Home office v serviced office

What are the hidden costs of running a business from home versus using a serviced office? Your own home is often the obvious base from where to run a new business as it does not involve any obvious costs and it saves any outlay on office rent. But is this the really the case?

Working at home on laptop by Aga

Setting up your first office in a spare room or at the dining room table is easy these days what with laptops and mobile phones. But new business owners should be aware that there are hidden obstacles and distractions of being based a home that can be overcome with a serviced office.

Insurance

Your existing home insurance may not cover your home for business use or any business equipment like computers or stock. You should always check with your insurer whether you need a separate insurance policy to run a home business.

Business rates

Business rates may be payable on the part of your property that you use for your business.

Signage

If you run the sort of business that means visits from customers or deliveries you may want to have a sign or advertise outside your home which may need permission

Distractions

It’s all too easy to find other things to do like putting the washing on, loading the dishwasher, watching the TV, walking the dog….when you should be working!

 

Renting a serviced office in a business centre overcomes many of these challenges and so, in the long run, is probably no more expensive than setting up an office at home and can often provide a better, more effective, professional working environment. Most business centres have a range of offices of different sizes, which means you can start in a small office and grow into bigger offices whilst retaining the same address.

 

Easy in easy out

Most serviced offices are on a fully inclusive licence agreement with just a 1-month notice period, so if you want to move out or to a bigger office you can easily do so.

Monthly payments

Easy budgeting with a simple all-inclusive monthly licence fee collected by direct debit.

Visitors

Having a serviced office keeps your home and business separate so customers or clients do not know where you live. A serviced office is also a professional environment in which to conduct meetings and often there is a receptionist to greet visitors, making first impressions count.

Business environment

A business centre is a hub of businesses of all sizes and can provide access to other likeminded business owners, giving a ready-made support network. Formal networking events or informal discussions in shared kitchens can result in business leads, new connections and ideas, something that does not happen when you are home based.

 

If you are setting up a new business and want to know more about the benefits of a serviced office or to have a look at one of our three business centres in Witney, contact us on 01993 848770 or reception@hexagonbusinesscentres.co.uk.