Benefits of a Virtual OfficeNo High Office Rent to Pay
Especially in Singapore where real estate properties are commanding high prices, prime office rent is amongst the highest in the world! Most business start-ups will find that office rent commitments to be a heavy cost burden and yet it is important for them to project a professional image for their companies. Therefore, virtual office offers an ideal solution for business start-ups and for the young entrepreneurs who need to have an office address in the Central Business District but do not want the burden of paying the high office rent.Flexibility
In running a business, one major expense is leasing or renting costly office space that is often under-utilized. Meeting rooms, which only see occasional use, cost as much per square foot as a reception area. You do not need to commit to a fixed office space and incur the initial set up costs such as rental deposit, office renovation and purchase of furniture. Virtual office gives you the flexibility to pay only for only the basic facilities that your business need to use. You can expand your usage of virtual office facilities as your business grows to a level where the additional expense is justifiable.Expand Your Market Reach without the high costs!
You need not confine the marketing of your product to one particular location. Setting up physical offices in several locations can whittle down your profits and hiring of sales persons in different locations who communicate virtually, through phone and internet to generate sales leads is more cost-efficient and cost-effective.Reduce Travelling Time and Transport Costs
If we think about how much time we need to spend in traffic daily, how much travelling we need to do for having business meetings in the City, we should think also of how much time and costs we can save by having a virtual office. A virtual office that is located within the Central Business District makes great sense for no better reason than the fact that you can save on the travelling time and costs as the banks are within walking distance and when most of your customers and business associates are also in the City. The time saving equates to more sales calls, more research time and more business for you!Attract the Right Employee
With the current unemployment rate in Singapore at its lowest; employees can be choosy with where they want to work. Most employees prefer to work in the City and especially if the office building is at the doorstep of the MRT!
With a virtual office, you can afford to hire employees based on their expertise and cost-effectiveness and thus can accommodate employees’ choice in terms of how work is being carried out. Some employees may prefer to work from home, saving commute time and travel expenses. Performance of virtual office workers are measured on what they produce rather than the time they physically spend in the office working. Thus, they can become more productive and happier since they can better balance job, family and leisure time without having to adhere to some imposed schedule.
With intranets, virtual phone set ups and other link ups in your virtual office will make it easy for you and your employee to work on such arrangement.