Entering New Markets: Discover The Cost-Effective Opportunities Offered By Virtual Offices

April 15, 2021
Entering New Markets: Discover The Cost-Effective Opportunities Offered By Virtual Offices

A virtual office is a service that provides businesses with all the benefits of a commercial workspace – an office address, telephone number, administration services, communication services, meeting and conference room access – without the need for a physical office space. Aside from startups, freelancers, and remote workers, virtual offices are extremely cost-effective for businesses seeking to enter a new market. 

Virtual office leases are mostly available on a monthly contract basis. Therefore, businesses can choose to proceed with it or withdraw from it, becoming a financial commitment that does not fit their current business model. 

Nowadays, virtual office plans include access to physical meeting rooms and well-equipped coworking spaces, beneficial to any company seeking market entry. Businesses can hold meetings with prospective clients, customers, or distributors without the hassle of having to do it online. Moreover, meeting rooms and coworking spaces are highly convenient and enable businesses to network with like-minded professionals and industry experts. 

Testing a new market has a lot of risks associated with it. With highly established businesses as competitors, significant time and resources will be required to break through and establish a brand in an unfamiliar field. Renting a virtual office at this juncture enables businesses to test the waters without committing to an expensive lease. Furthermore, a low operational and maintenance cost frees up much-needed capital. 

A virtual office enables businesses to hire local and global employees to enjoy the advantages of working from home. Without the constraints of time and location, companies can recruit skilled talent from anywhere around the world.  

A highlight of a virtual office plan is seamless connectivity. Since all phone calls and mail are forwarded to the respective personnel, no correspondence is missed or ignored. For businesses venturing into a new market, growing and maintaining healthy relationships is vital. In that context, communication is key. 

From an employee perspective, virtual offices lessen the need to travel to work. An average worker spends a significant time every day commuting to the office. Cutting down on commutes enables employees to focus on more important tasks and core activities. This is even more essential for businesses exploring a new market where time and productivity are of the essence. If remote employees need to work out of an actual office temporarily, coworking office spaces are usually provided by virtual office providers. 

By renting a virtual office address, companies can expand nationally and internationally with minimal financial risk. A prestigious physical address and a local telephone number can enhance the approachability and professionalism of a business operating from a different part of the globe. 

For companies seeking an international expansion, few issues like language barriers and a lack of local expertise have to be dealt with. This is remedied by virtual office services that come with a local address, and a client greeting desk staffed by a native administrative professional trained to take calls for the business. 

For more information regarding virtual office services offered by The Executive Centre, contact us or visit our Dubai World Trade Centre offices.

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