5 Benefits of Using Virtual Offices for SMEs
Virtual Offices are quickly becoming the number one choice for SME’s and businesses that operate primarily online in Singapore. Gone are the days of traditional office spaces, paying for building repairs, maintenance and the high expense of paying rent in prime locations such as Battery Road or Marina Boulevard in the prestigious Singapore CBD.
Nowadays, business owners are choosing a virtual office to get the most bang for their buck. Employees have a central, strategic, prime location to refer to, no matter where in the world they are located. Having the option to work remotely and in their own time has been proven to lead to increased productivity from employees, which has a direct reflection on the success of your business.
Let’s take a look at five of the biggest benefits to utilising a virtual office for your SME.
1. Decreased Overheads
Compared with a traditional brick and mortar office, a virtual office has significantly fewer overheads. Utilities, cleaning, maintenance, decorating and day-to-day expenses all quickly become a thing of the past with a virtual office. These savings can be reinvested in your business and allow you to grow faster.
2. Lower Start-up Costs
Not every business can afford a prime office location in cities like Singapore, Bangkok and Hong Kong. A Marina Boulevard address is unattainable for most small businesses when going down the route of a traditional office. Even if you do a get a good deal on the rent, there’s furniture, facilities, office equipment and more to deal with. A virtual office eliminates this burden and lets you get on with doing what you do best.
3. Prime Physical Location
Despite what you might think, a virtual office does provide you with a physical address and a real phone number you can share with your clients. This allows for mail and call forwarding when your clients are looking to get in touch.
This service also gives you access to a variety of boardrooms, meeting rooms and office spaces to be used on an ad hoc basis where necessary, alleviating many of the issues that can come with the lack of a physical location. Given that these spaces are often used by multiple companies on a regular basis, this also gives your business the chance to network and connect with other companies in similar fields.
4. A Happy Workforce
It’s well documented that happy employees are more productive employees. When employees are able to set their own schedule and allow time for a personal life, they become more likely to stay on schedule and complete their work on time. You will notice a lower staff turnover and your employees will always have access to your virtual office from anywhere in the world.
5. Update Your Business Model
With a virtual office, it’s simple to integrate a hybrid business model where a small workforce operates in a traditional office space while the rest of your virtual team works remotely. With cloud networking and cloud-based storage, it’s easy to communicate with employees and keep all of your projects on track and easily solve any issues as they arise.
Virtual Office Spaces are leading the Way
With technology advancing all the time and global communications becoming quicker and more accessible, virtual offices in Singapore are now the first choice for leading SMEs. With so many different elements to take advantage of, more companies will begin to make the shift to virtual space and services. Don’t get left behind, move with the times and grow your business.