Work is not the place you go to. It’s what you do. That’s according to virtual office advocates, at least. Virtual offices are gaining in popularity.
And it’s not just early-stage startups that are turning to this alternative to brick and mortar shops. More and more businesses are using virtual spaces to run their operations. Their reasons are quite convincing.
Cost-Efficiency
This is the biggest reason, without a doubt. Having enough money to get your business started is one thing. But, having a steady stream of funds to keep it afloat is a whole different story.
Operating costs such as transport, wages, rental fees, and office equipment, can run high. They can run a business into the ground. One of the best ways to reduce these risks is to establish a virtual office.
Thanks to VOs, companies can alleviate rental and transportation costs. There’s no commute! Employees do not have to show up at a physical workplace.
A virtual office does require an initial investment. However, according to BusinessWeek, a company can save up to £8,000 per remote employee working in a virtual office.
That amount excludes the money saved on foregoing leases and any sort of technology investments. Some large businesses use virtual offices when they want to branch out.
Pay-as-You-Use
VO clients give companies the option to use certain facilities and services just when they need them. Let’s say a business needs a one-off large quantity of copies. Instead of getting a copier, they can simply pay to use the machine when needed.
Such operators also have conference rooms which they lend to their clients. A firm can use the space whenever they want to hold a meeting in a professional environment. Most VO operators provide businesses with facilities and services on a pay-as-you-use basis.
Increased Productivity
Many firms hire remote workers as they can considerably increase productivity. Rather than judging them by how their work, companies judge remote employees by the quality of their work.
It yields positive results for both parties. While employers get better results, the employees have increased morale and feel more relaxed.
Most employees feel happier working in the comfort of their homes. There’s no drama that can build up among coworkers working in a cramped office. That accounts for lesser turnover time and heightened productivity.
Flexibility
Virtual office agreements are not written in stone, to say the least. The agreement can last for as long, or as little, as the company wishes. Your traditional office space typically comes with a long-term lease agreement.
The company using the virtual office is free to change the terms of the agreement. If there is something you want to add or get rid off, like a mailing address or telephone service, simply contact the operator and they’ll take care of it.
Having the chance to change the terms makes your business more flexible. You can even cancel your agreement temporarily if you have a financial shortfall, or for as long as you need to.
Improved Corporate Identity
A company’s image can make all the difference. The way people perceive it can make it or break it. If your business doesn’t have an office, many contractors won’t even consider working with you.
Having a real address on their website or business cards ads value to a company. Many people won’t take a company seriously if it doesn’t have an address. Virtual spaces help companies maintain a professional image.
Moreover, it allows a business to establish itself in a certain location that’s associated with their niche. What brokerage firm wouldn’t want an address on Wall Street?
74% of clients that offer VO services within London are located in the West End, according to smallbusiness.co.uk. The right location is paramount, even in a capital city. You can expect your operator to help you set up the best possible address for your company.
Freelancers and other home-based entrepreneurs can protect their privacy by using a VO client. It allows them to hide their real home address.
Let’s say a client decides to check out your home-based business on Google Street View. Do you really want them to see you hauling a wheelie bin in front of your house?
Even if your business does have a real address already, it doesn’t mean you have to use it. Instead, you can go for a more convenient one.
Conclusion
Thanks to VO clients, many aspiring entrepreneurs have a chance to chase their dreams. Regardless of the industry, virtual offices are a versatile and flexible solution that is not only cost-efficient but also environmentally friendly.
