According to a new report from business-to-business research firm Clutch, over half of small businesses without an office don’t have plans to purchase or lease out space this year.
These businesses mainly cited that the benefits of remote working outweigh the expenses of an office.
“The main benefit of embracing a remote workforce for small teams is that it allows them to punch above their weight,” said Kevin Harrington, CEO of job searching platform Joblist.
Specifically, Harrington said that with a remote workforce, companies can cut down on administrative costs, expand their talent pool, as well as boost productivity and employee satisfaction.
Additionally, more companies are anticipated to adopt coworking spaces in the future in order to continue providing workers with a flexible office, without the expensive overhead costs.
Along with this, hybrid work arrangements might be on the uprise. In fact, the research found that 32% of businesses stated they would continue to lease office space and operate with a partially remote workforce.
For instance, sports nutrition organization Gainful will use a hybrid work model in order to continue nurturing their workplace culture.
“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.