The need for a physical office space lessens more and more each year. When most entrepreneurs start a new business, they immediately turn to the internet to establish a client base, promote their new venture and operate.
While it’s possible to run a business from a home office, it’s certainly not the best way of projecting a professional image to clients and partners. In fact, many financers won’t even deal with people who operate from home. In these circumstances, it’s important to find a middle ground. This is one of the reasons why many entrepreneurs choose to rent a virtual office as opposed to a traditional office.
What is a Virtual Office?
A virtual office will provide entrepreneurs with an address that can be used for business correspondence but not a physical space. For example, a business may be registered in the London city center but located in another city altogether.
In short, a virtual office is an address and/or telephone number that is located in a different area from an actual business.
What’s the Point?
Virtual offices are designed for business owners who want to enhance their corporate identities without the usual overheads. Having an address and telephone number on a business card that’s located in a prestigious location radiates professionalism. In addition, it allows entrepreneurs to qualify for finance options that they would otherwise not be allowed.
Entrepreneurs often use virtual offices to get a foothold in their industry without having to invest in a property and sign a long-term lease agreement. On paper, they will look like a normal business, but in reality, they could be nothing more than a home-based operation.
What are the Benefits?
The number one benefit of using a virtual office is the price. Minimal expenditure is a huge part of entrepreneurship, because starting a new business doesn’t always pay off financially. In addition, virtual offices will usually have a physical space in their registered address that renters can use when they need to meet prospective clients. This allows entrepreneurs to uphold their corporate identity without having to invest in a property that may or may not be needed permanently.
Are Virtual Offices Ethical?
The more entrepreneurs use virtual office solutions, the more accepted they become. The thought of conducting business with somebody from home doesn’t sound particularly reassuring. While virtual offices can hide the fact that business is conducted elsewhere, they only become unethical if the service suffers.
All-in-all, entrepreneurs are opting to use virtual offices because they provide more opportunities with minimal risk and extra convenience. According to businessman Brandon Gaille, 67% of virtual workers believe that remote working is more productive than working in an office, and a further 26% believe it’s just as effective. These statistics prove that aside from the financial benefits, going virtual could enhance business performance as well.
Original source, featured image.