With lockdowns still in full swing and remote working as the new norm, for most startups sinking funds into a physical office seems pointless. However, are there more reasons to get an office than meets the eye?
With 2020 being such a turbulent year, offices have become virtually extinct, with zoom calls and slack taking their place. With the rise and normalcy of remote work, it is undeniable that some companies may commit to the new normal, and do without renting an office building for their employees. But could this tactic be useful for budding startups as well? The most obvious aspect to take into consideration is the price. Physical locations can be large investments, both in time and money. In comparison, working remotely is as simple as logging into applications and paying subscription fees here and there. Additionally, studies have shown remote working to not have any difference to in-person in terms of productivity.
However, a lack of personal meetings can harm team morale and communication. When deciding how you want to navigate this important question, you should communicate with your team. Find out their thoughts on the move, and don’t be afraid to ask for guidance.