There are plenty of reasons to launch a business in Singapore. Not only does the region boast beautiful landscapes and a vibrant culture, but it is also home to a thriving tech market. It’s something that hasn’t gone unnoticed by entrepreneurs, who are flocking to its cities and setting up new companies.
Regardless of how much capital you have to invest, relocating for a launch or expansion is a big challenge. There are lots of obstacles to overcome, and many of them are associated with money management and careful spending. While Singapore is very friendly to small businesses, office rates are high, and this expense alone can take a chunk out of your budget.
Fortunately, virtual offices provide a flexible solution for business owners with limited funds.
No More Sky High Fees
It’s important to understand that a virtual office is everything but the physical office. Nevertheless, tenants get the same essential resources that they would with a conventional lease. In fact, they usually get a lot more, because virtual vendors are very special.
They provide a centralised support system for small business owners who cannot afford or do not want a full-time office. All tools and equipment (phone lines, admin assistance, IT support, communications software, etc.) can be accessed remotely, from a location of your choice.
Say Goodbye to Overheads
When you go virtual, overheads are virtually non-existent. You’re not paying for a full-time, private office, so it isn’t your responsibility to light or power it. You don’t have to worry about keeping it clean, maintaining networking equipment, or buying ergonomic furniture.
There’s just that single monthly payment, plus any ‘one-time’ extras you choose to include. It’s a privilege that shouldn’t be underestimated, as logistical costs are a big challenge. It is expensive to secure, decorate, and fill a traditional office with everything you need.
Escaping the Commute
When in a rush to benefit from these minimal overheads and low rental rates, it’s easy to forget all of the other areas where you can save money. Think about how much time and cash you’ll accumulate if you don’t have to commute into the office every single day.
For those with small teams, the benefits are multiplied. Whether you usually travel by car, bus, or train, remote routines and virtual offices can give you that time back. You don’t have to visit the office in person unless you have good reason to.
Dabbling with Remote Work
There is a clever and very innovative way to save even more money while working from a virtual office. You can make your employees ‘virtual’ too. This is a relatively new idea for most businesses, but smaller companies tend to be very well suited to off-site remote routines.
Operating independently won’t suit all personalities, so it’s important to pick your team carefully. Remote workers need to be trustworthy, determined, and disciplined. Check in regularly, regardless of how well they are perming because consistent communication is key.
Why Virtual Offices Are Worth Your Time
The great thing about virtual providers that they don’t discriminate when it comes to tenants. Your business doesn’t have to be a particular size or part of a specific industry to benefit from their services. Nevertheless, smaller companies seem to suit flexible workspaces the most.
This is because they are naturally agile and better able to adapt to remote routines. Being powerful and cash-rich is no longer a requirement for success, especially when resources like the virtual office are around to help you find clever shortcuts.