Running Business from Home Versus Renting an Office?
There are two option to business premises whenever you think of launching a business. The two are to rent an office in a busy commercial set up or work from home. Each of the options has its modalities, pros, and cons. It is prudent to give a look at both and then decide which is your best fit. Bear in mind the nature of your business since it is very critical when making this decision. The office is the traditional way of starting a business. Home Office is a new way of starting a business that is highly fueled by the ability to access the market from home.
When you rent an office, it is direct way to telling the public that this is a business and not a home. As such, clients will be arriving at your business now and then. Your office will be together will other offices in the same building. The building will be located near other buildings with offices. You get the opportunity to network when there are such offices. Networking opportunities are restricted when working from home.
When you rent an office, you have more office space. In this case, you and your employee will have great space to work from. It becomes a great advantage especially when you consider communication equipment. A rented premises offers higher business security. There is provision of tight security within the office building. Still, you will have security for your business.
Working from home is definitely a great option for some business. One of the freedoms you get is the chance to work at any time you want. Working from an office is restricted to opening and closing hours. If you operate from home; you can work at any time you wish or when you have a client.
Working from home is another way to cut costs on rent. You don’t need to rent an expensive house on the busy street as you can convert some rooms in your home to be your office. You won’t have to pay other additional costs as you will just continue paying the normal bills.
Working from home gives your business high level of privacy. There will be distractions as clients for other offices knocks your business. Even though it gives a networking opportunity, it could become a threat to the privacy of your business. You, however, got control over privacy in your home.
Your business is however limited in space size when you work from home. It is not possible to contain your employee in single premises for optimal use of resources. Instead, they work remotely meaning that you don’t have any control over their performance. A larger business needs a rented office while a small business can operate from home.
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