The development of the digital world has been immense in the last decade. Various factors are the reason behind this development, but the main cause of it remains the COVID-19 pandemic, where the world was forced to rely solely on technology and innovative digital tools to work.
But with this change, the operations of the working sector changed drastically. People have increasingly started working remotely, even after the world has opened up, and have started rethinking the concept of physical space. This change has led to the increasing popularity of virtual offices.
What Is a Virtual Office?
A virtual office provides companies and organizations with physical addresses even though their business is remote. The physical address enhances the company’s credibility and saves the company the cost of physical space.
Using a virtual office’s services helps achieve better productivity because employees can concentrate on their tasks without the stress of administrative work and commuting. They can work from anywhere they want and still have access to things like reception support, mailing addresses, on-demand meeting rooms, and conference space.
How Do Virtual Offices Work?
Virtual offices function as one unit in order to serve clients, but they do not exist in one particular location even though they have a physical mailing address. The development of videoconferencing and messaging software and working from home becoming a necessity (during the pandemic) created a shift in the working sector and led to the popularity of virtual offices.
Virtual offices are more cost-effective than traditional offices; hence, they have become popular amongst startups and small businesses. It helps them minimize overhead and focus entirely on their business development.
Why Do You Need a Virtual Office?
Virtual offices helps organization to carry business operations without any worry about miscellaneous work. There are a few common reasons why one would look for a virtual office, and they are given below:
- New Business Registration
- Physical Address for Business
- GST Registration
myHQ Plans for Virtual Office
There are many reasons why one would look for virtual offices. Listed below are some of the plans offered by myHQ
1. New Business Registration Plan
With this plan, you can register your business at premium addresses in any city in India without acquiring physical space. It is essential to have an address to make your business look credible, and with this plan, you can achieve that.
It is ideal for new registration for a new company registration address, GST registration for a new GST registration for an additional place of business (APOB), new GST registration, and more. It also provides a mailing address for courier and mail handling, letterheads, and lets you add the premium address on your business cards, among other things.
2. GST Registration Plan
Registering for GST is beneficial and compulsory for businesses that cross an annual turnover threshold limit. This plan not only provides GST registration but also allows you to expand your existing business to new states in the country with GST registration for APOB and more. It also gives you access to a mailing address for mail and courier handling services, letterheads, addresses on business cards and websites, etc.
3. Business Address Plan
Get a professional business address for your company in prime locations with this plan. It is understood that prime locations can make your business look legitimate and attract clients, and with this plan, you can garner attention. It also provides a mailing address for mail and courier handling, an address on business cards and websites, letterheads, and more.
What Does a Virtual Office Look Like?
The cornerstone of a virtual office is the address, and this forms the core of all the virtual office plans, ranging from basic to premium. The address is the key feature because it serves a large number of business needs. It lets you open a bank account, receive mail, register your business, obtain business licensing, use the address for your card and website, and more. You get all these benefits without even having to visit the registered location.
For example, let’s say you buy a virtual office at 2-A/3, Kundan Mansion, Asaf Ali Road, New Delhi. To the outside world, this is your business address, even though you have never and will never have to visit the building.
This is the part you really need:
| 2A/3, Kundan Mansion, Asaf Ali Rd. New Delhi Delhi 110002 |
What Services Does Myhq Virtual Office Offer?
There are numerous services provided by virtual offices, though they vary greatly depending on the virtual office that you choose to work with or the package you select.
With the services provided by myHQ Virtual Office:
- Cost-effective: You can get access to a cost-effective virtual office to take your business to new cities. If you find a cheaper solution, myHQ will match it with an additional 5% discount.
- Largest Coverage: myHq virtual office listings have a pan-India presence, and hence you can own a virtual office in any major city. You will be provided with a premium business address of your choice from myHQ listings across India.
- Hassle-free experience: You will be provided with end-to-end mail handling and business correspondence. They have the fastest document delivery service, with an average 72-hour time for document delivery. It offers a hassle-free experience with a 100% digital process that eliminates the need for compliance checks or unnecessary phone calls.
- Business Support: The plans are affordable and customized to suit your business needs. You will get access to meeting rooms and client engagement services. MyHQ’s reception support is excellent, resulting in a positive representation of your company.
To give you a better understanding of what you are signing up for, listed below are the advantages and disadvantages of virtual offices:
Advantages of Virtual Offices
The various advantages of Virtual offices are as follows:
- The monthly cost of a virtual office is more manageable than that of a physical office.
- There is no need for maintenance or housekeeping staff.
- A virtual office can be secured on a monthly basis instead of being bound by a lease.
- A virtual office provides business registration services, handles mail and call answering, and offers videoconferencing services.
- With the services available, a small business or startup can appear larger.
- The availability of premium locations makes the company look prestigious, especially to a virtual user.
- Envelope opening and scanning services are also provided.
- arrangement of fully serviced on-demand meeting and conference rooms
- Teams that work virtually tend to have the benefit of more free time and flexibility.
- access to global talent.
Disadvantages of Virtual Office
If you are a remote company, and looking for virtual office just for Physical address, then your team might be little stressfully, since they cannot work at the same place.
Working remotely is not easy for every team, especially if it is happening full-time with no in-office days. Some teams just work better in an office setting, especially if their tasks are difficult to conduct virtually.
Not being able to get to know each other and establish a more personal relationship is probably the biggest con of working remotely. While plenty of teams are just as productive working remotely (if not more so) than in the office, that may not be true for all teams.
Each business is unique and different from others, so the services and combinations might differ too. Keeping in mind the pros and cons of virtual offices can be helpful in determining which path you might want to walk down.
FAQs on Virtual Office
The frequently asked questions on Virtual Offices are as follows:
What are virtual office services?
Virtual Office Services are benefits provided by the virtual office where you choose to register your business.A few services provided by virtual offices entail professional reception support, mail handling, a virtual office assistant, furnished on-demand meeting and conference rooms, and more.
What is a virtual office assistant?
A virtual office assistant is an independent contractor or entrepreneur who works from a remote location and provides assistance to one or more clients from various industries. They do the same work that office assistants do, like booking appointments for clients and managing the database.
What are the benefits of a virtual office?
First and foremost, a virtual office helps save money. The capital of a physical space can be used for your business instead. You can get access to global talents, which might help develop your business. Having a prestigious address on your business card and website will make your business stand out. Lack of commuting and administrative work will boost your employees’ productivity. To learn more about the benefits, read the “advantages of a virtual office” section of the article.
We hope this article on virtual offices is helpful to you. For more information related to startups, coworking spaces, and virtual offices, subscribe to myHQ Digest.