With 2020 coming to a close, the world is drawing a collective sigh of relief. It’s been a rollercoaster year — and as a business, you may have experienced some unprecedented challenges along the way.
The New Year brings a chance for a fresh start and, combined with encouraging news of a vaccine, a distinct feeling of cautious optimism.
Still, many businesses are seeking ways to conserve capital and operate more flexibly in 2021. In the current climate, any fixed or long-term commitment — such as commercial real estate — is a liability that few small businesses are willing to undertake.
Good news is, there are plenty of flexible workplace solutions to support your business growth while reducing spend on real estate.
One of them is a Virtual Office.
What is a Virtual Office?
If you’re not familiar with the term, a virtual office provides everything you need from an office — such as a recognized business address, somewhere to meet people, a place to receive mail, and receptionist support — without the full-time commitment.
Physical office space is available on a pay-as-you-go basis, as are meeting rooms. So if you’re in town and need a place to work quietly or meet a client, it’s easy to book a desk or meeting space in your Virtual Office.
For entrepreneurs who spend a lot of their time working remotely — whether it’s from home or from anywhere — it also cuts the cost of vacant office space. You rent the address and somewhere to receive mail, and you only pay for physical office space when you use it, which means the cost savings when compared to a traditional office lease are significant.
In fact, it’s particularly relevant in this current situation, where social distancing and reduced occupancy requirements means companies are unable to make full use of their office space.
What Can You Do with a Virtual Office?
It’s easy to see how a Virtual Office can help your business save money, particularly if you regularly work remotely. But what can you actually do with it?
Our partner, Alliance Virtual Offices, offers a closer look at how a Virtual Office can support your business growth plans in 2021:
Create a Local Marketable Presence
No business owner wants to publish their home address on their website. It not only looks unprofessional; it exposes your home to the world. With a Virtual Office address, you can create a local presence in your target market. Use it to demonstrate that you’re a local business by publishing your business address on your website, email footer, business cards, letterhead, and more.
Establish Financial Credit
Lenders look more favorably on businesses that use a commercially recognized address and a business number, rather than a home address or a PO box and a cell phone. A Virtual Office address demonstrates professionalism and gives your business credibility from the outside, which is essential when applying for business credit.
Business Setup and Licensing
In addition to credit, you can use your address for important milestones such as LLC setup and to apply for relevant business licenses. It can also serve to separate your business from your personal assets, and may help protect your ‘corporate veil’ as your business grows.
Test New Markets and Expand Rapidly
If you’re expanding and targeting specific locations, a Virtual Office can help you reach new markets quickly and cost-effectively, without the risk and long-term commitment associated with traditional real estate.
Work Productively, Meet Professionally
One of the biggest challenges of home-based businesses is finding a place to work or meet. Coffee shops are the obvious choice, but in the current situation, it’s far from ideal — particularly when you need to discuss sensitive business information or working with individuals who might have. A Virtual Office provides a selection of desks and meeting rooms for pay-as-you-go rental by the hour or by the day, which provides a cost-effective and professional alternative.
These are just some of the ways a Virtual Office can support business growth in 2021.
Whether you’re looking to expand to new markets, apply for credit, or simply work more flexibly and productively, Alliance Virtual Offices can help you pave the way to business growth in 2021.