New Business – Where to work from?

Posted on Posted in Small Business

New business – Where to work from?new-business-working-from-home

When starting a new business, one of the things you’ll need to work out is where you’ll operate.

Each business has different requirements, so it’s important to consider what will work for you when deciding on a location for your business.

What are my options?

There are a number of options for where you’d like to operate your business from, including a:

  • home office, usually used by home-based businesses
  • shared commercial office or hub
  • temporary premises, such as market stall or pop-up business
  • retail premises
  • warehouse, manufacturing plant or storage facility.

If required, you may even have different locations for the different parts of your business. For example, you may have a warehouse to store your goods, and also a retail premises where you sell them.

Things to think about

Here are some suggested steps to choosing where to operate your business from:

  1. Decide if you want to buy or lease.
  2. Choose a location.
  3. Find a suitable business premises.
  4. Organise the purchase or lease.
  5. Consider your future needs as you grow and expand.
  6. Check with your local council in case you require a permit.
  7. Seek financial and legal advice before signing any contract.

Flexible work space options

More small business owners are turning to co-working spaces.

Co-working spaces are designed to:

  • drive productivity and creativity
  • be flexible and affordable.

They are usually centrally located, easily accessible, and offer outstanding networking opportunities.

More likely than not, your budget may dictate where to start operating your new business from. At some point, is working from home to save money damaging my brand and customer perception? Perhaps with the rapid advancement in technology, your customers no longer need a showroom or office to visit you but rely on a modern interactive informative website.

Feel free to contact the team at Burwood Tax Returns for more information