An office in London in the UK while operating an online business from Bali – does this scenario seem impossible to you? A few years ago, it would have been, but not anymore. Through a virtual office address, you can realize this scenario.
If you don’t know what a virtual office address is but would like to understand what it is and how it works, you’re at the right place. In this article, we’ll give you all the information you could need and want about virtual office addresses. So, read on!
Virtual Office Address: What is It?
A virtual office address, also referred to as a virtual business address, is a part of the services provided by a virtual office provider. Virtual offices typically consist of the following:
- A virtual office address
- A telephone number
- Administration services
- Communication services
- Meeting room access
Virtual offices are generally available in CBDs and high streets, worldwide. Some services provided by the providers like www.virtualreceptionistlondon.co.uksuch as phone answering service, are available around the clockwhich means that you can serve your clients and customers 24/7.
The Pros of Virtual Office Addresses
Virtual office addresses come with a wide variety of advantages, which include the following:
1. Real business addresses for remote companies
For companies that are owned and operated remotely, virtual office addresses are nothing short of boons. They provide remote companies with authentic business addresses that can be used on the companies’ official websites and documents. Through a virtual office address, your remote company can also receive mail and packages without fuss or bother.
Last but not least, they help remote companies to maintain a professional image.
2. Establishing company presence in new locations
A virtual office address is one of the best ways for a remote company to establish its presence somewhere new. The best thing about it is that the company doesn’t need to incur any operational expenses typically associated with physical offices.
For example, if you have a virtual office address in London, you don’t need to pay any money for business insurance, utility payments, lease, and repairs.
3. Pay based on your requirements
Providers of virtual office services generally offer a wide variety of membership plans that you can pick from based on what you need. So, there are no additional expenses you need to worry about.
Simply pay for the services you need and save money for the most critical areas of your business.
4. More flexibility compared to physical locations
If you sign up for one of the membership plans offered by a virtual office service provider, you’ll be charged monthly. Compared to physical office spaces, this is a much more flexible option, as you can unsubscribe from the plan whenever you want. Rent agreements for physical locations are typically fixed on the basis of yearly payments.
So, even if you stop using a space in the middle of a year, you’ll still have to shell out the rent for the entire year.
5. Save commute hours
Commutes can be stressful, and for employees covering long distances to get to a physical office and then back home again, it can affect their productivity, morale, and their personal lives as well. With a virtual office address, the commute isn’t an issue.
Employees can get started with their day’s work simply by logging into the virtual office. In the long run, this can enhance their productivity during work hours.
6. Easy and rapid setup
Building a physical office location from scratch can take months, but when it comes to a virtual office address, the setup process is lightning quick. The entire process takes place online and it can be completed within a matter of a few hours. Additionally, there’s little to no paperwork involved.
7. Access to talent on a global scale
With a physical office, you’re restricted to hiring talent that’s located in the vicinity of the office address. Even if you decide to hire employees located far away, you’ll have to shell out talent relocation expenses. However, with a virtual office address, you can recruit from a global pool of talent.
The Cons of Virtual Business Addresses
Unfortunately, not everything about a virtual office address is positive. While the benefits of a virtual office address far outweigh the negatives, the fact is that you’ll have to contend with certain cons such as:
1. Possible technical issues
Virtual office addresses are heavily reliant on the technological infrastructure of the virtual office provider. So, in the event of extended technical issues, your virtual office may be inaccessible. While outages lasting a few minutes aren’t a cause for concern, things can get troublesome if there’s a serious problem that takes several hours or days to fix.
In such a scenario, you’ll have to wait until the issue is resolved, which may hamper operations.
2. Employees may feel isolated
Even though the thought of remote work is tempting for many employees, the fact is that it can get lonely for them after a point in time. Sure, virtual communication is always possible, but sometimes, nothing can replace the feelings of face-to- face in-person interactions that happen in physical office locations.
Over time, feelings of loneliness may impact employee productivity adversely.
3. Conference scheduling conflicts
With more and more remote companies opting for virtual office addresses, scheduling conflicts may arise when booking virtual conference rooms. Most likely, you’ll have to book them in advance, which isn’t always practical, especially if sudden meetings are planned.
4. Hidden fees
On the surface, the rates of the membership plans offered by virtual office providers may seem attractive. However, some tend to add hidden fees for additional features.
If you opt for those additional features, you may end up paying significantly more than what you thought you would have to pay.
The popularity of virtual offices has skyrocketed in recent years due to the ever-increasing trend of remote work. For entrepreneurs operating exclusively from home, virtual office services provide benefits associated with physical business locations but without the high costs of renting brick-and-mortar locations.
So, yes, using virtual buiness address services means that your business can have a legal address in, say, The Gherkin, City of London, London, UK while you actually run it from Legian, Bali, Indonesia.