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The concept of a virtual office is centered toward the sharing of resources to reduce the cost and facilitate the improvement of business mobility. One of the significant ways to minimize overhead costs when starting a business is to use a virtual office. A virtual office provides an allowance for remote operation and a registered business address at the same time. Typically, entrepreneurs often look for a virtual office that offers the best value for money. To be at the top of the industry, businesses must ensure flexibility in terms of locations and clients. The better they can operate anywhere and at any time, the better they will be able to exploit new markets while serving current customers and securing new ones at the same time.

What Is a Virtual Office?

A virtual office is a platform that gives businesses a physical address and office-centered services without the stress of spending large sums of money on administrative staff. Virtual offices enable employees to work from any location while at the same time utilizing the infrastructure of a corporate organization such as telephone and messaging services, meeting rooms, mailing address, video conferencing, and many more. Virtual offices provide greater flexibility at a lower cost.

Virtual Offices in Singapore

Singapore, as a business hub, has made it attractive for local startups and SMEs to boost their business and expansion plans in the region. However, the other trend that continues to rise in Singapore is that of rental space price. Singapore has one of the most expensive rental space markets in Asia with an approximate rental growth of 22% every year, making it difficult for expanding companies to find office premises that are affordable and facilitate maintenance of a professional image.  Due to this fact, organizations are now looking into unconventional solutions to reduce operational costs. Alternative solutions such as virtual offices have gained popularity with companies looking to expand in spite of tight budgets over the years.

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Primary Users of Virtual Offices in Singapore

A virtual office is not only a work space solution amid freelancers, digital nomads, and entrepreneurs who work from anywhere in the world; it is also a creative way of making employees stay engaged without the constraints of a conventional job model.

The primary users of virtual offices in Singapore are the following:

  • Small startups that need a business address at a prestigious location for corporate image purposes.
  • Entrepreneurs who are headquartered abroad, need to show a business presence in Singapore, and do not plan to hire any staff.
  • Entrepreneurs who are operating from home and require an official address for credibility.

 

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How Singapore’s Business Owners Benefit from Virtual Offices

Provides businesses with access to a pool of global talents

A virtual office provides businesses with access to a pool of talents from around the world. It is expected that some traditional companies fear the loss of connection with their current clients and employees when they utilize a virtual office and implement the idea of working remotely. However, this is not necessarily true because, with all the technological and communication advances of today, clients will still feel that they have their needs properly addressed, while employees will always be engaged and be paced with tasks.

Good alternative while searching for permanent rental office space

Virtual offices are also excellent options for startup businesses in the process of setting up and searching for permanent rental office space. They enable business owners to incorporate a company that has a business address and a business card. They also allow the business to start sales and other business activities before the physical office is operational.

Have a professional presence in one of the most prestigious office buildings

By using virtual offices, companies can also have a professional presence in one of the most prestigious office buildings when meeting a client or conducting sales prospecting activities. It gives valuable credibility to a business that may not have the budget to get a permanent office. An entrepreneur who operates from home can seem more professional when utilizing a virtual office to meet a client. A virtual office is the only affordable way for some businesses to acquire an address within key areas at a building prestigious enough to give a definite business edge.

Enable customers to reach enterprises abroad

Virtual offices enable customers to reach enterprises abroad even when the business only has a local presence. It allows a business to become familiar with new languages, customs, and business protocols by relying on the knowledge of the local staff.

An efficient way to create a presence for businesses in new locations

A virtual office is one of the most powerful tools that are available to efficiently and quickly create a presence for businesses in new locations. Utilizing the virtual office provider’s portfolio will rapidly expand the business’s scope while using the same infrastructure worldwide. The company will have a full-time local presence, even when located overseas, and the business will be much more responsive while increasing satisfaction and encouraging returning customers. However, the virtual office system is not meant to displace the role of the traditional office. They are meant to make it easier to work in multiple locations.

Virtual Office FAQs

What are the popular virtual offices in Singapore?2020-12-04T11:24:30+08:00

The popular virtual offices in Singapore are Frasers Tower, The Gateway West, and Ocean Financial Center. 

What do virtual offices in Singapore provide?2020-12-04T11:24:45+08:00

A typical virtual office package in Singapore will provide a business with a corporate business address; dedicated telephone and fax numbers; personalized telephone answering; mail handling; and the use of private offices, meeting rooms, and secretarial services on an ad-hoc basis. 

Is it expensive to maintain a virtual office in Singapore?2020-12-04T11:25:02+08:00

No, it is affordable to maintain a virtual office in Singapore. 

Can foreigners use virtual offices in Singapore?2020-12-04T11:25:18+08:00

Yes, foreigners can use virtual offices in Singapore. 

2021-02-04T16:33:32+08:00March 11, 2015|Comments Off on Virtual Office in Singapore
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