Schools get a hand from East End entrepreneurs to make money

Schools facing tough budget cuts are being offered a helping hand to hire out their premises to avoid having to sell off assets to meet the bills.

A company has been set up by two friends in London’s East End aimed at capturing a niche in the market for education establishments to make better use their premises to earn income.

The new company, Hire Space, has been started by Ed Poland and co-founder Will Swannell in offices at Whitechapel’s E1 business centre.

“We’re turning what are often wasted resources into income at a time when funding is being cut,” Ed explained. “Schools are using their facilities more efficiently are finally able to ensure a stronger economic foundation by hiring out their facilities.

“It makes it easier for them to avoid having to sell off facilities like playing fields, or worse—apply for emergency funding.”

The partners have been approaching schools across London with tailor-made online booking and payment services through their company.