Nearly all businesses in the United States are small — 99.9% in fact, according to the U.S. Small Business Administration. And they’re making a big impact. Small businesses are responsible for almost 63% of the jobs created in the past quarter century.
As Comerica Bank continued to attract small business customers, the Dallas-based bank set out to make their jobs easier. Comerica sat down with entrepreneurs to brainstorm what resources, in addition to capital, they could offer to help small businesses scale and prosper.
“Small business start-ups have seen the highest growth rate in years, and we know this growing segment needs support,” says Omar Salah, the bank’s director of small business banking. “Comerica is dedicated to being the leading bank for businesses, and we do that by investing in our customers and the community they serve.”
For many single-owner small businesses, Salah adds, office space is an obstacle. So Comerica’s customer experience team, led by Chief Experience Officer Jim Weber, came up with a solution: Comerica CoWorkSpaces, which provides free, fully equipped office spaces. All in one spot, Comerica customers can grab coffee and a desk or conference room, tap into speedy Wi-Fi, work remotely and hold meetings with clients and partners — plus network with other entrepreneurs. They’re the only spaces of their kind in a bank.
The variety of options for CoWorkSpaces across North Texas — available at no cost for Comerica customers — address different business needs. Common Space features an open floor plan with desks, office chairs and monitors for working solo or in teams, with access to a secure, high-speed internet connection, printers, coffee and water. The short-term Private Space offers the same amenities in a closed environment with guest chairs. For larger meetings, choose a Conference Space, with room for 6-12 people and a large-screen digital monitor for video calls. Each CoWorkSpaces location also includes an on-site Comerica ShredSite for destroying and recycling confidential documents.
The largest CoWorkSpaces work area, called Community Space, is available to customers and can also be reserved for free by local nonprofits, even if they aren’t bank customers. The Community Space will accommodate events and meetings for larger groups.
In addition to cutting the considerable costs of office space — rent, internet access, supplies, printer ink, cleaning fees, furniture and more — CoWorkSpaces offers small business owners something invaluable: a place to come together.
“Comerica CoWorkSpaces gives collaboration a whole new meaning,” says Salah. “We are building an atmosphere of diversity, inclusion and creativity to help small business owners expand their relationships, knowledge and involvement within the community they live in.”
Reserve a desk or room with CoWorkSpaces’ easy online system. Available locations span North Texas, including downtown Dallas, northeast Dallas and Plano; more sites are set to open throughout the year. Types of spaces vary by location. (Check the website for updates.)
CoWorkSpaces is among Comerica’s many offerings for small businesses, including new tools that help owners access cash and capital faster, and facilitate business management and growth. All services are based on the bank’s understanding that small businesses are the backbone of the American economy.
“Everything matters in today’s economy,” Salah added. “When we can share our resources to improve margins for small businesses, it’s a win for the whole community.”
To learn more about Comerica CoWorkSpaces, visit comerica.com/spaces.
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