When starting off a business one of the main things that one needs to do is to invest money on physical workspace. Having a physical workspace and a large administrative staff helps to make your professional image more stable and clients may find you more trustworthy, but this can be a costly process and you may not be willing to do so until your business reaches a certain level of success. But with the advancement of technology in the current world this may not be a limitation any more.
A virtual office is a suitable work environment which is designed to give companies a physical address and corporate-related services excluding the overhead of a extensive lease and executive staff. For an example an office-related service would be, if a client needs to contact you, his call will be received by a professional receptionist who will greet him with your company name and forward the call to you. A virtual workspace can also provide a physical address for clients to meet up with you. This will give a sense of professionalism to your business thus protecting its image. It also means that you are free to spend your time the way you want as you won’t be limited to an office space. You won’t have to bother with office management and you will more time to focus on the growth of your business. As there is no staff, you won’t have to deal with personal problems such as absenteeism.
This type of workspace is different from a traditional serviced office as it doesn’t need to be leased, manned or equipped. The costs for staff, rent, maintenance and equipment is much more than the cost for a virtual workspace, so it will a cost effective decision. Also it is not restricted by geographical location. Your clients will be able to access you from around the world.
However it comes with some limitations as well. As you grow your business, there will come a day when your demands grow bigger than virtual workspace capabilities. There may be a need for additional space for inventory, samples and documents which the virtual workspace may not be able to provide, in which case you may need to opt for a physical office. They may also have limited access on nights and weekends which some users may feel like a restriction on flexibility.
This type of workspace helps to keep the professionalism of a business and keep costs down which is ideal for a start-up entrepreneur or a small business.