As the worlds financial markets collapse, owners and renters of virtual office space are looking at a brighter, healthier future.
While world governments from London, New York and Tokyo to Toronto, Paris and Jerusalem stream billions into the financial and banking systems to avoid a financial catastrophe and with all the uncertainty, doom and gloom surrounding the markets, Simeon Howard, sales manager of City Office remains confident about the future.
Serviced, executive office space, is essentially a low cost office solution where by you can move into a small office environment without having to commit to a long term lease plan. As for Virtual Offices, it’s essentially a business centre which allows you to work remotely, by using a providers’ business address and receptionists, without having to actually have physical office space at that location.
When mixing the entrepreneurial spirit with the credit crunch recession the results can be stunning.
If it wasn’t hard enough to get a business off the ground in a credit crunch recession, it seems hardly surprising to hear that entrepreneurs and start-ups are looking to their spare rooms to set-up shop.
James Knight, an avid entrepreneur agrees, “Not everyone has the capital investment needed to get their ideas off the ground, never mind having the luxury of being able to work in a prime office environment. At a cost of £79 per month, I was running my business from a Mayfair, England UK address and having a receptionist answering my phone calls in my company name”.
Virtual Offices in prime locations around the globe, are offering their clients the use of their own addresses as a business service. Clients can publish the address on corporate stationery to marketing material, as if it were their own. The clients mail arriving in, can be held for collection, or forwarded to any location around the world. Additional services such as meeting rooms for conferences and virtual receptionists are also available.
“We live in a high-tech world where boundaries are being bridged to give the end users flexible working environments, without the overheads,” says Howard. “At roughly 5% of the cost in having physical office space, it’s definitely a great way to get started.”
According to Howard, “Virtual Offices are fast becoming the essential business service in a credit crunch recession, but not just for entrepreneurs and home workers looking to start-up.” “Lets not pigeon hole this virtual real estate service as only for micro-business, our SMEs and large corporations, some of which are NASDAQ listed, make up around 40% of our client base. It’s a great way to expose services from hi-tech, consumer, fashion, health, financial, gaming, government, education and security to emerging markets or sectors, enabling businesses to expand internationally, with a limited risk factor.”
He continues, “Our services lend a more established image to small and medium sized businesses and with the savings incurred, can help free up the capital needed to advertise and employ additional staff.”
Howard concludes: “In these challenging days where we face the hard realities of a credit crunch recession, these are the major factors for growth in a successful business. Going Virtual, whether it be through the Internet and or through the renting of virtual office space and executive services is a practical way of making that happen.”
“The world is more connected now, more globalised, and as a result, world markets are in a stronger position to act on what’s needed to curb this slide. I think it’s important to get some perspective on the whole situation, what’s happening in the markets is somewhat of a cyclical event – a sort of re-birth if you will”
With the current global climate, it’s hard to see where Simeon’s enthusiasm comes from, where’s the light at the end of the tunnel?
Howard goes on to explain: “You need to look at the domino effect here. We’re seeing huge lay-offs and down sizing. The reality is that some of the people being made redundant are either starting up their own business and getting themselves some small serviced, executive office space, or they are working from home and getting themselves Virtual Offices”?
“At the other end, business employers downsizing their staff, consequently downsize their larger conventional office space and get themselves smaller office space with flexible lease plans. F or a business owner, it’s imperative to keep cash flow solid and to ensure that instant relief can be made by not committing to any long term overheads”
Our City Office maintains virtual offices and executive services in New York and throughout the UK in London, Birmingham, Bristol, Kent, Leeds, Liverpool, Manchester, Nottingham, Aberdeen, Edinburgh, Glasgow and Reading.
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