Renting a dedicated physical office space can be costly, even more so in a city like Singapore. In fact, The Garden City is ranked in fact the 14th most expensive place for commercial rental in the world, ahead of the likes of London and downtown New York.
For businesses that are just getting off the ground, operational costs would be a critical consideration when it comes to company expenses. Most new companies will want to have the flexibility and avoid having to sign a long-term leasing commitment. This is when a virtual office space like the ones offered by Arcc Spaces Singapore can come in handy.
With virtual office spaces, you can go by a monthly subscription that enables you to use its physical address as your own and take advantage of the services and amenities that you have opted for in your package. These can include everything from mail collection and forwarding to call redirection, use of meeting rooms, and more.
However, the advantages does not stop there.
Benefits Of Having A Virtual Office Space In Singapore
If you are not ready for an office space, virtual offices in Singapore provide an array of tangible benefits that will allow your business to thrive in the absence of a physical space. Here are the three biggest reasons for your consideration.
1. No immediate need for an expensive physical office space
In this new normal, CBD office rental prices in Singapore are expected to rise twice as quickly in 2022. Add in the fact that you will need renovate, furnish, and fit out, on top of utility costs – The CapEx and OpEx can quickly deplete funds for companies that are only beginning to grow.
Choosing to go with a virtual office space means you do not need to worry about:
- Spending time to research and find a location and space.
- The paperwork required to apply for a commercial lease.
- Paying expensive rental fees each month.
- Being locked into a long-term lease.
- Paying for and managing the space to be ready for business.
Instead, you be provided with a prestigious address that you can use for your business. The application process is also a breeze, with virtual office packages that can be tailored to the individual needs of your business. And should your package includes it, you are able to network and hold meetings on-location, where you can create great first impressions with your clients and have a professional environment where you can hold your meetings and functions. Virtual office packages are often offered in monthly subscriptions where you won’t be locked in for an extended length of time. You can review and revise your terms to fit your business requirements at the time.
2. Tap into a global workforce
When you are not operating from a fixed point, but rather have a virtual office, this effectively opens up a bigger talent pool for your business. You have the opportunity of building a global team that is not restricted by location, and you can focus on acquiring talents based on the needed skillset. You have the potential to stay ahead of competitors in more ways than one, and be able to offer the appeal of remote working to candidates that require flexibility as a means of retaining talent.
3. Increased productivity
While a traditional office requires employees to be present on all work days, a virtual office allows employees to work from anywhere in the world that is not limited to Singapore. This flexibility can lead to increased productivity, as employees are no longer limited by geographic boundaries. Additionally, your team can opt for business support where needed, to ensure all day-to-day tasks can run smoothly without having to physically show up. Virtual office packages also come with current telecommunication and computer systems options as well as meeting rooms usage, which will help with collaborative working when the need arises.
Get A Virtual Office Space With Arcc Spaces Singapore
In today’s business world, more and more companies are eschewing traditional office space in favour of virtual offices like the ones offered at Arcc Spaces Singapore.
With more than one virtual office space providers available in the market, you may want to compare the services provided and tailor one that fits your business requirements. Look up the clients’ testimonials or learn more by getting in touch with the customer service team.
Find out more about Arcc Spaces’ hospitality and design-led workspace experience, as well as our virtual offices in Singapore.