As an entrepreneur you know the value of investing time and money in your business. You know how important it is to get that balance right between pouring money in and pulling those purse strings tightly closed. There are plenty of ways to save money when it comes to setting up a business, including ditching the office space and working from home, but is it always a good idea?

In this article we take a look at the pros and cons of the home office and offer a third way.

Pros of Home Working

There is a lot to be said about setting up at home. For a start, that daily commute is out of the picture, the office space that eats into your turnover is eliminated and you’re free to set your hours as you please. It also offers you the chance to balance your work life around your home life. If you do the school run in the morning, start an hour earlier, start when you get back, whatever suits you. If you’re home with a dog, it’s fine to take a walk and receiving deliveries is made all the easier, knowing you’re going to be home.

You’ll be able to claim back some of your energy expenditure as a small business owner and you’ll have the convenience of all the food and coffee you need to get you through your working day.

On the Other Hand

Switching off and creating boundaries is next to impossible. Seeing your laptop sitting there and knowing how much work you have to do is hard to ignore. Your evenings and weekends can easily be consumed by answering your emails, slipping off to work at your desk for an hour or two. Creating that distinction between work and home is hard.

You might also need more space. Working at your dining room table is fine but without room to spread out, you’re finding it a struggle to stop your living area from becoming cluttered. You need more room and you need somewhere to meet clients that isn’t in your home.

A Third Way

Whether you sell handbags or bail bonds you need space to work in a professional environment and a co-working space might be just the answer you’re looking for. Fully serviced and often with access to wifi, printing and copying services you’ll most often find there are meeting room facilities too.

You’ll be working in the buzz of other people, something that you lack when working from home and you’ll find it much easier to switch off and walk away at the end of the working day.

It’s not easy striking the right balance but a co-working space can provide you with options. You can rent desk space every day, once or twice a week or whenever suits you. Get the best of both worlds and save money when you need to and enjoy the company of others when that works best for you and your business.