Many new accountancy practices start-up at home. Is this as good an idea as it sounds? asks Mark Lee.
It’s obvious isn’t it? Starting from home keeps overheads to a minimum and is the easy way to start up in practice especially if you have yet to leave your previous job. I agree. But there are other factors to consider too.
In this article I intend to explore some of the key arguments for and against starting up at home by highlighting some of the other options.
Physical vs virtual
While you may not need a physical office away from home you may still want a virtual one. Most cities have facilities that allow you to have virtual office facilities that give your practice an address with more credibility than a residential one.
Virtual offices provide an address for the post and will typically allow you to book meeting rooms just as and when you need them. There are the huge well-known branded serviced offices in almost every city and also some more individual local facilities that can be traced through a quick internet search.
A practical disadvantage though of a virtual office of this nature is the need to visit to collect your post – unless you pay to have this forwarded, which means you get it a day or two later than the sender might have expected.