If have a start-up business, you’re probably running a pretty small operation; not a lot of employees, limited capital and a lot of work to be done. You might be operating the business out of your home, or you could simply have your current employees all working remotely and connecting digitally.
But that set-up won’t last for long, especially if the company grows. You will eventually have to get some office space. In the past, that meant securing full-time office space and signing a long-term lease. But in the digital age, many businesses are now using virtual offices.
So which option is better for your start-up? Let’s compare and contrast the two:
Lease vs flexible rental
A lease provides security: you know that you’ll have that office space for a long time. And if you want full-time dedicated office space, a lease is really your only option. However, if you determine during the course of your lease that you want to move to a new office, they can be very difficult or expensive to break.
With a virtual office, you are basically renting a part-time office; but if you’re a start-up business, you may not need an office for 40 hours a week. And with a virtual space, you get flexible renting terms – you can rent a virtual office for as little as a month or week at a time, and at a much cheaper price than a lease.
A professional business address
With both leased office space and a virtual office, you get a professional business address you can put on your business cards and use for mail and deliveries. However, if you lease office space, there may not be anyone there to receive any important packages or documents (unless you hire a receptionist). But almost all virtual offices come with a virtual receptionist, who is always present during normal business hours.
And speaking of that receptionist, it’s one of the major perks of a virtual office. With a virtual office receptionist, you get all of the perks of an additional employee without needing to actually hire one. Some virtual offices even come with virtual assistant service; a virtual assistant can take care of clerical jobs for you on an as-needed basis, usually for a small additional fee.
Unless you absolutely need an office available for 40 hours a week, the choice is clear: for your start-up, a virtual office provides all of the services you could need, but at an affordable price and with no long-term commitment.