If you own a business, should you run it from home or a dedicated office?

If you have only recently started a business, you could understandably be brimming with excitement about your entrepreneurial journey’s potential. However, there remains the big question of where you ought to physically base your operations.

Though the COVID era has introduced many people to the joys of working from home, you may still long for the comforting familiarity of a traditional office. If you are struggling to decide between these two options, here are several questions you could answer…

Do you have any employees?

Citing the United States Census Bureau as its source, the job listings website Indeed states that “home-based businesses run by self-employed owners with no additional employees may account for over three-fourths of businesses in the United States.” 

If you are literally the only person who conducts any work for your business, it could make little sense for you to sign a long-term deal covering the rental of a dedicated office — especially since your corporate finances are likely to be tight.

What is your current financial situation?

When your home is your workplace, you don’t need to pay any rent for it — or at least not on top of any you are already paying for the privilege of living in the property. You also don’t need to spend money on any business-specific energy packages. 

Small Business Trends points out that “you might be able to get by with just a laptop and an internet connection, which many people already have.”

Are you eager to convey a professional image?

It might seem like one of those questions where the answer is a foregone conclusion. However, even if you are attempting to foster this image with, say, your company’s website, social media pages and print publicity materials, your efforts could still be undermined by your workplace.

That’s because, while it might be perfectly possible for you to meet up with clients at your home, these people could be much more impressed if you do so at a dedicated office instead.

Is your company growing quickly?

If so, you are probably adding employees to your team at a similarly speedy rate as well as seeing your company’s reputation flourish. 

However, if you are eager to both preserve and build upon the commercial progress you have made so far, you should make sure you have an office to suit. An office broker like Office Freedom can help you to time-effectively find a ‘proper’ office satisfying a wide array of appropriate criteria.

Do you live alone?

If your answer to this question is ‘yes’, you would obviously have fewer potential distractions to contend with when working at home. 

However, if you live with at least one other person, such as a partner or flatmate, they could inadvertently keep luring you away from your work.

Conversely, a dedicated office can constitute a pleasantly distraction-free environment that assists you in establishing clear boundaries between your ‘home’ life and your ‘work’ life. Failing to put in place those boundaries could threaten your mental health as well as your company’s success.