59% of Small Businesses Without Office Space Won't Look for Any in 2021, Citing both the Financial Benefits & Improved Employee Satisfaction of Remote Work
Monday, February 15th, 2021
More than half of small businesses (59%) currently without office space do not plan to acquire or lease real estate in 2021, saying that the benefits of remote work outweigh the costs of having an office, according to a new report from Clutch, the leading B2B research firm.
Kevin Harrington is the CEO of Joblist, a job searching platform whose workforce has been entirely remote since the company's founding in 2019.
"The main benefit of embracing a remote workforce for small teams is that it allows them to punch above their weight," Harrington said.
In particular, Harrington identifies 4 benefits of all-remote workforces:
- Reduced administrative and overhead costs
- Ability to recruit from a broader talent pool
- Improved employee satisfaction and work-life balance
- Higher worker productivity
Harrington thinks that forward-thinking organizations, especially those with only a few employees, will use remote work to weather the end of the COVID-19 pandemic.
Businesses May Invest in Coworking Spaces in 2021
1 in 10 small businesses (10%) have contracts with a coworking space.
Experts say that coworking spaces provide flexibility and financial savings for small businesses.
Stewart Dunlop, founder of Airsoft Pal, a website that provides airsoft gun research and ratings, says that coworking spaces are flexible because it is easy to move in and out of a shared space.
Dunlop says that the financial savings coworking spaces provide small businesses can be significant because the internet and furniture is already supplied.
Coworking does come with drawbacks, particularly during the COVID-19 pandemic. Coworking spaces have had to provide better ventilation, cleanliness, and social distancing since the pandemic began.
As time passes, more American professionals may report work in a coworking space.
Hybrid Work Arrangements May Be Popular in 2021
About one-third of businesses who hold a lease for office space (32%) plan to continue their lease with a partially remote workforce in 2021.
Experts say that hybrid work models allow companies to have their employees access the benefits of in-person work part of the time.
"While our team has proven that we're able to make incredible progress and work effectively from home, I don't anticipate that we'll ever see a total disappearance of in-person workplace culture," said Eric Wu, co-founder and COO of Gainful, a sports nutrition company.
Gainful has invested in air purifiers and created a physical distancing plan so that employees can come to the office some days while working remotely on others.
Clutch surveyed 500 small business owners and managers to learn about their plans for commercial real estate in 2021.
Read the full report here: https://clutch.co/real-estate/resources/working-in-an-office
For questions or comments about the survey, contact Seamus Roddy at firstname.lastname@example.org.