Here we break down the pros and cons of each.
Working from home
For a small start-up or freelancer, working from home gives you the ultimate flexibility. You're free to work whenever you want, with more flexible hours. This brings with it a number of advantages such as:
Flexibility and choice
Whether it's setting the washing machine going on your tea break or being able to take the dog out whenever you want, there's no denying you get more freedom at home.
You choose your hours
Working hours can be slightly more flexible when you're working from home. And even if you stick to the usual nine to five, as soon as you shut down your laptop, you have the benefit of a non-existent commute. This can be great news particularly if you have responsibilities you need to be at home for, such as young children.
However, working from home also has its disadvantages:
Not always practical
While working from home does offer a certain level of freedom, it can make things difficult if you need to organize meetings. It may depend on your location, but client meetings will often be restricted to external locations, or your client's offices, which can result in higher travel costs.
This also means that whenever you have to have an important meeting, you'll be in unfamiliar surroundings that will be more difficult to control.
For some, the freedom that comes with working from home can be a blessing and a curse. Being in your home environment can mean being surrounded by distractions. From the TV to a comfy looking sofa, sometimes the environment can dampen your motivation a little.
Working from home means that you don’t have the social interaction and networking opportunities that you gain from a co-working space.
For a freelancer or small business, sometimes having an alternative to working from home can be a real boost. Benefits to this include:
The opportunity to network
Setting up in a co-working environment gives you the opportunity to meet new people, making contacts that may be beneficial to you as a business, as well as giving your day a little more structure than it might have when working from home, even if it’s as simple as having someone to talk to about the weather.
Essential facilities taken care of
Not only can co-working provide excellent networking opportunities, it can also provide you with access to office facilities, such as tech and meeting space, that might have otherwise been costly.
Finding a balance
While working from home can be great, sometimes it's difficult to switch off when you merge your work environment with your home one. Having a co-working office allows you to properly leave work behind when you need to regain that work-life balance. A co-working space may also hold events such as evening lectures that are a great way to meet new people and learn new things.
It's a commitment
The overriding difference between co-working and working from home is of course the cost. While it's important to know how co-working can benefit you and your business, if it's not financially viable then working from home perhaps wins.
But remember to think about this from an opportunity perspective: will that short-term financial hit provide you with the tools to grow your business significantly and get you in a better position overall?
As with all business decisions, it takes time and research to ensure you're making the right choice. That's where a little expert advice from Workthere can come in handy. We'll always strive to make sure you get the best possible solution - both space-wise and financially.
Get in touch with Workthere today to find out how we can help move your business forward.