Running Business from Home Versus Renting an Office?
When you think of starting a business, there are two ways to get its premises. Renting an office in a busy commercial setup or working from home are the two options. 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. A careful decision will be very important since the nature of the business is very crucial here. The office is the traditional way of starting a business. Running a business from home is a revolutionary trend that has been fueled by the ability access the market from the internet.
Renting an office gives you exposure to the public as business and not a home. This way, clients will be flowing into your premises. Still, your office will be located in a building with other offices. The same building will be amidst other buildings with other offices. You get the opportunity to network when there are such offices. Networking opportunities are restricted when working from home.
There is more working space with rented office. As such, you have adequate space for your employees to work from. When the communication equipment is considered, it becomes a great advantage. A rented premises offers higher business security. The office building is under tight security control. Still, you will have security for your business.
Working from home is definitely a great option for some business. You have the freedom to work at any time you want. This is different from working in an office that is limited to the opening and closing hours. If you operate from home; you can work at any time you wish or when you have a client.
You easily cut off rent costs when you work from home. As you can convert a room in your home to be a workstation, you don’t have to rent an expensive office in the busy street. You won’t have to pay other additional costs as you will just continue paying the normal bills.
Home business gives you a high level of security. If you are working from an office, it is likely that clients to other business land into yours causing distractions. Despite the networking opportunities given when you work in an office set up, you business privacy is limited. You have control of privacy back at your home.
When working from home, you business is however restricted in space. You cannot contain your employees to a space and have them use the resources optimally. Rather, the employees work remotely meaning that you don’t have control over how they work. Home offices are nice for small business while rented offices are best for larger business.
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