Haha.. funny ..
So, do you know what is SoHo guys? SoHo stand for small office/home office, a term that refers to the small or home office environment and the business culture that surrounds it. It also called as a virtual office. SoHo involves only from 1 to 10 workers while a larger business enterprise is often categorized as small business. When a company reaches 100 or more employees, it is often referred as Small and Medium-sized Enterprises (SME).
At the end of the 20th century and the beginning of the 21st, the term "Small or Home Office" and its variants —along with the acronym "SoHo"— have been used to a great extent by companies who market products targeting the great numbers of small businesses that have a small or medium sized office. Several ranges of products, such as the Armoire desk and other desk models, are designed specifically for the "SOHO" market. Many consultants and the members of such professions as lawyers, real estate agents and surveyors in small and medium sized towns operate from such home offices.
That's what SoHo means~ ^^
A home office.
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ReplyDeleteHi Crystal and Jee Lin, this topic is new to me hope i can learn something from here, by the way let me share some information regarding advantages and disadvantages of setting up a home office:
ReplyDeleteAdvantages:
1. Easier to start-up business because of low overhead, for example no need to pay for rental fee, electricity bill, or employees specifically for your business operation. All you need to pay is pay it together with your home expenses.
2. The working time is more flexible if you are self-employed plus you are working in home-office environment, all the working hours is depends on you yourself. Time is flexible as long as you get the job done before the client's due date. For example some jobs like book-keeping works, software script writing, software programming etc.
3.Working at home could have tax benefits such as the tax deductions for rental fee. For example, if you are renting a house, you live there and in the meantime you also work there, you can enjoy rental fee tax deductions benefits. Other than that, if you want to repaint or repairs your house furniture, you also can claim it from tax deductions as part of your home-office deduction.
Disadvantages:
1. Brainstorm is difficult, self-employed employers often get the task done by themselves but when the difficulty moment come to them whereby the needs of solutions and ideas, then they'll face the problem. Unlike normal business environment, where employers can seek advices from employees or partners.
2. Motivation is hard to attain, especially for those who has bad habits like laziness. For example, no regulated working hours might lead to late completion of client's work.
References:
Roche, N. "Advantages and Disadvantages Working From a Home Office", Ezine Articles, viewed 24 September, 2010.
http://ezinearticles.com/?Advantages-and-Disadvantages-Working-From-A-Home-Office&id=849368
"Home Office - Advantages & Disadvantages Conversation", Home Office Warrior, viewed 24 September, 2010.
http://www.homeofficewarrior.com/home-office/home-office-advantages-disadvantages-conversation/
Duermyer, R. "Office-in-Home Tax Deductions - Home Business Use of Your Home", About.com:Home Business, viewed 24 September, 2010.
http://homebusiness.about.com/od/money/a/homeofftax.htm