8 Reasons to Rent a Physical Business Address
In today’s small and start-up business environment, two trends are going hand in hand.
The first trend is for more and more small business owners and start-ups to forego a traditional office. Instead, these companies are opting for a virtual office with a physical business address.
Second, even before the pandemic, remote work was becoming more and more popular. In fact, over the last 12 years, remote work has grown 159%!
It’s here to stay too. 94% of remote workers don’t want to return to the office full time and 61% prefer to be fully remote. Pre Covid-19, there were 16.8 million remote workers in the U.S. By 2025, that number will top 36 million.
Let’s take a look at the way these trends work together and the benefits of having a virtual office with a fixed location.
1. Reduced Fixed Expenses and Overhead
With no fixed office rental, no monthly utility bills, no insurance, and no hardware, costs for small business owners are dramatically reduced.
You’ll be saving money that you can use to hire talent or pass along savings to your clients.
2. A Physical Business Address
With so much of the business world becoming remote and virtual, there are still big benefits in having a physical business address.
For you and your team, a commercial office lets you schedule in-person meetings, takes advantage of personal assistants to handle phone calls and mail, and uses the office’s technology as needed.
3. Remote Work: No Commute
Using the office only when you need to equates to big savings in commute time.
No getting ready and dressed for work every day, no commute time, and less daily expense. That adds up to big savings for you in time and money!
4. Productivity Increases: Turnover Decreases
When you switch to a virtual office with a physical address, expect an increase in productivity.
The added flexibility lets employees meet their goals while maintaining a good work/life balance. And that translates to happier employees.
5. Technology Gains and Savings
You’re not responsible for maintaining an office full of the latest technology, so you’ll save hard-earned dollars. When you need the office, it’s there, ready and waiting.
6. Attract Top Talent
Virtual offices let you hire the people you need, no matter where they are. Since most of your work is remote, your IT manager can be based in Singapore. You aren’t limited to people who can come to the office every day.
7. Increased Privacy
You can use your virtual office’s physical address as your company’s legal address. This lets you keep your home address and information private.
8. Professional Appearance
Because virtual business addresses are most often found in business districts, you immediately are establishing credibility with your clients. That’s reinforced by using the physical address on your letterhead and communications.
A Great Alternative to Traditional Workplaces
With the ongoing shift to remote work, a virtual office with a physical business address and facilities is a smart alternative to a traditional office for many small and start-up companies. You’ll save money and become more efficient!
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