Are Low Cost Virtual Offices Beneficial To Start Ups

The measure of setting up a virtual office in Singapore has been steadily on the rise ever since the option was made available to the business sector. However, is the option of going for a low cost virtual office for every business type? As a rising start up, this concern is a valid one, since expenditure is an aspect one has to look out for. To shed light on the subject matter and assist others in making better informed decisions, here are some things to consider before setting up a virtual office in Singapore:

Consider the costs one would incur if one is intent on purchasing or renting a physical office space. Apart from renting the location alone, one would need to fork in extra just for the electricity, cooling/heating, supplies, furniture, hiring of staff and other relevant factors. All the incurred expenditure would add up to an overwhelming amount. For start ups who have just newly established a corporation, that is a huge financial toll they need to shoulder. Compared to low cost virtual offices, which require payment by a monthly or yearly basis, renting a physical location is definitely more costly.

In addition, one of the best things about low cost virtual office service providers is that they are built to cater to the requirements of their clients. Depending on what you require, some low cost virtual office service providers are also fully capable of offering the rental of their meeting spaces or the use of their office equipment at affordable package rates. This means that business owners can maintain a professional reliable image while being able to work in the comforts of virtually anywhere they prefer as long as they take care to rent out the space beforehand.

What’s more, if business owners choose to consider setting up a virtual office in Singapore, most virtual office service providers also offer additional services like facilitating them with virtual office assistants to take care of basic administrative functions. This means start ups will be able to conserve funds and time since they no longer have to immediately hire or train new receptionists. Their administrative tasks are already handled by well seasoned professionals who can eliminate errors and improve overall productivity by informing them of urgent matters. 

While it is natural to be a little dubious about leaving essential business practices to external staff members, business owners should take care not to micromanage. Clear communication between them and low cost virtual office service providers can actually serve to streamline the whole process with ease since it communicates what the business owner expects. Most virtual office assistants are also more than willing to update the business owner either through email or phone calls on a regular schedule so that business owners can be up to date with all that is currently going on.

Another beneficial factor of using a low cost virtual office is that business owners can enjoy the same reputation and trust earned by other corporations without having to buy an actual office space. By setting up virtual offices in important business districts, this allows other corporations to trust the startup more and be more willing to either offer business opportunities or collaboration.

A low cost virtual office is also well known for it’s flexibility- business owners can enjoy the option of renewing virtual office services on a monthly basis so that they have better control over their finances. They can decide to stop using the services after the agreed upon months without any strong repercussion or loss as long as the contract have been monitored by both parties.

Setting up a virtual office service in Singapore is also ideal for business owners who own multiple chains in different parts of the world and require frequent travelling. This is due to the fact that virtual office assistants are highly trained to take calls on behalf of the business and forward only important ones. They are fully capable of handling basic inquiries from the business owner’s clients. Business owners can also be rest assured that all important letters, documentation and packages can be received on their behalf and stored safely for collection. This saves business owners the stress of having to anticipate information since they can communicate how often they wish to receive alerts on important documentation, if they wish for it’s contents to be scanned and emailed to them, as well as what collection methods they want to make use of.

In conclusion, the benefits of setting up a virtual office in Singapore seem to carry more advantages than inconveniences. However, to truly be able to reap the full benefits of what low cost virtual office service providers can offer to all business owners, corporations have to learn to adjust to doing so. Most virtual office service providers offer their services in the form of packages that are set in affordable rates. For business owners who wish to sign up for low cost virtual office services, it is advisable to compare the rates as well as services included within the package so as to figure out what best fits your current requirements. It is also prudent to check for the locations the virtual office services are established at to avoid choosing one that is situated in a dubious location. To prevent incurring hidden costs or price hikes, communicate with the service provider and read through the contracts as well as terms of service that is provided to you before signing up for one. Choosing the right virtual office service provider may take up some time as well as research but when one is able to do just so, one will be able to experience the true quality of their service and assistance!

Of course, these are only just some advantages setting up a virtual office in Singapore can bring to start ups and SMEs. If you are considering signing up for low cost virtual office services, then you are highly recommended to do so with local virtual office service providers!