9 Reasons Why Businesses Are Choosing Virtual Offices
No one is exactly certain what to expect when the economy comes out of the COVID-19 shelter-in-place mandates. The stock market doesn’t even know; the back-and-forth yoyoing every week is dizzying. Politicians don’t seem to know either. That said, most economists are in agreement that recessionary activity is here for some time to come—at least until a vaccine is confirmed. Precisely what the economy will resemble in a few months is anyone’s guess.
For small businesses and solopreneurs looking for ways to reduce cost while ensuring you have maximum flexibility to grow your businesses during this new COVID-19 normal, virtual offices are a great option that warrants investigation. Whether you’re a solopreneur who is just striking out on your own or a small business reevaluating your “permanent” office space and looking at ways to optimize your expenses, virtual offices offer a compelling case.
Virtual offices come in different configurations. Virtual office addresses consist of a professional business address. Businesses that use their home addresses face a number of challenges and even risks. Certain locations prohibit the use of home addresses for registering a business. And even when it is permissible, doing so means private details about the owner are publicly available. Virtual office spaces extend the concept of a virtual address to coworking space and day offices.
Let’s take a quick look at both scenarios to see why businesses are choosing virtual offices:
Virtual Office Addresses
A virtual office address is an address in a professional office location where a solopreneur or small business can receive mail and packages. The virtual office address can be used for registering a business and comes with services such as mail forwarding and a lobby directory listing. Some virtual office address services like Davinci Virtual Office come with other capabilities such as access to meeting rooms and workspace and entity formation service.
Professional image. Perceptions matter, especially for small businesses and solopreneurs, and they are formed in a matter of a few seconds. Home addresses come with risks, and they certain don’t garner the professional recognition a business requires.
Expansion. For small businesses seeking to expand into new regions—whether into the next city or across the country or even internationally, virtual office addresses are a great option. Securing permanent office space takes time—not to mention incurs huge cost. Virtual office addresses enable law firms, marketing firms, counselors, and others to quickly, easily, and cost-effectively grow their businesses.
Business formation. Forming a business and licensing an existing business in different states and countries can be an arduous, time-consuming process. Virtual office address services enable you to get the help of local experts, who will guide you through the process—making it fast and easy.
Virtual Offices: Meeting Rooms to Workspace
Sometimes solopreneurs and small businesses need more than a professional address, they need meeting rooms and workspace. These typically come with a lobby greeter and receptionist, presentation tools, high-speed internet access, business services, and catering for food and beverages.
Permanent office space is expensive—often consuming upwards of 10% of a small business’ revenue (includes lease, utilities, etc.). Virtual office space provides businesses with an on-demand, affordable office capability, where they only pay for the office space when they use it—whether by the hour or day.
It is virtually impossible for a small business—let alone a solopreneur—to afford a full-time equivalent office receptionist. With numerous businesses sharing and using a virtual office space, this is no longer an obstacle. Virtual office space like Davinci Meeting Rooms come with a lobby greeter and receptionist who can answer questions, take messages, and provide directions to visitors.
Agility and flexibility.
For small businesses or solopreneurs seeking to expand into new locations, they not only have a professional address, but they also have the ability to leverage meeting rooms for important meetings with prospects, clients, and partners as well as day offices and coworking space when they need to get work done.
Easy and fast to book.
Virtual office space can be reserved online in a matter of a few minutes. Davinci Meeting Rooms gives clients omnichannel options—from the website, to phone, to live web chat, to a mobile smartphone app. Meeting room configuration as well as the ability to add requests such as catering are available through each channel.
Collaboration and engagement.
Virtual office meeting rooms come with LCD monitors, projectors, whiteboards, and high-speed internet access.
Extra administrative help.
Virtual offices also include business and administrative services—normally with an extra fee—such as faxing, copying, printing, and mailing.
Rethinking Office Addresses and Office Space
Many solopreneurs and small businesses had to make difficult decisions over the past six weeks. COVID-19 has wreaked havoc on personal and business lives. Now is the time to rethink business strategies and explore alternatives that reduce costs while enabling your business to thrive once the economy is back in full force. Virtual office addresses and meeting rooms and workspace enabled thousands of businesses before COVID-19 to realize significant business outcomes, and they will most certainly help thousands more after COVID-19 to do so.