I am often asked if it is better to run your business from home or from an office?
Quite obviously there are pros and cons for each option.
Home has the advantages of virtually zero cost (bearing in mind that the costs are already factored in to running your home) apart from some additional heating, power, telephony, wear and tear, and possibly some office furniture. There are also savings associated with not travelling to work.
Home has the disadvantages of not presenting a professional address, both for mail and visitors. There is the added problem of children crying, washing machines spinning or dogs barking whilst making that crucial telephone call. Family, visitors, Wimbledon or the Olympics can be a further distraction.
Offices, particularly the serviced office variety, offer a professional environment and image. A cost effective option is to hire a mail box and use a meeting room when required. This presents the impression that your fledgling business is rather more substantial.
Some of us need the discipline of going to the office to work. It is considerably more motivational than having an office at home, for most people.
The costs vary proportionately with the space or number of workstations required. Those costs are often all inclusive, giving just one invoice to process each month.
The level of servicing varies between serviced office establishments. Most will include fast broadband, 24 hour access, furniture, heating, power, business rates, water, kitchen facilities, cleaning maintenance and parking.
Additional costs may include meeting rooms, printing/scanning, telephones and secretarial.
Another advantage is the ability to expand or contract your workspace to suit the prevailing economic conditions. This can often be implemented at short notice with little disruption to the smooth running of your business.
What are the disadvantages of running an office?
Well it is undoubtedly cheaper to operate from home.
There will be some rules to comply with to ensure the smooth running of the establishment, but most tenants would consider this to be an advantage.
A number of businesses will outgrow serviced offices. When this happens there is usually a very short notice requirement, allowing that business to expand into their own premises as seamlessly as possible.
In this blog I have tried to quickly set out the arguments for and against operating your business from an office. I may have missed some salient points. There are often other outside factors which will influence your decision and you will take these into account when considering a move.