For entrepreneurs navigating through the development of a new business, you’re undoubtedly discovering how expensive the start-up process is. As a new business owner, you’ll soon uncover that the early stages of business development require careful planning and meticulous accounting, from the cost of equipment and supplies to the price of staffing and employment, plus many more. Not forgetting the additional costs of furnishings and office space, which is a crucial part of a business start-up that many novice business owners often fail to factor into their financial considerations.
Depending on your financial situation, you may discover that the rental or purchase of a physical office space may not be viable at this moment in time, and alternate options such as working from home, using the facilities of an internet café, or setting up a virtual office may look more attractive. Especially with the latter option, many of these alternatives to a physical office can boast tremendous benefits like a more balanced work/home life and other office-style services like mail forwarding, meeting facilities, or a registered business address. A business start-up is stressful enough, which is why we’ve created this article outlining several benefits of going virtual with your office space to make your start-up process cheaper and more manageable.
Creates A Positive Image Of Your Businesses
Virtual office space is available for rent in just about any location, and providing that you opt for a prestigious, well-known site, it can help create a positive image of your business. Suppose that your company operates in financial markets. In that case, choosing a renowned area relevant to your industry sector, such as Wall Street, New York, will further increase your reputation and portray the correct image to future and existing clients.
Not to mention you can use your chosen location even if you live nowhere remotely near it, which means you can maintain the prestigious image of having your business headquarters in the city even though you may be operating from the rural area you call home. This chosen address can also be used on all relevant business documents, such as letterheads, business cards, and on your company website, which appears more professional to potential clients than a home address and, as a result, increases the credibility and legibility of your business.
If you’d like an example of the locations available to your business, consider looking at the list of sites on PhysicalAddress.com. Not only does their website boast a selection of addresses in the U.S, but they also offer various office-related services fit for your business needs. Consider perusing their offerings to see how they could help your office go digital today.
More Cost-Effective Than Physical Premises
Another benefit that going virtual with your office space can grant you is that virtual office space is much more cost-effective than a physical office. It reduces the cost of buying physical office space outright or the risk of getting tied up in an expensive long-term leasing agreement and any maintenance costs that come with it.
Not to mention, if you compare the prices of renting or purchasing an office space in a well-known business area such as Wall Street, New York, or Laguna Beach, California, the costs of a physical office would far outweigh those of a virtual one, which means that you can maintain your prestigious business image without the expense. Additionally, using a virtual office space can also reduce other business costs such as transportation, work attire, equipment, and the wages of a full-time receptionist or administrative staff. Ultimately, virtual offices enable business owners to focus their finances on more critical business areas and save time that might have been wasted on training, etc.
No Traveling Costs
Not only can going digital with your office space help your business image, but it can also improve the impact of your business’s carbon footprint. Since renting virtual office space eliminates the need for physical business premises, you’ll no longer need to endure the commute to and from work, allowing your business to be more environmentally friendly and cutting down travel costs.
On average, in the U.S, around 1.1 million people travel for work every day, and by going virtual with your office space, your business can help contribute to fewer cars on the road, which means fewer carbon dioxide emissions and a happier, healthier environment. Not to mention, by eliminating the time you spend each day traveling to/from work and the precious minutes spent sitting in queues of endless traffic you can use the time you would have wasted doing something productive, like getting ahead of your workload for the day, doing some household chores before you start work, or catching up on emails. Ultimately putting yourself in a more positive headspace for work and getting your daily routine off to a good start.