You might have come across the term “virtual office” and wondered how virtual office operates?
Many businesses, start-ups, and entrepreneurs utilize virtual offices in the Philippines to cut back on costs as they scale on their growth. Having a virtual office in the initial stages of your business gives business owners more freedom on monthly payment terms at a lower price than an actual office space. Larger corporations also use virtual offices as a workplace for their remote team as they expand into new and local markets. Discover more about virtual offices and how they can benefit your business.
What is a Virtual Office and How Does it Work?
A virtual office is a service that allows employees, freelancers, entrepreneurs, and business owners to work remotely with all the benefits of commercial property—a business address, work telephone number, furnished office spaces, meeting room access, and other administration services.
Virtual offices allow companies, particularly smaller corporations, to create and maintain a presence in a prime location without paying for an office lease. It also gives your business credibility and professionalism because you can utilize the office’s address as your business address.
Virtual offices are usually located in central business districts. In Metro Manila, Philippines, you will find these around Makati, Bonifacio Global City, Quezon City, Alabang, and Ortigas. There are also virtual offices in other suburban areas to cater to different business locations and needs.
Aside from accessibility, having a virtual office offers other perks. One of the many advantages of virtual offices is their cost-effectiveness. There is zero investment in setting up office furniture and overheads when you decide to go with a virtual office.
Working with remote operations can risk data theft and other malware attacks, especially if your business is heavily on the IT side. A virtual office prioritizes data security and uses secured internet connections so you can be confident that you are working in a safe environment.
Can A Virtual Office Suit My Business?
If you are a freelancer, a digital nomad, or a start-up corporate business owner, tapping a virtual office is the best way to utilize the functionality of an office without worrying about huge costs and other matters related to renting an actual office space for a long-term contract.
Through this, business owners who are growing their company can entirely focus on their core operations while providing their employees a safe, conducive, and accessible office space for them to work productively. Now that the hybrid work model is looking to be the future of employment, virtual office spaces and coworking spaces are set to become part of the “new normal” workforce.
If your business is vying for expansion and you are looking to increase your pool of talents, maintaining a virtual office can sustain your business’ desired growth. A large part of your business is your people, so it’s also essential to provide your staff with access to fully serviced office spaces or meeting rooms for face-to-face client meetings and conference calls.
Virtual offices build a flexible approach to your business and your people. Virtual office services can be easily tailored to fit your business’ needs, making them more cost-efficient and functional for your business operations. If your job requires telecommuting, virtual offices can provide you with access to conference rooms to make team huddles and meetings more plausible.
Say you own a Fintech start-up and want to attract clients on the financial side. You can use meeting or conference rooms to meet with bank executives and make your pitch or present your offer. Thanks to your virtual office business address in the Philippines and contact details, you can utilize virtual offices to present your company more professionally.
Virtual Offices in the Philippines
Thanks to technology, working from the comfort of your home is now possible. The pandemic has shaped the future of the workplace for several industries. Today, some industries enforce hybrid work setting, which allows more people to work at home. Flexibility is now a game changer in terms of employment, and people are not keen on being locked in an office cubicle while doing work. Virtual offices and coworking spaces can help businesses maintain a hybrid work model.
A recent study conducted by local software as a service firm Sprout Solutions stated that amid the job uncertainty during the pandemic, many Filipinos had quit their jobs as companies have mandated returning to the office. Most of the respondents said they resigned and opted for a job that could be done remotely, while many were also concerned about their health and safety when going back to the office.
In late March, the Philippine Economic Zone Authority (PEZA) strongly urged IT-BPO companies to adhere to the return-to-office mandate of the Fiscal Incentives Review Board (FIRB) to avoid penalties. Under the PEZA law, all companies registered with the investment promotions agency must operate within the ecozones to enjoy tax incentives from the government. The FIRB allowed firms to only conduct up to 90% of their work remotely until March 31.
For the hybrid work model implementation and your virtual office needs, M Spaces is here to help. Conveniently located in Ortigas, M Spaces offers coworking spaces, meeting rooms, and business solutions for your company. For as low as Php500 pesos, you can conduct team huddles in a fully equipped meeting room. M Spaces offices come in different sizes depending on the number of your team for as low as Php6,000 per seat.
In need of a coworking space? Check out M Spaces virtual offices for rates and services. You can also contact us or email info@mspacesph.com to learn more about other services we offer like business registration, corporate compliance, and secretarial services.
