By Shirley Hermiston
The Business Lounge at the North East BIC
This series of blog will help us countdown to Christmas providing some useful information to those of you who are considering self-employment and hopefully get you on the right path to setting up your own business.
By now you have probably decided where you will run your business from and any costs will have been incorporated into your business plan.
Many sole traders don’t need premises and decide to work from home, whether it’s from the kitchen table or a dedicated study room. Some businesses run quite smoothly from home however it may not be right for everyone.
To help you decide if it’s right for you, I have listed a few pros and cons which should help you make your decision.
Pros
• No need to commute to the office and incur travel costs.
• You can use your time to best suit you. Work as and when you please.
• It’s convenient to fit in with family life. Parents in particular find it more manageable working from home.
Cons
• You need to have self-discipline and avoid the distractions of home life.
• It can be messy if you don’t have a set work station such as a separate study. Working from the kitchen table may not be the ideal setting for you.
• No social interaction. Sometimes you need someone to bounce ideas off. Co-working allows you to work as an individual in a shared environment and the support network of other business can be vital to small companies. This can be more cost effective if you spend a lot of time out of the office.
• You may find you can’t switch off on an evening and put in too many hours. You need to get the balance right.
Tips for working from home
• Treat your study like an office. Where possible have a start and finish time to allow you to switch off.
• Dress as if you are going to work. Many of our clients say they feel more motivated by dressing smart.
• Try to stop yourself from doing housework during your working hours.
• Try out some co-working spaces or events. Our business lounge facility is ideal for those who desire a prestigious place to work from but don’t require their own offices.
Remember, you can always start off from working from home and then when the time is right look for suitable premises or alternative ways of working.
If you are looking for premises stay tuned for tomorrow’s instalment.
For more information about our virtual and open space business lounge call 0191 516 6066.