A leading organisation which helps start-up businesses take off says office space is wasted space.
If entrepreneurs want to run a successful business they should set an example to their employees and stay at home.
Office space, office equipment and travel/time costs are all unnecessary expenses which could eat away at a new company’s bottom line and can even be the difference between success or failure
According to one leading organisation, which helps start-ups and SMEs grow their businesses, too many entrepreneurs are ignoring or even unaware of the advantages of remote working.
MBA & Company claims the right ‘working from home’ strategy can save a typical small to medium sized company between £10,000 – £20,000 per employee per year.
“Apart from the obvious costs of having to provide office space, equipment and protection for an employee there is also the hidden benefits of improving morale and minimising wastage” says Daniel Callaghan of MBA& Company.
“Whilst a company does have an obligation to employ staff on a full time basis there is a huge cost advantage of using some workers on a piece rate working away from the office. This is especially effective in the start-up phase.”
Callaghan says this strategy is particularly important when using professionals and business analysts to conduct market research, run marketing campaigns or help prepare the financials to prove a business case for investors.
For example, a vast number of start-ups and fledgling companies are beginning to see the value of MBA input in the early stages of a business. Remote working means MBAs are affordable to a lot of companies.
“There is also a huge advantage of using MBAs with local knowledge,” says Callaghan.
“Not long ago if a UK company wanted to investigate expanding into say South Africa or China the potential costs of investigating the business case would be prohibitive. Now, recruiting a locally based MBA, who may have trained in another part of the world is far more cost effective and insightful.”
MBA & Company has recently worked with companies all over the world who are looking for expertise and knowledge overseas. "The understanding that a locally based MBA would have of the way business works in their local market is so valuable.” says Callaghan.
