No matter how huge your online enterprise is, you still need to set up a physical office space where your employees can interact with one another in person to collaborate on things or hold meetings with investors or major customers and suppliers.
In such cases, there isn’t a need for you to set up and entire building office. If you are going to be only using the physical office space for time to time meetings or maybe PR packages, then you only need to set up a virtual office.
As a startup business, you must have heard about the term. The market value of virtual offices globally was around $26 billion in the previous year, and we believe that the number is going to increase by the end of the current year. Don’t know what it is really is or what it has to offer? Well, not to worry because continue reading and you will find it out. We are going to looking at what a virtual office is and what advantages or drawbacks it has to offer to you and your business.
A virtual office or workspace is a physical setup provided by business centers around the globe to online businesses and multi-national companies. The business centers provide you with a business address and other secretarial business-related services so that you can run your business from home but still have a physical location for your business.
As an online business owner, you might be running your business from the basement of your home. You don’t want your business address to be “Basement of House# 8,” and etc. It would sound too fishy to the customers and clients when printed on your business cards.
Virtual offices have become quite popular among businesses these days because of the wide range of advantages that they have to offer to the business owners, employees, and the business itself as well. From cost-cutting to electronic link, all its benefits have made it the go-to choice for startup businesses. Here are a few benefits of running a virtual office;
Reduces Cost –
One of the major benefits of a virtual office is that it reduces a ton of cost. Businesses with the strategy to reduce the cost to maximize profits should definitely consider a virtual office over a physical one. It helps you cut down rental cost, equipment, and other assets cost and everyday petty cash cost as well. At least that is what Mozilla (developer of Firefox web browser) did to reach the height of success.
Less Hassle –
Running a virtual office is less of a hassle as compared to running a physical office. With the right intranet and company software, you can keep check of everything with just a few clicks.
Promotes formal communication –
Since everything takes place online, thus employees and employers only focus on formal means of communication. Instructions are communicated via emails, which reduce the chances of misunderstanding. Plus, since everyone is at their own location, thus only office-related topics are discussed on the communication channels.
Increases Productivity –
Studies have shown that virtual offices help increase the productivity of the employees. Around 90% of the individuals have reported that they feel much more confident and happy in a co-working office. Since they don’t have to travel to work, it saves a lot of their time.
The best thing about a virtual office is that it keeps running even in unfavorable events. Since the employees can work from home, thus there is no way their work is affected by anything happening outside. According to a survey, 70% of the employees feel healthier while working from home.
If something has benefits, it definitely comes with drawbacks as well. So a virtual workspace also has its own set of drawbacks that might be relevant to your business. So it is best that you consider them as well before you invest in a virtual workplace.
Lack of social interaction –
Individuals who work and socialize under the same room often tend to work overtime. Jeff Gothelf, a couch, and an author says, “When does the workday start? End? Creating a hard line between work/home is tough”. Thus employees tend to create a balance between the two.
Fear of losing their job –
It is common for people working from home to have a physiological fear of losing their jobs. No matter how secured their contract is, they will also have this feeling since they are not able to develop a sense of belonging with the organization that they work for.
Personal issues –
Working from home is quite convenient, but at the same time, it is also super overwhelming. People have their own set of personal family-related issues that keep on interrupting their work and can affect their productivity as well.
Just like all things, virtual offices also come with their set of benefits and drawbacks. So, whether a virtual office is the best idea for you or not depends entirely on the type of business that you are running. So make sure to give it a good read so that you know exactly what would be the best option for your business growth. To find the Virtual Offices in Dubai contact us on the details given below or fill this Quotation Form
Virtual Office Dubai or call us at +971 557012754
Address: 21st floor, Conrad hotel, opposite World Trade Center metro station, sheikh zayed road.
Call (Work): +971 557012754
Call (Office): 043827780
Working Days: Sun – Fri
Office Hours:8:30 – 06:00