How Virtual Offices Can Boost Your Business
Posted on October 24, 2016 by Franco Alvarez
There’s a growing number of businesses taking advantage of a new office solution—the serviced office. In fact, the serviced office sector, which includes virtual office services, represented 12% of the global market in 2012 according to Emerging Markets Serviced Office Review 2013.
The rise of serviced offices came as no surprise given its cost effectiveness and capacity to redefine the way employees work. One type of service office, a virtual office, allows companies to take their business to where the market is. It enables business promotion anywhere to meet sales forecast. The virtual office setup offers creative solutions and ideas, which can enhance a company’s professional image.
These factors pushed the adoption rate of virtual offices not just in Western countries, but in their Asian counterparts too. It becomes a viable option for local enterprises whose aim is to boost their business or launch their startup with a limited budget. It’s an ideal setup for foreign businesses looking to test the water in penetrating the Philippine market.
If you’re a foreign or local company, a virtual office in the Philippines can help boost your business with the following:
1. Have a registered business address
A business address is needed for your company’s operations. It is required by Department of Trade and Industry (DTI) and the Securities and Exchange Commission (SEC) for business registration.
Virtual offices lend their address for your use. This allows you to reach your local market better, increase client base, attract discerning investors, and be perceived as a well-established venture.
2. Mail handling and call-taking services with notification
Most virtual offices have staff members who work 24/7 to receive your mail and packages and handle calls and messages meant for you—all of which ensure that you’ll be regularly updated about all business transactions. This way, you can respond in a timely manner and avoid missed opportunities to serve your customers’ needs.
3. A dedicated phone line with a Philippine number
Your company will be given its own number, complete with a valid area code that can help your customers see you as a duly recognizable entity. Better market reach can also be expected, as customers can easily contact you for inquiries and other concerns. It improves your internal processes and establishes a good customer experience.
4. Use of conference room and other areas
Some virtual offices are fitted with regular office facilities like meeting rooms and lounge spaces. You can use these for free or as part of your rental package to meet with your clients, discuss important things with your staff members, or hold a pep talk with the rest of the team.
5. Customizable packages depending on clients’ needs
Proper allocation of resources is a key factor in sustaining your business. The best thing about a virtual office is its flexibility in terms of size, duration, and inclusions that you choose, depending on your company’s needs.
For instance, if you’re handling a short-term project, you can always go for the daily rate package, and extend if you need to by the time the contract lapses. You can increase or decrease the number of staff assigned to your virtual office to match your budget and necessities. None of your resources are wasted with a virtual office.
6. Acquire local talents
Hiring locals will not only ensure that you’ll have enough staff to handle the day-to-day operations of your business, but working with them in the virtual office will help you get to know more about the corporate culture in the local setting. This way, you can fine-tune your strategies to suit the preferences of the local market better.
7. Lower your market entry cost
Establishing a virtual office is way easier and cheaper than building a traditional office from the ground up. You won’t have to worry about going through complicated business registration procedures or paying costly registration and building construction fees. The sooner your business takes off, the better.
8. Expand your market reach
If you have plans to venture out into other markets, you can do so by having a virtual office in your target location. It’s a good first step to announce your presence and attract customers in the local business scene.
Whether you’re a local or a foreign business player, having a virtual office for your company is one of the best, most convenient, and wisest business decisions you could ever make.
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Franco has always had a passion for entrepreneurship. Even at a very young age, he would constantly find an opportunity to make a little cash on the side. May it be selling women’s bracelets made out of safety pins and cheap stones or writing research papers for his rich classmates who didn’t want to study, he took advantage of each chance he got. Now, as a father of three and a full-time entrepreneur, he believes that there is always an opportunity to be of service to your fellow businessman. All you need to have is the right intention, and the proper skill set to be of help to others. In his downtime, he and his wife find new things to distract their kids with.