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Virtual Office VS Coworking Space: Corporate Advantages of a Virtual Office Space

July 20, 2019

For your company to remain competitive, you need to stay in touch with industry trends, highlights, and consumer demands. You also need to attract customers and top talent by offering the services, flexibility, and stability that clients and employees want. Staying in the know when it comes to office trends and workspace can have as big an impact on your company’s reputation, productivity, and bottom lines just as much as investing in a new service or product development.

Virtual office rental and Coworking space are two workspace solutions that have gained interest and credibility in recent years. Have you considered either of these options? Are you struggling to understand both solutions or decide which is best suited for your business? Well, let us expound on these two concepts and then look at the benefits you stand to gain from having a virtual office.

What is Coworking Space?

Coworking space is a physical space typically managed by a facility management company and rented out to businesses and individuals under a variety of different configurations and on flexible agreements. A typical Coworking space involves several businesses and individuals sharing open collaboration space with access to private offices, meeting rooms and boardrooms on a need basis. The renter chooses the services they want to access for a specified durations and therefore only pay for those facilities and services. This option is cheaper than traditional offices but still includes everything you would need in a corporate office. Due to the cost savings and the flexibility of Coworking space, they are typically popular with small companies and entrepreneurs.

What is a Virtual Office?

A virtual office is completely different from Coworking space because they exist virtually as opposed to having physical space. A virtual office takes into account the growing number of employees and companies that are working and operating remotely. If you work from home and consider your residential property as your base for operations, it is not always convenient for conducting business. A virtual office gives you freedom from expensive commercial rental fees while enjoying the advantage of a corporate mailing address and physical location to associate with your business just as you would with a physical office. Paying a small service fee for a virtual office allows you to access services, a communication address, and mailbox for your convenience.

Benefits of a Virtual Office for Your Corporation

Not sure how a virtual office service could serve your venture? Here are some of the many reasons companies are opting for a virtual office in Markham to enhance their business operations:

Cost Savings

A virtual office offers immense cost savings over a traditional physical office. At just a fraction of the cost, you get a prestigious business address without having to pay exorbitant rent. Having a virtual office also means that you reduce your cost of commuting, office equipment, and transportation, utilities and office maintenance. You also do away with relocation costs, the cost of having a full-time receptionist, work attire and all other costs associated with having a physical office. You can then use these savings where you need them most – to grow your business.

Better Work-Life Balance

Virtual offices give employees a chance to work from any location in and out of the country including in their home. Not only does this help employees cut their costs, but it also gives them more flexibility and allows them to have a better work-life balance. Naturally, your employees will be happier and more satisfied which also reduces employee turnover.

Makes Your Business More Professional, Legitimate and Credible

Virtual Office VS Co-working SpaceClients appreciate the stability, flexibility, and options afforded by professional office space. One of the main advantages of a virtual office is that it gives you a prestigious business address that would otherwise be very expensive. This address helps your business establish a credible, legitimate and professional business image with prospects and clients. Additionally, having a virtual office address and professional mailing address in a well-known area relevant to your business increases trust and creates a positive impression on the business. Most of all, you can have a virtual office address in any city depending on your target market. And even if you only use the virtual office and never enter the shared workspace, it can add to the viability and validity of your business to prospective clients and customers.

Eliminates the Need to Relocate

A virtual office gives you the liberty and flexibility to work from any location on the globe. You do not have to live in commuting distance away from the office address or have to commute every morning and evening to perform office duties. You could work from home, on a park bench or in a coffee shop in your area. All you need is a reliable internet connection.

Facilitates Expansion

A virtual office is not limited to physical space. Therefore, when you decide to expand your operations, you do not need to move to a larger office with higher rent fees. All you need is to induct new employees into your virtual office and carry on. The same case applies when you need to move the business to a new prospective part of the country. You could even have several offices spread out across the country without the need of having a physical presence in the area.

Better Business Support

Virtual office packages include a variety of extra features to support your business so you can solely concentrate on making your business grow. These services include communication options and business support services such as an Executive Assistant, Printing/copying, scheduling, Web Design & Hosting, Digital marketing, Bookkeeping and support for your computer hardware & software, including safe storage of your data. All the services generally associated with a corporate back office can be provided, with convenience, and at a competitive price.

Affordable Office Solutions

Get all the business services you need, with a customized office package that is as flexible and modern as your business. From long-term shared office space rentals to short-term drop-in arrangements or completely remote services, the team at Officescape Canada Inc. can tailor a package to support your company. Our office space is fully furnished and a welcoming environment for you to network with other industry professionals, land a new client, or simply use as a virtual location.

Contact Officescape for virtual office services in Markham or to find out more about shared office space by calling 647-557-1693. You can also book space now or reach out to us online.

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