Should You Rent an Office Space for Your Small Business? The Pros and Cons

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Marleny Hucks
Marleny Huckshttp://MyrtleBeachSC.com
Marlene (or Marleny as she is known in Spanish) is a mentor, teacher, cross-cultural trainer, storyteller, writer, and for those who have been under her leadership or simply sat across the table from her, she is a mirror of destiny. Her love of word and image were formed early on by one of her heroes, Dr. Seuss. If you asked those who know her well, they would describe her a compassionate, funny, wise, curious, honest, real, strong, sensitive and totally human which comes out as she teaches and writes. She sees all of life, even the most mundane, through faith and believes that who we become as we live this side of the veil is what matters not the journey itself or our circumstances. Marleny Hucks has spent her life crossing bridges. She comes from a diverse background of ministry roles and contexts as well as has transitioned in and out of the business world. Having lived outside the country as well as traveled extensively she has a fascination with culture causes her to live her life within a global mosaic no matter where her feet are planted. Marlene currently lives in South Carolina with her husband David, who owns a news company but who she says is a “crime fighter”, bringing light into darkness in their systems of their city. Marleny currently works as a content management specialist covering Myrtle Beach News for MyrtleBeachSC News.

If you’re setting up a business, one of the first things you need is a location. A physical place out of which to run your day-to-day operations, set up your computer system, and store any products and equipment you require. Your main decision in this regard is whether to run your business from home, or whether to rent an office space.

Unfortunately the statistics can’t help you here, as they are divided right down the middle. Research shows that 50% of small businesses begin at home, while the others use an office or other external location.

There are many great benefits to both options, so it’s a good idea to arm yourself with all the information before making your decision. To help you pick the right course of action, here are the pros and cons of renting an office space.

The Pros

  • Fewer distractions: When you work from home, there are kinds of distractions that can hinder your productivity. Perhaps you have children demanding your attention, or you find yourself constantly drawn by the allure of the fridge or the TV. Hiring an office gives you a private space in which to focus, without anything to get in your way.
  • More professional: A hired office gives your business an air of authority, and will make you look more professional. If you work from home, you’re forced to hold business meetings or hire a meeting room for the purpose. But an actual office gives you a place to meet clients face-face and make a strong first impression.
  • Networking opportunities: Your hired office will most likely be surrounded by the offices of other small businesses. Therefore it’s a great way to meet other professionals and expand your network. The next big opportunity could come along the next time you walk down the corridor.

The Cons

  • The cost: One of the main reasons entrepreneurs decide to work from home is that renting an office costs money. If it was cheap, everyone would do it. It’s understandable that you need to watch every penny while you’re growing your business, and your home serves as a complete free workspace.
  • Less convenient: Running your business out of a hired office means you have to get up early and commute to work each day, which is one of the main reasons people quit their jobs and decide to work for themselves. Working from home would be so much more convenient as you could simply roll out of bed and start accepting ecommerce payments on your retail website without even changing your clothes. Operating out of an office takes more time out of your day that you could be devoting to your business.
  • Work life balance: When you work from home, you can enjoy a much better work life balance than you would if you rented an office. After all, you’d be closer to your family and wouldn’t have to spend so much time commuting each day.

Hopefully these pros and cons have equipped you with the knowledge required to make up your decision. Good luck on your journey!

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