Startup-friendly Office Option: Virtual Office

The initial costs of starting a new business can be too much for the modern-day Filipino business owner, and not to mention that a huge portion of the initial setup cost is allocated for the establishment of an office space to help begin the business registration process. However, there are different ways one can lower the initial setup cost when it comes to office space & one of these is to get a virtual office.

But first, what is a virtual office? According to Investopedia,

A virtual office gives businesses a physical address and office-related services without the overhead of a long lease and administrative staff. With a virtual office, employees can work from anywhere but still have things like a mailing address, phone answering services, meeting rooms, and videoconferencing.

 

To put it simply, if one gets a virtual office for their company, they automatically get an official address for their business without physically occupying the space they have chosen to get their virtual office from.

This is a great, cost-effective setup especially for startup companies who are processing their business registration papers, have not begun operations, and would not need to occupy a physical office just yet.

Also, due to COVID19, a good number of the workforce, especially those from the Business Process Outsourcing(BPO) industry here in the Philippines, have already decided to go fully remote. In fact, in Cebu City, a lot of office spaces have been vacated by tenants who used to occupy at least 2,000 square meters. These companies have chosen to downsize, in order to get rid of office space they are not using and control the overhead costs. However, these companies would still need to renew their business permits. Renewing the business permit would require them to update their business address and in this case, getting a virtual office is the most suitable, cost-effective solution for them until they are ready to occupy an office space once again.  (Find out how we are moving forward as flexible office space provider in Cebu City)

Suffice to say, the main “pro” of getting a virtual office is the low initial setup cost and the flexibility that it gives to the company as a result of the lower overhead cost .

But what are it’s cons? Well, the most obvious is the lack of physical office space. But if there really is no need for a physical space yet, then this con would not apply. However, should there be an immediate need for an official place where business and operations can be formally conducted, it is up to the virtual office provider as to what additional services they can offer and how flexible they can be when it comes to their services. For example, here at The Company, should virtual office members need a physical workspace immediately, they are allowed to automatically upgrade to a co-working space plan or rent a couple of office seats for a small cost.

In connection to this, we would like to emphasize that in choosing the right virtual office provider, the business owner must always consider the following:

• what their goals are
• what services they would truly need
• what their budget is
• which prestigious business address they want to be registered from, and
• the flexibility of the virtual office provider when it comes to providing the services.

So, now you are now wondering what The Company’s virtual office packages are. Well, we have divided it based on the length of the contract term: 6-month, 12-month, & 24-month term and the pricing is lower if the term is longer.

Additional services that you may add to your virtual office are the following:

• Hybrid Office Space Setup
• Hybrid Co-working Space Setup
• Executive & Private Office Setup
• Dedicated Desk Setup
• Multilocation Co-working Space Access
• Call Answering Services
• Mail & Package Receiving Services
• Mail & Package Handling Services
• Payroll & HR Support
• Recruitment Services
• Meeting & Training Room Use
• Business Matching, Marketing & Sales Services
• Public Relations Services
• Office Fit Outs
• PC Rental
• Legal Services
• Business Registration Assistance
• Accounting & Bookkeeping Service

If you have any questions about setting up a business using a virtual office in Cebu, you may reach out to us anytime.