This topic comes up more and more often lately (edit: especially due to Covid) and it proves there are huge positive aspects but also huge negative aspects for working from home.

The positives could be:

Employees are more motivated and put in the extra effort.
Employees feel trusted.
Financial savings such as rent, rates.
More chance for freedom. If your business doesn’t need set hours then as long as the hours are completed then they can be worked at any time.
Technology such as Zoom allows for meetings to continue as if you’re still in the office.
There are many more benefits

The negatives could be:

The initial cost of home set up’s. Such as new computers, secure connections.
Some employees have potential to do less work however if this is on ongoing issue then you need to question is that employee beneficial to the business. An up side will show which employees are motivated and want to see the business succeed.
Less face to face time may make employees feel excluded. After all some people would rather work in an office environment rather than at home.
Potential for distractions.

Overall, you need to weigh up the options specifically for your business and make a decision. There is no yes or no answer as to if working from home will work.