The State of WeWork | Guide To Coworking Giant

Startups.co.uk is reader supported – we may earn a commission from our recommendations, at no extra cost to you and without impacting our editorial impartiality.

WeWork was once one of the biggest names in real estate, but it’s since had a huge fall from grace.

After a failed initial offering (IPO), multiple locations in the UK closing, and reputational controversies, WeWork’s loss of value has tarnished the brand — leaving many entrepreneurs concerned about the security of its business model.

Still, the appetite for coworking spaces is high, as the real estate sector caters to big post-pandemic priorities such as flexible office space and shorter leases.

This guide will take you through the true state of WeWork, as well as help you to understand the alternative workspaces and options available, so you can decide on a coworking space that is truly the best for your small business – rather than the biggest name you’ve heard of.

This article will cover:

What is the state of WeWork?
Where did WeWork go wrong?
How much does WeWork cost?
How do WeWork costs compare to competitor costs?
What are the best UK WeWork alternatives for SMEs?
Conclusion - should you use WeWork?

WeWork Alternatives

		Location(s):	Membership cost:	Best for
FEATURED	CHEAPEST PROVIDER
Regus Membership	Icon Offices	Wimbletech CIC	Clockwise	Creative Works
300-400	9	10-12	11-17	1
From £139 per person, per month	From £120 per person, per month (dedicated desk)	From £95 per person, per month	From £125 per person, per month	From £120 per person, per month
Prime locations	Business support	Networking	Aesthetic	Creative teams

Free alternatives to WeWork

Office costs can be one of a company's biggest expenses. But did you know there's a way to avoid spending ANY money on your workspace?

See the top free coworking spaces in London.

What is the state of WeWork?

Founded by Adam Neumann and Miguel McKelvey in 2010, WeWork’s “Do What You Love” ethos appeared to be ushering in a new era of office working focused on modern, open common spaces and a sense of community. Currently, there are around 600 WeWork locations worldwide.

Before its bankruptcy filing in 2023, around 40% of WeWork clients were large, or enterprise clients, but 80% of its space was used by small or individual businesses. WeWork’s website currently claims to provide UK startups with “a smarter, more flexible way to work that is tailored to your goals, your markets, and your speed”.

However, following the impact of COVID-19 — which hit the commercial premises industry hard — millions were lost and membership fees dried up. WeWork’s property portfolio has since depleted, and as of mid-2024, it closed approximately 10 sites to reduce expenses.

Adding to its woes has been a series of PR disasters. Over the past couple of years, the media has showcased a much less flattering portrayal of WeWork than the company has self-evangelised.

In August 2023, WeWork senior leaders warned they had “substantial doubt about the company’s ability to continue”, causing the company’s stock valuation to fall by 24%.

Three months later, the company filed for Chapter 11 bankruptcy in the US. However, it officially emerged from bankruptcy in June 2024, having successfully restructured and eliminated over $4bn in debt.

Things have started looking up for WeWork since the end of this bankruptcy period. Following its restructuring, WeWork was recognised by the Turnaround Management Association (TMA) as the 2025 Large Company Turnaround/Transaction of the Year.

Where did WeWork go wrong?

If you’re a small business owner debating whether to sign a contract with WeWork for flexible coworking space, there’s important context you should understand before making your decision.

Profitability? Never heard of it.

Following a meteoric rise to success, WeWork attempted to go public. Big time. In August 2019, it filed an IPO that was valued at a huge $47 billion (around £34.5 billion).

After the filing, concerns were raised about just how accurate that valuation was. The company didn’t seem to be making much profit. It rented extremely high-cost properties across the globe, and yet was subletting them out for a comparatively low cost.

Quickly, the launch was delayed, and the valuation steadily dropped. In April 2023, WeWork’s global shares were trading at £0.38 and a market cap of $345.7 million (around £227m). That means the company had lost some £34.2 billion in value over four years — a rapid demise that didn’t do much to raise investor confidence.

WeWork in a toxic environment

In addition to its financial struggles, in 2019 it emerged that WeWork co-founder and former CEO Adam Neumann had instilled a toxic culture at the company during his tenure. Multiple lawsuits for alleged race discrimination and sexual harassment were filed against the company, the latter of which claimed to have been enabled by what court documents described as “an entitled frat-boy culture that permeates from the top down”.

