Sole Trader? What are your office space options?

Posted by Tim Green Commercial on 02/09/2011

If you're a sole trader and work for yourself, deciding what to do about a workplace can be confusing. Do you work from home or do you try and find office space? Should you share a space with someone? And of course, most people who work for themselves realise the difficulties of maintaining a steady stream of income to pay for your expenses. If you're a sole trader, what can you do about office space?

Work from Home
This is perhaps the most popular option for the sole trader, especially if you're a freelancer. You've already got a perfectly good study, why not make it your home office? These days you can stay in touch with email, text messages, web chat - the whole lot - and you don't even have to change out of your pyjamas! However, this may not be the ideal solution for some businesses. For example, if you live outside of the city, it'll be hard for you to travel to meetings. Other sole traders, such as solicitors or accountants, will require a separate office space for professionalism and credibility.

Rent office space
For many, renting a small office space will be the best solution. There are actually some relatively affordable commercial property options if you work for yourself, since you won't need much space and generally don't require a prominent street presence. Consider how much space you'll need including storage, whether you'll require a reception area, signage etc. Also take into account how long you'll need your commercial offices and what sort of terms you'll be locking yourself into. For example if you take on longer term consultancy position at a larger company, you'll often end up using their facilities instead.

Share office space
For some, sharing an office space could be beneficial. Many creative artists and designers will rent studio space from a larger institution or operate out of related premises, such as an agency. Associating yourself with a larger company could have many benefits and could be good for business. However, think about issues such as privacy, competition and whether you'll be able to work effectively in such an environment.