When starting a new business venture in 2022, you will need to make many big decisions. Perhaps one of the most important, however, is whether to operate from home or a commercial location.
It is a single decision that establishes a platform for the entire business. While it’s not a simple choice with a right or wrong answer for everyone, more and more people are turning to home ventures. Here’s why:
1| It saves money
Every business decision should be made with at least one eye kept on the financial repercussions. Operating from home saves you from one of the biggest expenses of all in commercial rentals. With the right virtual business address, you will still retain a strong presence. You’ll have the best of both worlds.
A lack of capital is a major obstacle for startups. Reduced costs will help overcome this.
2| It saves time on commuting and communication
Time is the most valuable resource at any company’s disposal. Unfortunately, you are probably guilty of wasting lots of it through traditional business methods. Working from home saves you from commuting. Moreover, you can trade lengthy business meetings for a morning email or memo on a team messaging app.
The extra hours could make a huge difference as you look to progress the business.
3| It provides home comforts
There’s nothing worse than feeling unhappy at work, especially as you could spend 40+ hours of your week in ‘work mode’. When you create a winning home office, you will be far less prone to negative feelings. Furthermore, lunch breaks spent in your kitchen or living room with the family are far more enjoyable.
If nothing else, your concentration and productivity levels can improve.
4| It protects you against the pandemic
The current situation has presented some great opportunities for SME owners. However, the threat of the pandemic still looms overhead. When working from home, you won’t need to worry too much about the impact of further lockdowns. Likewise, the virus is less likely to spread across your team.
Crucially, it is a move that keeps your mind at ease during these testing times.
5| It removes some of the risks
The risks associated with the pandemic aren’t the only issue that may put you off commercial settings. When hiring an office or store, you will be obligated to take on a tenancy agreement. Furthermore, various services will be needed. While you want the company to thrive, there are no guarantees.
Once again, the influence on your mindset can be even more significant than physical gains.
6| It opens the door to flexible schedules
When first starting out in business, there will be times where you need to work late. If running the business as a side hustle to start, a flexible schedule will be even more vital. Working from home allows you to start and end whenever you feel like it. Removing the restrictions can be a game-changer.
The flexibility also allows you to manage a team of remote workers from around the world.
7| It is easier to expand than downsize
When operating from home, there is always a chance that you will eventually grow and work from a commercial setting. From Amazon to GymShark, there are many examples of firms that follow this pathway. However, the reverse route of moving from the office to the home is notoriously more challenging.
As a startup, working from home could be a key feature in your bid for success.
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