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Home-working helps more firms cut costs

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A growing number of companies are doing away with the workplace altogether and working remotely instead.

According to a survey by telecommunications provider O2, more and more small businesses are adopting home-working strategies to help cut overheads and deal with the credit crunch.

Questioning more than 500 companies O2 found that 13% of respondents have quit their premises in the past year and now operate from home.

More than half (53%) of small business now have virtual networks installed, allowing staff to work completely from home.

The main reasons given for this shift towards remote working were financial considerations and the availability of fast, mobile technology.

Despite having no fixed address, remotely run businesses have had no problems retaining clients.

Eight out of 10 small businesses operating solely from home said their customers were not concerned about their lack of official office premises.

Simon Devonshire, head of O2 small-to-medium enterprise marketing, said: “Developments in technology and mobile communications are enabling businesses to be flexible and respond quickly to changes in the market place.

“Getting rid of the office relieves many small businesses of a major overhead very quickly and shows a rapid response to current economic pressures.”

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