Such high-profile criticism shed new light on Neumann, with further allegations of eccentric behaviour and drug use being referenced. SoftBank, WeWork’s main investor, paid Neumann £1.24 billion to step down and sever all ties with the firm. He did so in October 2019. The company’s current CEO, John Santora, was appointed in 2024.

Questions about accountability

Alongside deceiving shareholders and risking staff safety, WeWork hadn’t always been fair to its members. The brand was criticised for charging individual offices full rent during the pandemic. As SMEs could not afford to pay for a building they were not actually using, many were sent into debt.

Long-term leases also dropped, as a growing number of companies moved towards a hybrid working model, and thousands of tenants halted their payments.

However, WeWork is by no means in its death throes, despite this onslaught of setbacks and bad press. It is still a coworking giant, and as of June 2024, it reported having around 550,000 global members.

How much does WeWork cost?

For a WeWork desk in London, prices start at around £289 per month, while pricing for a private office is only available on request.

Large-scale businesses are the target audience for full-floor offices, which afford the greatest amount of flexibility and even include personalised branding. The Full-Floor Office plan is only purchasable as an annual subscription, but would likely set you back by around £3,000 per month.

Are there any discounts available?

New members can get three months free* of monthly membership fees across multiple WeWork offices in London and Dalton Place in Manchester. You can find out more about it here.

WeWork All Access

This plan has the greatest amount of flexibility for teams that have freelancers or staff members in multiple locations. For a set amount each month, you’ll be able to visit multiple WeWork locations without being charged anything extra.

Users have access to conference rooms, hot desks and private offices worldwide, as well as shared amenities and communal areas within the buildings.

It offers two payment tiers — Basic and Plus. While Basic isn’t available in the UK (according to the WeWork website), its Plus membership offers the ability to work from 450+ locations, and includes three credits per month to book meeting rooms and private offices.

How much does WeWork All Access cost?

The cost for a WeWork All Access membership is currently £289 per month. As it’s a monthly membership plan, you can sign up quickly and leave just as easily.

WeWork On Demand

This solution is best-suited to sole traders or hybrid workers, and is built around a pay-as-you-go pricing model.

As of early 2025, 28% of UK adults are working a hybrid working model. So, if your employees are only looking to work from an office for half of the week, the On-Demand plan will save you buckets in comparison to monthly memberships.

Users can download the WeWork On Demand app and book a shared workspace or a meeting room without a monthly subscription. The service applies to over 285 workspaces across 50+ major cities. You can check availability online.

How much does WeWork on Demand cost?

Access to a hot desk typically ranges from £35 to £70 for London locations, and £35 to £45 per day for Manchester. Meeting rooms are also bookable from £45 per hour.

How do WeWork costs compare to competitor costs?

As the UK dances along a cliff edge of recession and economic recovery, resources are thin and need to be managed smartly. And with business rates and rent continuing to climb for office spaces, many business owners are choosing to invest in a serviced office instead.

Still, even coworking costs can be very expensive, which is why budget is now one of the biggest considerations for small businesses.

Will coworking save me money?

Kat Patterson is the managing director of Art of the Possible Agency, which is based at coworking venue Venture X Chiswick Park. Patterson said: “I think when you add up the cost of having an independent office (insurance, rates, heating, security, keys, reception, cleaners, printers, etc.) and the level of support you get, [coworking spaces] are incredibly good value.

“My clients love coming into the office, and all of the team make them feel really welcome. We also have access to a variety of meeting rooms, parking, and resources that we wouldn’t otherwise have at this stage.”

Is WeWork a cheap coworking option?

In short, no. In fact, WeWork is one of the most expensive coworking providers for small businesses.

Its pricing is also not very transparent compared to rivals like Regus, which has clear payment packages published on its website.

Here’s a quick breakdown of WeWork’s costs for one month, and how they compare to three typical competitors in the UK coworking market:*

	Location(s):	Membership cost:
WeWork	BEST FOR LOCATIONS Regus	Huckletree Ancoats	Beehive Lofts
Multiple	Multiple	Ancoats	Ancoats
Est. £289 per person	From £139 per month	£20 (day pass)	From £315 (excluding VAT) per month (for six months)

*All prices are accurate as of February 2026

After a cheap coworking space? Read our guide to the best cheap coworking spaces in London.

What are the best UK WeWork alternatives for SMEs?

