HQ, a subsidiary of International Workplace Group (IWG), has partnered with The Alternative Bank on its drive to provide profitable and productive business environments for startups, entrepreneurs and small and medium-sized enterprises (SMEs) across the country to conserve capital for core operations and growth rather than incur fixed infrastructure costs.

The partnership aims to establish between six and eight new workspace locations nationwide each year, enabling SMEs to access a comprehensive business environment and financial services under one roof to boost profitability and growth.

Speaking at the commissioning of its newest modern co-working space in Lagos State, the Country Manager, IWG, Ayo Akinmade, explained that the facility expansion and partnership with The Alternative Bank is expected to significantly impact SMEs, which dominate business activity in most secondary cities in the South-West, North, and Eastern regions.

Akinmade noted that SMEs account for up to 80 to 90 per cent of businesses in the locations, making them the primary target for the company’s flexible workspace solutions.
He explained that the model helps entrepreneurs preserve capital by eliminating the need for heavy upfront investment in office infrastructure, which he said is a major challenge faced and affects business survival.

“In many of these cities, if you have N5 million, you could spend everything setting up an office and have nothing left to run your business. Instead, you can take a desk for about N100,000 monthly and use the rest of your funds to grow your business operations,” he said.

Akinmade added that this approach lowers entry barriers for startups and small businesses, enabling them to operate in professional environments without significant financial strain.

He said with the firm’s nationwide rollout and focus on affordability, IWG’s expansion to other cities, including Enugu, Onitsha, Kaduna, Kano, Maiduguri, Jos, Ibadan, Minna and FF Towers, Lagos, and the partnership with the bank, is set to reshape Nigeria’s workspace landscape while unlocking growth opportunities for SMEs across underserved regions.

Director of Digital Business and Commerce at The Alternative Bank, Mohammed Yunusa, stated that the partnership will transform how businesses access office infrastructure and financial services in Nigeria, creating an integrated ecosystem for productivity and growth.

He noted that expanding such integrated hubs positions as a comprehensive business ecosystem where entrepreneurs can access workspace, funding and operational support seamlessly.

Yunusa emphasised that the partnership aligns with a broader global shift away from traditional brick-and-mortar banking structures toward more flexible, multi-purpose environments for business growth.

He added that the integration of workspace and banking services could play a key role in supporting the country’s growing startup ecosystem by lowering entry barriers and improving access to critical business infrastructure.