Complete Guide To Corporate Finance

The Business Finance Guide

You are torn between choosing a physical office and a virtual one in Singapore. You are not the only one, you know. Both types of settings offer you workspace to rent, which makes the decision even harder. Many entrepreneurs prefer launching a virtual office address Singapore because it is advantageous from an economic standpoint. They also favour business locations in cyberspace because they help them create a professional image. However, there are those who prefer traditional brick and mortar locations. Physical places of business offer credibility. Both options offer tangible results. In this article, we will discuss in detail the differences between physical offices and virtual offices. They will help you decide what kind of workspace meets your needs.

Main characteristics of physical offices

A brick and mortar office does not offer the same access as a virtual one. Employees and customers have a specific physical location, or a physical address. In the traditional business setup, employees are required to commute and report to work on their timetable and the workspace is more than often limited. The business place is usually rented for a long period of time, which is not cheap and the cost of commercial property is increasing. However, a physical address gets the business listed on Google Places.

Main characteristics of virtual office

A virtual office exists only in cyberspace. This means that it is possible to have the main address in any location in Singapore. Employees work from home and meetings can be conducted over the Internet. Thanks to advances in technology, managers can communicate with their staff, even if they are on the other side of the globe. Virtual workplaces are aimed at entrepreneurs and start-up companies that need a representative workplace in a foreign country. Businesses get a professional mailing address and a voice mail box. The business location can be changed at any time, depending on the needs of the business in question.

The bottom line

Both options bring about strong benefits. However, if it were necessary to choose a winner, we would definitely pick the virtual office. The reason why this setting is the better choice is that it offers a professional image and it is cost-effective. If you are planning on doing business in Singapore, a virtual office is the best solution. You can save on expenses and work from everywhere. The only thing you cannot do is see how hard your employees are working.

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