Why Businesses Today Prefer Virtual Offices?
Virtual office space in Melbourne is anything but a tangible workplace. It is basically a co-working space that provides its address and phone number to businesses for official use. Unlike a physical office, a virtual office does not demand the actual presence of employees every day at the workplace. It works on the more flexible, work from home model.
A study by OWL Labs states that 69% of millennials will give up other office benefits for a flexible workplace. On the other hand, it also says that 60% of the workforce in Australia presently works from hybrid (half physical half virtual) or fully remote companies. Hence, there is already a visible shift towards this workplace model. Understanding this concept and analysing it, is thus a necessity.
While virtual office seems like a bizarre concept, there are several advantages that these entities offer over traditional office spaces. Some of these are as follows.
- Distinguished Brand Reputation: A virtual office is usually provided by coworking spaces or offices situated in the business centre of a city. These spaces let business owners use their phone number, email address as well as the physical address. Since, these physical offices are already reputed, using their contact details and prime location augments your brand value. This sets the perfect first impression for your business in the eyes of potential clients.
- Lower Expenses: A physical office where employees are expected to be present daily has various overheads. Expenses on electricity, equipment, infrastructure and more are consequently eliminated in a virtual space. Moreover, employees do not have to bear transportation costs either as the model mainly relies on work from home. Even the rental charge for a virtual office is almost half the rent value of a tangible office. These are therefore more preferred by small businesses and freelancers who cannot afford high office rents and expenses.
- Business Expansion: The virtual office model works flawlessly for companies based in other cities, states or countries. An office situated in the USA can thus have an office in Australia. Additionally, the company also gets a local phone number that can be redirected to their existing numbers. Accordingly, expanding to other places, without having to purchase an actual office space there, becomes easy for a company. The owners can also rent meeting rooms and offices when present in the region of the virtual office and hold meetings with local clients.
- More Business Opportunities: By investing in a virtual office, business owners and employees become part of a small business community via coworking spaces. This opens the corridors of more business opportunities for the firm. Virtual office renters can meet office sharers when they visit the coworking space or garner information and connect with them virtually as well. Workshops held by shared workplaces also help in this process.
- Enhanced Client Meetings and Business Conferences: A small business owner or a freelancer might not have a professional place to hold client meetings and conferences. Investing in a virtual office assists greatly with this aspect. One can book meeting rooms and personal offices when required in the shared office location. This creates a professional aura around businesses and helps them convert more patrons. Besides, the cost of renting these spaces for a short period of time is much lesser than having to maintain them on a regular basis.
- Easy Company Registration: A genuine business address and local contact number facilitate registration with the Australian Securities and Investments Commission. Legal formalities of forming a company and getting it recognised by ASIC are thus smoother, making company registration a hassle-free affair.
- Increased Productivity: As per research by OWL Labs, the aim of renting a virtual office in Cheltenham, Melbourne has shifted towards productivity and focus. Only 14 % of the people surveyed chose remote working for reasons such as better work-life balance. This positive shift is a result of working in more comfortable environments at flexible and productive work hours. Furthermore, transportation times are eliminated which leads to an increase in work rate. Provisions of email and phone handling by dedicated people also enable this enhanced efficiency. This assists in saving time spent on replying to emails and answering unneeded phone calls.
- Stress-free Work Environment: A virtual office provides the benefits of a flexible and comfortable working environment. In a world where mental stress is increasing every day, working in peaceful atmospheres of home are encouraged. As per a study, those who work remotely at least once a month are 24% more likely to feel happy and productive in their roles. This increases employee satisfaction and retention. Above that, 97% of workers believe that flexible work conditions will have a huge improvement in their quality of life. This truly makes virtual offices the more favoured alternative.
All the above pointers go on to prove that virtual offices are the workplace of the future. Hence, renting one now is extremely favourable for business growth.
If you are a freelancer, business owner, an international or national organisation that wants virtual office space for rent, there is none better than Cheltenham Coworking. Our shared office space is situated at the heart of Cheltenham. Additionally, we provide access to fully-equipped meeting rooms, private offices, hot desks and more for rent as per your convenience. We boast a vibrant community with many networking opportunities and provisions of the phone and mail handling. Call us today +61 38521 0666 to learn more today or Book Now.