and mail services. Members include programmers, photographers, technology startups, design firms, insurance agencies, automotive suppliers, nonprofits and consultants.
With pricing starting as low as $50/month, Bamboo provides its members, and the public with growth programming as well, including business workshops, networking events, inspirational talks, peer to peer support, and a wellness and self-care series.
The complete report summary can be found by visiting https://www.dropbox.com/s/ebdbmw6mzxqlxw1/BambooEconomicImpact%289%29.pdf?dl=0 .
Bamboo Detroit Co-Founder & CEO Amanda Lewan will appear on M2 TechCast Monday Nov. 13 from 3 to 4 pm on the www.podcastdetroit.com Network.