Why it Makes Sense to Run your Business from Home
We are most definitely living in the digital age and gone are the days when you needed a prestigious office in the right part of town to be successful. More and more small business owners are realising the full potential of their home by creating a home-office, from where they can manage their business, without having the huge expense of leasing office space.
Convert a Bedroom
This is the easiest way to create an office at home and while you no longer have a guest room, you can say goodbye to your office costs, which would be considerable. Once you have created a floor-plan, you can find the best office furniture in Christchurch with a simple Google search and they will deliver for free. You only need a good quality CEO chair and a large desk and as you are not inviting clients to your home, you don’t really have to worry too much about appearance (you will need a good backdrop for video meetings).
Choose an unlimited data package with good bandwidth, as you rely heavily on your Internet connection, which is your portal to the digital marketplace. Wi-Fi is a good idea as you can work while in other parts of the house and by checking all the ISPs that service your region, you can make an informed decision.
Using stable platforms such as Zoom and Skype, you can run your business at a fraction of the cost of using the traditional phone, which allow you to have video conferences and calls with people from all parts of the world. Voice over Internet Protocol has really empowered businesses by providing cheap communications and if you are not making best use of this technology, this should be a priority.
Slash Running Costs
Once you no longer have office space, you are saving a lot of money and while your home-office will cost a small amount, it will be nowhere near as much as it was when you had that High St office. If you have office staff, they can all work remotely and with daily Zoom meetings, nothing will change and your staff would appreciate being able to work from home, especially during the pandemic. If you are finding the lockdown stressful, here are a few tips that might be of assistance.
The money you spend on your home-office can be deducted on your tax return, much the same as if you were in a leased office, while a portion of your utilities can be claimed for a home-office. Talk to your accountant about this and you will be pleasantly surprised at the tax concessions that you can enjoy with a business run from home.
The current Covid-19 pandemic is encouraging all businesses to carry out their activities online rather than in person and when you switch your office to that spare room, you are instantly slashing your running costs. You could even acquire a modular building and have it located in the back yard, which does give you more independence from the main property.