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"'Ask the Small Business Professor' is a must read for small business owners looking for free expert business advice. Using a Q&A format, Bruce Freeman covers important small business topics weekly by bringing in recognized experts on subjects including accounting, legal issues, trademarks marketing and sales. Don't miss it!"
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Office Expansion Without Extra Office Space
Dear Professor Bruce:
I have a small business with 10 employees and need to hire more staff. How do I manage the cost of additional office space?
You don’t need to add office space to add workers, which is a huge savings for all those businesses on the cusp of growth.
Expanding office space has long been a concern for small businesses, where every dollar is critical. This makes sense, because traditionally it has been necessary to add workspace to add employees, and in many markets the cost of real estate is significant. Over the past several years, the largest companies started to allow employees to occasionally work from home. However, this trend was initially a benefit available only to particular workers, in select markets. All that has changed.
Estimates vary, but by 2008 there are likely to be over 50 million people telecommuting, at least part-time, in the US. That is nearly a third of the working population. And, many of those employees work for small businesses.
Technology prices have come down and connection speeds have gone up. The result? It’s now possible to support remote workers across a host of businesses. Road warriors, part-timers, employees in distant locations—they all are a part of the core team for many companies. Whether you’re a two-person shop or an organization of forty, telecommuting is possible for your organization.
According to Singu Srinivas, president and co-founder of HiWired, Inc., a provider of services and support that helps small businesses utilize and integrate technology, telecommuting is not just possible, but in many cases it is preferable. It allows you to pick the right employees, at the right time, without worrying about procuring the office space to hold them all.
Srinivas emphasizes that all types of business benefit from remote workforces. Including accounting firms, real estate agencies, advertising companies and many others.
The issue is whether it is better to invest in your business or employees at the onset, instead of office space. With the right technology and connectivity set-up, your customers may not feel the difference.
For further information, contact www.hiwired.com.
By 2008 there are likely to be over 50 million people telecommuting, at least part-time, in the US.