Where Should You Work?  Home, Office, or Coworking?

As we start to come out of living with the shutdowns of Covid-19, many businesses’ physical locations still remain closed to their employees, and remote working has become the new norm.  If you are still working remotely or run a business, you may be at an impasse, wondering what option is right for you regarding your work environment.  You can remain at home, move on to renting an office space or try coworking as a hybrid alternative.

This is a decision that all remote workers and business owners have to make at some point.  To help you make an educated decision, this blog offers an overview of the benefits and possible drawbacks of each option.

Considering Coworking in the Greater Orillia Area?
We’d love to have you join the Creative Nomad Studios community.

Working From Home

Many people decide that working from home is the best option for them. After all, whether you are a freelancer, a remote worker or a business owner you can work from home and pay no additional rent. You can enjoy the tax benefits of having a home office.
This is a viable option for individuals who live in remote locations that make it impossible to commute to an office or a coworking space. Also, it's a good option for the individual who needs to be at home for reasons other than just working. For example, parents with young children might choose to work from home to help with child care and avoid the cost of hiring a caregiver.
Unfortunately, working from home is not always the best option for most people, as it can impact productivity and work satisfaction. Drawbacks include:
  • Constant interruptions
  • Distractions
  • Limited opportunities to network
  • No business mailing address separate from your home
  • Limited amenities
  • No professional location to meet with clients/customers
  • Loneliness
Renting a Private Office

With private office space, you minimize all the above-mentioned drawbacks that go along with working from home.  You will find that having a dedicated location for your business can be quite beneficial.  At a private office, you will have a professional space to meet with clients and can enjoy productive, distraction-free workdays.

Working from an office not only gives you a reason to change out of your pyjamas and leave the house, but you can also benefit from social interaction with your coworkers, which usually leads to higher job satisfaction and productivity.

On the other hand, there are some downsides to renting a private office, especially when running a small business or launching a Startup. The costs of renting a full-size, private office and then adding in all the utilities, and internet can be prohibitive – and it can put a profitable business at risk.  Another is that you will most likely have to commit to space on a long-term basis.  This can a problem for a growing business, as there might be a time when you have a larger team and will need to move to a more spacious office.  If you have signed a yearly lease, the growth of your business and your hiring needs will be subjected to the size of your office space.

However, if you are ready to move your office out of your home, but do not want to spend an excessive amount of money renting a private office, joining a coworking space might be a good alternative for you.

Coworking Space: A Smart Solution

Coworking spaces offer the benefits and amenities of a full, private office at a lower cost while giving you the opportunity to participate in a community of innovators and entrepreneurs and network with like-minded professionals in numerous industries.

A coworking space provides a wide array of benefits over both traditional and home offices.  For example, the cost of a coworking office is much lower than a traditional office, making it a viable option for startups and freelancers.  Additionally, most spaces typically have flexible memberships, which means you can sign up on a month-to-month basis, or any schedule that works for you.  This minimizes the amount of time you are locked in, allowing you to change your work arrangement as your business grows or changes.

Most important, when you choose a coworking membership over renting a private office, you will have the opportunity to expose your business to many professionals – and potential customers. By being part of a coworking community, you will not only grow your network, but you will have the chance to offer your services to a large pool of businesses. It is not unlikely for freelancers and small businesses to get gigs from companies and independent workers within their coworking space.

Considering Coworking in the Greater Orillia Area?
We’d love to have you join the Creative Nomad Studios community.  Come and Take A Tour with us today.

Working remotely can be a fantastic option for workers who want to be more independent and have autonomy over their work.  However, transitioning from a traditional job to a remote position can be challenging and requires effort, dedication, and most of all, adaptability. The skills noted above will help you figure out if working remotely is the right career move for you.
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