Technology has significantly changed over the past twenty years. At home, most people used dial-up while work used a broadband network. People did not have access to Facetime from a device in their pocket or easily share documents and presentations.
Going to the office was necessary for better Internet and to facilitate communication between levels of management. Fast forward to the present and most business meetings, interactions, and needs can be met virtually. The need for physical office space is outdated.
Costs Associated with a Physical Office
When you own a business, renting a commercial property is expensive. The costs associated with a commercial office often include:
- Utility bills
- Maintenance
- Rent
- Furniture
- Insurance
Your business costs increase with a physical office space. Other than the basic expenditures listed above, you will also have to hire professional contractors to maintain the heating and cooling systems, plumbing, electricity, and technology. If any of these items break, you will also have to pay for repairs.
Eliminating these costs from your expenses allows you more flexibility in your budget. You can put more of your budget into marketing, expanding your business, and profit. If you have a start-up company, this cost-benefit can prove extremely beneficial.
Working remotely cuts these business costs and provides flexibility to you and your employees. It allows employees to work wherever they are at their own convenience, saving commute costs.
What If I Need a Physical Address for my Business?
A virtual office is revolutionary for small and large businesses. Virtual offices provide you with an official physical business address without the overhead costs. When customers look up your business address from your stationery or business cards, it will appear unprofessional if it is your home.
If you are a small business or a start-up business, customers may also question the legitimacy of a business that has a home address. A virtual office package often includes a business address and phone number. This gives a professional appearance and keeps your home address private.
New Talent Pool
A physical office restricts who you can and cannot hire. If you require employees to come to a physical office, only applicants who live close will apply. Making your business virtual will open an entirely new pool of talent.
Are you looking for someone to work on-call overnight? Have you had a hard time finding someone to work these hours? You could hire someone in a different time zone to answer customer questions and filter emergency calls.
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