Every year, more businesses take the leap towards remote setups and start incorporating virtual offices into their corporate routine.
Some are older companies trying to find ways to cut costs.
Others are fledgeling ventures with no fear of being unconventional and taking the whole team out of the traditional workspace.
Whatever your reason for considering virtual offices, you’ve probably thought about their impact on your overheads.
Serviced facilities like the one available from Servcorp Singapore are extremely cost effective.
For a low monthly (sometimes weekly) premium, you can claim a prestigious address at a location like the PSA Building, Suntec Tower, or CapitaGreen.
This guide to the cost benefits of virtual offices will explain why this could be the right choice for your Singapore development or expansion.
1. No More Rental Fees
If you’re a lone entrepreneur or a small team, you probably don’t need the facilities of a full-time office.
So, why not cut your costs substantially by accessing one only when you do need it?
This is the magic of virtual workspaces. You can, mostly, just walk right into a fully functioning corporate suite whenever you like.
Your overheads will be minimal if you work in this way because all of the services that you use will be at the optimal level, amount, and duration.
If you don’t need to meet with clients in a private space, don’t pay for it.
On the other hand, if you deal with a lot of customer phone calls, invest your cash in a 24/7 receptionist service.
2. A Fully Flexible Workforce
Virtual offices are particularly well suited to startups who aren’t quite ready to assemble a full-time team of employees.
In the early stages, when the priority should be growth, you can save yourself cash by working with independent contractors.
These freelancers could work from their homes or liaise with you in the collaborative areas of the facility.
Either way, you won’t have to pay them a full-time wage or carry the expense of their day to day needs as you would in a conventional office.
Plus, even when you do start building up a permanent team, a virtual office can help you make the transition.
You could start with one or two days a week spent together and the rest at home, with the view to decreasing the latter.
3. A Winning Corporate Address
With a serviced office, you can access some of the most prestigious corporate addresses in the whole of Singapore.
Even though the users at these facilities aren’t paying to rent the space outright, they are invited to claim the address as their own.
You can have your mail sent to the office (it will be sorted by an assistant), and you can direct all calls to their receptionist.
The power of a great address should not be underestimated.
It is likely to impress investors and convince consumers that you’re worth their time all on its own.
In many ways, it is a bit of a cheat move; a shortcut to a shining reputation, so you can focus on future-proofing the company during its early years.
Why the Cost of Virtual Offices Will Get You Smiling
The corporate culture in Singapore is very friendly to start-ups and alternative business models, so it has become a real hub for foreign investment in the last ten years.
You’ll find some virtual facilities here, all in eminent locations.
They are fully equipped, and all you have to do to get started is sign.
You could be growing your business in Singapore right now from a comfortable, dynamic virtual workspace.