We have gotten this question quite frequently from our clients, often they confuse virtual office with physical office space. Now what really is the difference between a virtual office and a physical office space? Both come with their own advantages and drawbacks; and either can be highly beneficial depending on the nature of your company. In this article, we will explain what virtual and physical offices are and what they can provide for your business.
A virtual office is an address, a legally verified location listed in a professional office building. This address can be assigned to your business, which allows you to use it for registration to any official government bodies. You may also use it for parcel and mail delivery, as well as listing the address online or in your advertising materials.
Although that may be so, a virtual office also gives you access to a remote office space and business related services without the need for a long office lease. With a virtual office, you can get access to a coworking space, meeting rooms, phone answering services, and mail & parcel delivery. This provides you with business essentials while not requiring your employees to report to the same place every day.
One of the primary reasons companies opt for a virtual office is when they may not have a business address or an office building to use. Which is how it has gained popularity in small businesses and start-ups. Virtual offices are ideal for those who want to work from home or on the road, but at the same time want to maintain a professional image. Not only do you get a business address, you also get access to physical office services that tenants could enjoy.
A physical office needs little explanation, it is the traditional concept of an office environment which we’re all familiar with. Perfect for companies that require face-to-face everyday tasks in a business setting. Despite the hype around virtual offices, many still prefer to stick with getting a physical office. Although it may still largely depend on the business type, culture and fund availability.
The major reason why companies prefer a physical office is how it provides a more professional atmosphere that instils and strengthens an organization's goals. As well as the ability to provide a space where workers can separate their work life from other life aspects.
What Should I Opt for?
It will ultimately depend on what stage your business is at. For those just starting up and looking to save money, a virtual office may be the right choice. Virtual office allows you to opt out on rent expenses while still having a professional business address, so as to maintain your brand image. It is perfect for those who aim to cut down on cost while concentrating on growing and planning for their business future.
For a traditional business, a physical office is most likely the right choice. Businesses that focus more on hands-on activities and require their staff to regularly collaborate would need an office space to work with. Other factors such as better technology is also something to look into for a physical office. While both virtual offices and physical offices have amazing benefits, ensure that you consider all factors and choose the option that best fits your business.