A founder operating a software business from home may reasonably regard a permanent office as unnecessary. The endorsing body, however, has a separate monitoring obligation: it must establish that the business, equipment, personnel and resources described in the endorsed proposition exist in practice.
The legal difficulty arises when a genuinely remote model is treated as though no explanation is needed, or when an address used in a business plan turns out to be little more than a mailing facility. The answer depends on the real operational model and the evidence available at the contact point.