BusinessThe Pros And Cons Of A Remote Business

The Pros And Cons Of A Remote Business

According to a recent report, 16% of companies worldwide are fully remote. As well as this, as many as 77% of workers feel that working remotely is the second most important benefit when they are looking for a new job. 

Over the last few years, the world has been moving towards remote working, and that doesn’t look to change anytime soon.

But if you are starting up a new business – and you’re wondering whether to keep it remote or find a localized base  – there are certain things you need to be aware of. 

Although the world is moving further into an online space, there are both pros and cons to running a remote business. Let’s take a look at some of them to help in making your mind up. 

The Cons

1.) Lack Of Communication

If your business is predominantly online, it means your employees will all be working from home. This can lead to trouble when it comes to communication.

It is far easier to fail communication if everyone is operating in their own space, without the immediate attention of colleagues in front of them.

It is also far harder to keep employees engaged with the work they are doing. For this reason, you will need an incentive platform to ensure strong communication and constant engagement and avoid a low retention rate.

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2.) Employee Mental Health

In the same vein, the mental well-being of your employees might be more at risk. Although it is reported that remote workers are 22% happier than office workers, it all depends on the person and how they deal with isolation.

Once again, strong communication and an employee engagement programme will be necessary in order to avoid any dips in mental well-being.

3.) Lack Of Trust

Another issue with remote working is that your clientele does not have a physical space to put your name to. There are thousands of brands and businesses that exist in the online space, and not all of them are trustworthy.

For this reason, you need to put in as much work as possible to ensure your website is as professional as possible to demonstrate to your potential clients that you are reliable and the right business for them.

The Pros

1.) Save On Expenses

Remote working is a great option. However, if you are a start-up business that is looking to save on expenses.

Even when you work out how much it costs to attain an office space, you need to also factor in rent, heating bills, taxes and more.

The impact on your budget might not even be necessary. If the majority of your business operations can be done on a computer, you might be far better off putting in the extra money to ensure your remote operations are successful and avoid any of the pitfalls previously discussed.

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2.) Always Connected

Another positive to remote working is that you are always connected to your clientele. It doesn’t matter whether it’s day or night.

Your company is always open for them to explore, with times available when they can actively communicate with you.

Your reach is also far wider than it ever would be in an office space. Say, for instance, you choose to locate your business in Manchester.

Your business is naturally going to be localized, with employees and clients existing in or around that specific area.

Online, however, anyone anywhere can work or buy from you, and the chance to create a franchise might be increased later down the line. 

3.) Better Customer Service

With this in mind, you are also able to give strong and dependable customer service as a remote business. This is because the majority of your customer service can be done on the website itself.

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Customers can garner all the information they need, with videos to give instructions, guides to answer queries or even an AI chatbot to help them further. This will free up your time and ensure your customers have the exact information that they want at any time they need it.

Weigh Up The Pros And Cons

There are many more pros and cons to think about, but it’s your job to weigh them up and ensure you are making the right decision.

Remote working, as mentioned previously, is bound to become even more common in the future. Make sure you are ready for the benefits and the potential pitfalls, and there’s no doubt your company will be able to prosper, whatever you choose.

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