When starting a business, one of the first decisions you have to make is whether to work from home or rent office space. Both of these options have the pros and cons. Before making a decision, look at all sides.
Working From Home
- Saves money. With your business just starting out, you can save a lot of overhead by setting up a home office, particularly if you don’t have a lot of start-up cash.
- Shorter commute. The temptation to just roll out of bed and into your office is alluring.
- Flexible work hours. When your office is in your home, you can easily work during non-business hours without inconvenience.
- Home-office tax deduction. When you work from home you can deduct a certain percentage of your home costs from your taxes.
- Procrastination potential. With so many things to grab your attention at home, you may find it difficult to get work done.
- Become a workaholic. If you have a hard time not working, having a home office can make that worse. Checking you email can turn into hours on the computer before you know it.
- Interruptions. When you’re home, your family might think you’re available when you really aren’t. Getting work time respected is difficult with a home office.
- Limited space. Unless you have a large free space, you might find your work paraphernalia doesn’t really fit your home.
Rented Office Space
- Separation of work and home. When you have separate spaces, you can devote your attention to both more effectively.
- Professional presentation. When you rent a separate space it’s easier to bring clients into your office. Even a small office can project a professional image.
- Greater productivity. Without the interruptions of home, you will have more time to actually get work done.
- Adequate space. In a dedicated office you can take up as much space as your business needs. Need more space? Rent a bigger office.