Working from home can be a great benefit in a few ways. It will mean that you don’t need as much (if any) childcare provision saving you money, it helps reduce business overheads because you won’t be paying rent and other premises costs, no more time wasted commuting to or from your business premises. However, it also has drawbacks and one of the major drawbacks that I have encountered and a number of business owners that I have spoken to is the work life balance.
The work life balance can be two different problems depending on your mentality and approach to a business some people find they experience one of these, however, many people seem to experience them both at different times depending on their personal and business lifestyle at the time.
The first is always working and neglecting personal and family life, this can have the obvious effects on you such as family stress, over-tiredness, mental stress (and related health issues) and also can be detrimental to a business, I agree that working hard is a good attribute for a business owner but I find that the most productive business owners are those that take time away and have a break when needed and working from home makes this much more difficult to achieve.
The other problem is the opposite to always working whereby you enjoy your social life to the detriment of work, doing household chores because the work you have to do isn’t as exciting or appealing, watching television instead of work or indeed persuading yourself that you have no work to do, when running a business there is almost always something to do, if it’s not carrying out the work within your business it’s the tasks presented by doing the work running your business such as business planning, bookkeeping and general administrative tasks.
Other things to consider when working from home is you will need to satisfy yourself that there are no planning or legal reasons why you cannot work from home, some residential properties have restricted covenants in the title deeds that you cannot run a business from the premises (if so you may need to take legal advice), will parking and deliveries be a problem and you also need to consider the liability of visitors and employees if they visit (or work from) your home address and ensure that you comply with the appropriate health and safety legislation and have adequate insurance cover because your household insurance may not be adequate.