Increase your market share

The Workspace Group is a profit-for-purpose social enterprise founded in Draperstown in 1985 in response to local decline, deprivation, and rising unemployment.

Established by 170 community members who provided the start-up funding and remain active members, Workspace has grown through a commitment to community-driven change.

Georgina Grieve, Chief Executive at Workspace Group, shares its journey of growth, diversification, and impact.

Building a sustainable model

“Our original business model focused on generating rental income through low-cost, flexible leases for business units. This revenue enabled us to offer free business advice and support to local entrepreneurs, fostering new start-ups and job creation.”

“However, we soon realised that rental income alone couldn’t address the wider social and economic challenges. This led us to explore alternative income streams and diversify across different sectors.”

Strategic growth through diversification

“Workspace has expanded from incubator units to operate four commercial businesses: Homeseal Energy Savings Ltd, Network Personnel Ltd, ThermTech Ltd, and MYM Recruitment Ltd. These businesses generate surpluses that are reinvested into Workspace Draperstown Ltd, enabling vital projects, services, and facilities for the local community - many of which wouldn’t exist without this support.”

“Our diversification approach has been deliberate, focusing on sectors aligned with our social values -such as energy efficiency and employability - and addressing local needs or market gaps.”

“From the start, the Directors insisted that Workspace should not rely on external funding; every venture must be financially sustainable and reflect our ethos of passionate about business delivering to our community.”

Learning and adapting along the way

“Workspace operates four commercial organisations beyond its core enterprise units. Two - Network Personnel and Homeseal - developed organically in response to government policy changes and to tackle urgent social issues like unemployment and fuel poverty. Others, like MYM Recruitment, were created to fill market gaps where there was business potential and ThermTech, acquired later, aligned with Workspace’s energy efficiency values and strengthened financial sustainability.”

Balancing commercial success with social impact

“A reliable income stream is essential for any social enterprise to fulfil its mission. While it may seem unconventional for a social enterprise to prioritise commercial operations, Workspace manages its businesses like any commercial entity, expecting surpluses that are reinvested into its social objectives. A learn-as-you-go mindset supports entering new sectors, with each step grounded in thorough research and due diligence to ensure alignment with Workspace’s values and success potential.”

“Growth has been driven by an exceptional team and a diverse Board with expertise across finance, education, and construction. Combined with strong community roots, this has enabled Workspace to seize opportunities confidently and grow sustainably.”

Overcoming challenges

“Managing ThermTech has been one of our biggest challenges. Based in Manchester and operating in specialised engineering and manufacturing, it’s very different from our other ventures. Finding a leader who shared our values and understood commercial viability was key. Today, a small core team manages day-to-day functions in Manchester, with overall oversight from Draperstown, and this model works well.”

“When entering new sectors without in-house expertise, Workspace recruited talent or engaged knowledgeable consultants. With ThermTech, the previous owner stayed in management to ensure a smooth transition. When expanding Network Personnel into the Republic of Ireland, local staff were hired who had the knowledge and connections to succeed.”

“Each business operates as a separate limited company with its own dedicated team, while support functions such as IT, communications, finance, and HR are centralised for efficiency.”

“Not every venture has succeeded; some that didn’t align with long-term goals or proved unsustainable were sold or closed. An ongoing challenge is the short-term nature of government contracts, which often creates uncertainty at the start of each financial year.”

Measuring impact and celebrating success

“Diversification has been highly beneficial. Although each business operates independently, their combined presence across sectors provides year-round financial stability. Varied performance helps balance seasonal fluctuations and economic shifts.”

“Workspace Enterprises (1985), Network Personnel (1989), Homeseal (1995), MYM Recruitment (2004), and ThermTech (2011) remain successful, allowing Workspace to support broader social initiatives. Each business is assessed individually against budgets approved annually by the Board of Directors. Beyond financial metrics, social value is measured at both business and Group levels—tracking outcomes such as homes lifted out of fuel poverty, new businesses supported, tenants helped with flexible rent, and individuals moved into work.”

“At the Group level, impact on Draperstown is evaluated through the value of free space and grants given to local groups, schools, and social enterprises; free social inclusion programmes delivered; after-school club participation; community use of recreation facilities; and families and individuals accessing the foodbank.”

Looking ahead

“For organisations considering diversification, it’s vital to clearly define your motivation - whether commercial stability, growth, or meeting local market gaps - and to conduct thorough research to ensure you have or can access the expertise needed to succeed.”

“Workspace’s 40 years of experience shows diversification works best when closely linked to existing operations. Entering entirely new sectors or locations presents greater challenges, where the right expertise and support become essential.”