Whether you own a business in Sydney, Tokyo, London, New York, or Hong Kong, rent is likely to be your biggest expense. In central districts especially, rates rise at a relentless pace, and it isn’t unusual for smaller companies to be priced out of the market.
It is a big problem in Hong Kong, a region that is home to the most expensive office spaces in the world. You have to be cash rich to become established here. Or, you must be clever. Over the last five years, younger businesses have developed a novel solution to this old dilemma.
It is called the virtual office, and it makes corporate resources available, without the need to pay for a full-time lease. Visit www.servcorp.com.hk/en-virtual-offices/ to learn more.
Virtually No Overheads
The special thing about virtual offices is the lack of physical space. This leasing model is not designed for allocating privately rented environments. Instead, the central facility operates a kind of ‘cloud’ office system that tenants pay to access.
Using a combination of online and telephone contact, you can ‘check in’ to your virtual office at any time, from any location. You can get updates on phone calls, voicemails, letters, memos, and more. It’s just like running a regular office; only you don’t spend the day there.
So, by eliminating the burden of physical space, you also get to rid your business of heating, lighting, cleaning, and a host of other expenses. You don’t need to care for employees because anybody you work with will be in their own location.
There are no rent payments. There is nothing to pay for furniture or décor. Yet, far from having nothing, virtual businesses enjoy all the freedom in the world. With no physical ties, you can use the remote office to take your brand around the globe if desired.
Again, far from being a limiting factor, the lack of physical space can end up eliciting better performance from your team. One of the biggest problems with traditional leases is the focus on rigid schedules. They are mostly concerned with whether or not employees are present.
Yet, this doesn’t answer the question of whether they are spending their time wisely. Simply being in the office doesn’t guarantee productivity. When you go virtual, the only proof of performance is the literal work. Therefore, it’s easy to see how much effort is being invested.
All Gains, No Downsides
There is no need to worry about the impact of having no address either. In fact, virtual vendors encourage tenants to direct mail and calls to the facility, as if it were their own address. This is a perfectly legal practice. It is entirely up to you how much you want to tell your clients.
It is easy to benefit from all kinds of reputation boost just by associating yourself with a top spot. While everybody else is paying a high price for theirs, you can be enjoying the benefits and not pay any rent. Having a formal, professional address is also handy for SEO purposes.
Why Virtual Office Solutions Are Worth Your Time
Every year, more businesses realise the advantages of going virtual. As rent rates continue to rise in central Hong Kong, it is often the only way for smaller companies to compete. With the support of these vendors, you get to access the same opportunities for a much smaller fee and it will help you save money.
Therefore, the lack of a private, long-term lease does not have to be a negative outcome. In fact, if you take advantage of the many chances to grow and network, it will open up brand new prospects.