The world has experienced a coworking boom thanks to the advent of flexible working, which has accelerated businesses’ desire for hybrid work environments and less rigid rental contracts.

As a result, there are many smaller coworking companies cropping up in cities across the UK, opening up lots of regional market competition. Whether you’re based in Bristol or Aberdeen, we recommend you research local coworking spaces in your area to find the best option for your small firm.

Luckily, our experts have been monitoring the sector since before WeWork’s conception. Below, we’ve picked out what we think are some of the best coworking providers nationally.

1. Regus

Regus is owned by IWC plc – the largest global provider of flexible coworking spaces, with around 3,000 spaces in 120 locations – and is one of its most famous operating brands.

Like WeWork, Regus has conference rooms, designated desks, and kitchen areas. There are private and team-based office options, and business support is enabled through networking events.

However, compared to WeWork, Regus is larger and more profitable. That means it’s a safer bet for small businesses wanting an office space they can commit to for more than six months.

In terms of value for money, Regus also dramatically outperforms WeWork. A monthly coworking membership is £150 cheaper, and even if you don’t want a full membership, it offers multiple services for low prices. For example, its dedicated coworking desk offering can cost from as little as £3 per person per day.

Here are the plans available:

	Coworking
Price per person (Unlimited use)	£269 per month (£459-£525 for Central London)
Price per person (10 days per month)	£189 per month (£229-£269 for Central London)
Price per person (5 days per month)	£139 per month (£159-£189 for Central London)

What do Regus users have to say?

Paul Lindsell is managing director at ThoughtSpark, a marketing agency. Lindsell told us: “As a marketing agency, we have to have a presence in Central London as a convenient node for both staff and clients.

“We looked at various options, and the best deal was Regus in W2. The facilities are smart, central and easily accessible for our people and clients flying in from abroad. WeWork and others offered trendy add-ons – beer in the fridge, ‘brainstorm spaces’, and so on – but we just wanted a smart location and good service.”

“The flexibility means that we can scale access to the Regus workcentre for our changing workforce at just a month’s notice. The whole process is easy – having easy back-office processes to scale up and down is not something many SMEs think of, but it’s been invaluable to us.”

2. Spaces

Acquired by IWG in 2015, Spaces still operates as a separate brand. In terms of what makes it different, Spaces can generally be described as the more creative brother of Regus. As well as general office space, it also boasts specialist facilities for artists, entrepreneurs, startups and ‘digital nomads’.

Users choose from a variety of plans offering office space and coworking memberships, as well as meeting rooms and designated desks. A day pass with Spaces costs from £35, while a monthly membership ranges from £189 per month to £650 per month, depending on your location and whether you choose a coworking space, dedicated desk, or private office.

As well as trendier, more design-focused properties, Spaces also offers a virtual office plan from £75 per month. This provides you with a business address and also means you can access mail handling and telephone answering services – a smart idea for startups that are looking to scale but aren’t in need of an office just yet.

3. Spacemade

Spacemade’s USP is also what makes it a much more affordable option compared to WeWork: it operates as a partner to building owners, enabling them to transform forgotten buildings into individual and vibrant workspaces.

Because of this, the majority of its locations are based outside of Central London, concentrating on the cheaper suburban belt of the city. It also has coworking options available in Leeds and Bristol.

Founded just four years ago, Spacemade featured as one of our top 100 Startups for 2021 thanks to its impressive market disruption and smart operation style. With prices starting from £169 per month for a 10-day pass, Spacemade is a great way to get around expensive brands such as WeWork.

Conclusion – should you use WeWork?

Despite the company’s famous glass walls, WeWork has been anything but transparent in the past few years, and there are lots of things to consider if you’re debating choosing WeWork as a building operator.

However, with its successful restructuring and maintaining around 600 locations globally, it’s still a viable route to consider for small businesses and startups.

Still, as this guide has shown, alternative companies can offer WeWork’s products, services and more, all for a lower cost. Given the current boom in the coworking market, now is a smart time to move away from WeWork. Small businesses should take advantage of new competition in the market to find the best discounts and deals.

Startups.co.uk is reader-supported. If you make a purchase through the links on our site, we may earn a commission from the retailers of the products we have reviewed. This helps Startups.co.uk to provide free reviews for our readers. It has no additional cost to you, and never affects the editorial independence of our reviews.