There are an increasing number of small business owners setting up home offices. Mind Your Own Business is a Virtual Administration company, operating from home offices.
Home offices decrease overhead costs such as transportation – either public transit or parking and gas expenses, no additional rent, less expense related to clothing required and less spending money needed for coffee and lunch breaks.
It is important to have a designated space in the home that is workspace only so that work is done in the office. A separate phone line is recommended to avoid family members answering business calls, but also to have control over the hours when business calls are received and answered. It is important for the small business entrepreneur to attend networking groups/events to meet and interact with others and have mentors and colleagues to brainstorm and exchange ideas, to avoid isolation and the feeling of being disconnected.
Clients benefit from outsourcing work to companies with low overhead, such as Mind Your Own Business, as higher overhead costs are not passed along in project pricing.