Pre and Start Up Support

Should I rent or work from home?

Running a business from home can be a great option for many entrepreneurs who want to be their own boss and make extra income without the expense and hassle of an office.

But there are numerous potential benefits and pitfalls to working from home.  Check out our top ten most compelling reasons from both sides of the argument.

You Can Work When You Want:

Many entrepreneurs are attracted to the freedom and flexibility that working from home provides. You have the option to schedule yourself or choose your hours based on when you feel most productive.

You Have Control Over Your Working Environment:

Home businesses provide you with the ability to create the perfect work environment for you. You can adjust the temperature, lighting, sound, and other aspects of your surroundings to make your working conditions more pleasant.

Lower Overhead Costs:

You don‘t need to purchase or rent office space to run your business. That means you can often reduce the overhead costs associated with operating a business, from electricity bills to rent and insurance.

Commuting Is A Thing Of The Past:

When you work from home, you don‘t need to worry about the time, cost, and stress incurred with a traditional office job. You no longer need to account for long commutes or rush hour traffic.

Improved Quality Of Life:

When you run a business from your home, youre often able to spend more time with family and friends. This leads to a better worklife balance and a healthier, happier lifestyle since you dont have to leave your home or your family and friends to succeed in your business.

Not everyone is cut out to be a workathome entrepreneur. If youre considering making this choice, its important to understand the drawbacks of running a business from home and consider if its actually the best choice for you.

Distractions:

A major downside of working from home is the lack of concentration. From the laundry and dishes to your kids, pets, or housemate, there are a lot of distractions that could prevent you from working efficiently.

Isolation:

Working from home also means working alone. This could lead to feelings of isolation and loneliness. If youre used to working with people, this could prove challenging.

Networking:

With the lack of interaction comes the difficulty to build relationships. If your business relies on networking, you might need to reconsider.

Flexibility:

The flexibility of working from home can be great but if youre not disciplined, it can make it almost impossible to get work doneMany people struggle to be productive in their own home. Its difficult to stay focused without the structure of a typical office environment.

Long Hours:

Working from home can mean longer hours since you feel like you need to make up for not being in the office. This could lead to burnout, so its important to set boundaries.

Before you make the decision to run your business from home or to move it to an office, make sure you really consider the pros and cons. Its not for everyone but with the right preparation and dedication, it can be a worthwhile venture.  We are more than happy to discuss your business needs and the different options available particular in our #coworking facilities 

If you are starting out in business check out NI Business Info for useful information and guidance.

Get in touch with a business advisor today for further advice and support starting your entrepreneurial journey.

Jennifer McWilliams
Written By
Jennifer McWilliams

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