Small Office - Home Office
What Is a Small Office/Home Office (SOHO)?
The term small office/home office (SOHO) refers to a small business that is often run out of small office spaces, homes, or even virtually. These businesses are commonly considered microenterprises. Their owners are commonly self-employed who don't need large office spaces to conduct their day-to-day operations. Most use small office spaces or run their businesses from home. As such, SOHOs generally employ fewer than 10 people.
- A small office/home office is a small business
- SOHOs are often run out of small office spaces, homes, or virtually
- Business owners are usually self-employed individuals who hire fewer than 10 people
- SOHOs cut out or reduce costs related to expenses like rent and leases, equipment, and utilities
- Half of the firms in the U.S. are home-based while the majority of the workforce teleworks on a regular basis