One positive takeaway for many business owners and executives during the lockdowns is the realization that remote work is not just a temporary fix for COVID-19—it’s the future of business. A Gartner, Inc. survey of 317 CFOs and finance leaders in March 2020 revealed that 74% plan to move at least 5% of their previously on-site workforce to permanent remote positions post-COVID-19.
Even as restrictions ease across the country, remote business models are here to stay. Before fully embracing this trend, however, it’s important to consider how transitioning partially or fully to remote work could impact your business.
Why Remote Work Works
Before the pandemic, many executives had little incentive to test the effectiveness of remote work. Today, the benefits are clear:
Cost-Cutting
Remote work reduces overhead, such as office rent and utilities, as well as expenses like janitorial services.
Staffing Flexibility
Businesses can recruit from a larger, often more affordable talent pool, extending beyond their immediate city or region.
Technological Advances
Virtual meetings are now as effective as face-to-face interactions. Employees are more tech-savvy than ever and can complete tasks without on-site IT support.
Quality of Life
Remote work eliminates commuting, helping employees reduce stress and enjoy a better work-life balance.
Challenges of Remote Work
While the advantages are significant, transitioning to remote work comes with its own set of challenges:
Social Interaction
Virtual meetings cannot fully replicate the social engagement of a traditional office. Loneliness may be an issue for employees whose friendships were primarily built at work.
Health Concerns
Arianna Huffington, founder and CEO of Thrive Global, highlighted the health risks associated with remote work, including poor posture from working on couches and weight gain from being constantly near the refrigerator.
Productivity Management
Distractions at home can affect productivity. Business owners and executives must adapt their leadership and motivation strategies for remote teams, while employees need techniques to stay focused.
Start Dreaming Your Next Business Move
If you haven’t started a business yet but are laying the foundation, congratulations! Unsecured Finances is here to guide small business owners by sharing knowledge and helping improve their financial standing for lenders. Many entrepreneurs are starting new ventures in these uncertain times, and we can help you access the funding you need to get started.
Thinking of Starting a Remote Business?
Opportunities are emerging rapidly. Don’t wait while the world passes you by. If you have a vision, Unsecured Finances can help secure the funding you need to take the next step. Remote businesses are on the rise, and new entrepreneurs are creating innovative models to navigate today’s challenges. We help you find funding options tailored to your goals.
Financial Options for Dreamers
Many dreamers are limited by their immediate funds, but there’s an alternative. If you have ambition and decent credit, Small Business Loans and No Doc Loans may be available to you. Our goal is to provide the knowledge and resources needed to make your business dream a reality. Call us today to learn how we can help you secure the funding your business deserves.
With over 10 years of consulting experience, Unsecured Finances specializes in helping clients acquire:
1. Unsecured Business Loans
2. Start-Up Business Specialty Loans
3. Unsecured No Documentation (No-Doc Stated Income) Loans
4. Lines of Credit from $10,000 to $500,000, no assets required
Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584
