Businesses worldwide have been defining their future workplace plans, and virtual offices have become increasingly popular. As remote work became the norm in 2020, companies all over had to reconsider how much office space they required, which led to the growth in the popularity of virtual offices. But what are they, though? How can you tell if it’s the best option for your company? This blog describes how a virtual office functions, how it can benefit your business, and how to get started.
What is a virtual office?
A virtual office is a service that offers various business tasks accessible online and allows employees and business owners to operate remotely. Additionally, it enables businesses to establish and maintain a presence without paying rent for physical property in a prime location. That means you can have a business address in a prominent business location without the cost of maintaining a physical workplace and still work from home.
Businesses that lack real space or desks can enjoy many advantages of a physical workplace thanks to virtual offices. Ralph Gregory, who formed the aptly named “The Virtual Office, Inc.” in 1994, effectively launched the concept, which originated in the executive suite market.
Perhaps you’re thinking: What is the purpose? Why not just lease a workspace?
When you think about it, very few businesses require a full-time office. Numerous companies and freelancers often conduct business from home or ‘third place’ sites like client offices, coworking spaces, and coffee shops. Additionally, very few individuals visit their offices on the weekends. Or at midnight. Alternatively, on public holidays. However, they continue to pay for it constantly.
Finally, there is Covid-19 which boosted the need for remote working. In 2020, more companies than ever before migrated to remote and home-based work settings during the pandemic. Even major firms intend to continue operating that way.
Businesses still require some office components, though. They need a permanent address, a location to receive mail, and sporadic access to conference rooms. All of those things are not necessary at once. Most definitely not constantly, and this is where a Hong Kong virtual office comes in.
Features of a virtual office
A virtual office combines people, space, technologies, and procedures to let firms and individuals operate more productively, frequently from a distance. A virtual office, despite its name, combines physical and virtual services.
Physical components of a virtual office
Company address
An official address at a physical office building that you can use for correspondence, marketing, and formal actions like obtaining a company license or forming an LLC is important. The address is the foundation of a virtual office. This is the cornerstone of every virtual office package, from the most basic to the most expensive.
What makes the address unique? The location fulfills a vast array of company needs. You get a prestigious address for your email and website footer, bank account, mail, registering your firm, obtaining business licenses, and more. Your address is the link between them all. Then you decide where you want to work. You can conduct business from your house, a coworking facility, or even a minivan.
A location to pick up and receive mail
Receptionists on site receive mail by signing for it. Either you pick up the mail or have it forwarded to another address, like your home.
Processing and forwarding of mail
Daily, weekly, or monthly mail forwarding is generally available for an additional charge.
On-site receptionist
Receptionists handle the processing of your correspondence. They will assist in welcoming visitors and setting up your meeting space if you schedule meetings at your virtual office.
Office and meeting spaces
Conference and office spaces are readily available to virtual office users. It is possible to schedule access by the hour or by the day. While some virtual office plans include a certain amount of hours in the subscription, others charge per hour for a conference room.
Copy and print facilities.
A virtual office center has on-site amenities like copy and print equipment, just like a regular workplace. These kinds of services are typically chargeable extras.
Elements of a virtual office that are remote or virtual
Business Telephone
Businesses can choose a business number with a local or toll-free area code as part of a virtual phone offering.
A virtual receptionist
A live receptionist service provides basic customer assistance, call answering, and message taking remotely. Calls are filtered, answered in the name of your business, routed, or left on voicemail.
Digital mail service
A few virtual office locations offer a digital scanning service, enabling you to view a scanned copy of your mail before selecting whether to forward it or discard it.
Business phone system
A cloud-based phone system for businesses has many features, including an auto attendant, extensions, personalized greetings, caller menus, and more.
Reasons to consider renting a virtual office
Credibility and perception
Perception is a huge factor in business. A virtual office aids in the credibility-building of your company. A business with an office address presents a more reputable image to a potential customer or investor than a residential one. It appears more experienced and demonstrates your long-term perspective, professionalism, and commitment to your potential for further business. These factors matter to stakeholders and potential customers. A virtual office may give you that crucial perception and legitimacy for much less money than a traditional office rental.
Flexibility
Starting firms now have the option to create teams outside of more prominent locations, cut costs, and still appear “prestigious” thanks to the adaptability of virtual offices. A renowned postal address is not crucial for many firms but is important for others and clients. For instance, if you are a high-end attorney, you should ensure that your postal address is in a renowned business district; otherwise, your clients may assume that both your skills and your real business address are weak.
Final Thoughts
Virtual office services are flexible and available on demand, and you can add or decline services according to your needs. Because of this, enterprises and people can share the infrastructure, enabling more cost-effective resource allocation.