What Is A Virtual Business Address? Why Do I Need One?

With major events like the pandemic and war in recent times, start-ups and even big establishments seem to be realising that physical offices and headquarters aren’t necessary anymore. These happenings have also urged entrepreneurs to take urgent downsizing decisions due to a strain on business finances and the running of business operations.

Despite the thought process, the fact remains that business owners need an address to operate from, and brick-and-mortar buildings are fast becoming obsolete.

Having a business address is important because it helps verify the authenticity of a business and improves the business’s overall branding. Virtual addresses are a simple, less expensive solution that helps to fill this vacuum.

A virtual address is an address registered, has a physical presence in a designated space, and can receive mails and packages.

Virtual business addresses provide business owners with an actual street address for their businesses. They are also known as “virtual mailboxes”, and they allow flexibility and make remote working easier for entrepreneurs and businesses – while still having a business presence at said address.

All virtual addresses are, by default, physical addresses, but not all of the latter is the former. The major difference between a physical address and a virtual address is that you get a physical address and a virtual mailbox while using a virtual address. You can get a virtual address at an affordable rate when you contact W1 virtual office. 

It is important to note that virtual addresses are not transformed into physical ones. Instead, they are just real, physical addresses with a virtual mailbox.

WHY DO BUSINESSES NEED A VIRTUAL ADDRESS?

Many companies see virtual addresses as economic saviours. They are regarded as an investment that increases their clients’ participation, leading to an increase in revenue. A virtual business address increases productivity, as employees get to work wherever they deem convenient, and the business is not restricted to hiring local workers.

Besides this, we have also compiled more reasons why businesses need a virtual address.

• Not restricted to a physical setting
  Being restricted to just one mailbox in a particular location is a nightmare for international business people who need to travel frequently. With a virtual address, all mails and packages are scanned and sent to your email, where they can be shared digitally or, on request, physically sent to your address of residence.
• Professionalism to give you a competitive edge
  Your target market must not question your credibility to have the edge over rivals. Using a non-legitimate physical address may question your legitimacy. Situating your establishment at the physical address of a street makes for a more authentic and professional looking establishment, thereby making your business stand tall.
• Security and Privacy
  Using your residential address as a business address leaves you open to risks. From angry customers wanting to seek revenge to business rivals also wanting to do the same, no business owner would feel safe knowing that at any second, an unannounced visitor might show up, and things could get ugly.Owning a virtual business means you enjoy anonymity and more protection than the conventional business address setup would offer.
• Cost-effectiveness
  Basically, with a virtual address, you enjoy the benefit a physical office brings with little or no cost. Instead of renting out an entire office space and employing administrative staff, you can rent just the mailing address. Small businesses may now afford stunning locations for their advertisement.
• Additional services
  Asides from having access to a virtual assistant, a virtual address can also provide amenities such as conference rooms, answering services and receptionists.

HOW DOES A BUSINESS VIRTUAL ADDRESS WORK?

After choosing a suitable virtual business address service provider for your business, you need to sign up and complete all necessary processes.

Once this is done, you can start using your virtual address to receive mail packages and other official purposes. You can monitor every mail package delivery from their app or website, and you also have the option to forward the package to another location of your choosing. Note that the virtual business address service provider handles the forwarding.

For additional services, most service providers might offer you a custom plan, depending on your demands.

It is cost-effective to have virtual assistants, a physical presence, and a package delivery location handled for you while you keep up with other operations.

HOW TO GET A VIRTUAL BUSINESS ADDRESS?

Obtaining a virtual business address is a relatively easy task. Before or after registering your business, you need to decide on the service provider you’ll use for this. A Google search can help you fish out some affordable and ideal ones in your location.

After choosing the service provider you want, you have to pick out your ideal location and pay the required charges. Once this is done, wait for a confirmation that your virtual address has been confirmed, and then you can start using it.

CONCLUSION

Starting a business can be incredibly expensive, not to mention stressful and challenging. Rent costs and administrative staff fees are not feasible while starting, as you could liquidate even before the business takes off.

However, the virtualisation of the business world has made it easier and cheaper to operate a business as long as you know the hacks. A virtual business address is one of these hacks that makes it easier to run a business. Having a virtual business address is one of the best things you can do for your business because it helps you take some stress off handling mail packages, helps you be more visibility online and increases the credibility of your business.

Also, it is not advisable to use your home address for your business for safety reasons. This is because your details are easily accessible online, and as such, you’re vulnerable to good or bad attacks. Additionally, most investors will not want to invest in a business that uses a home address if you’re seeking investor funding.

While making decisions for your new or existing business, it is vital to make cost-effective decisions, especially in an economy that has become harsher due to several reasons, e.g. the pandemic. With this in mind, a virtual business is one of the best solutions to ensure the growth and continuity of your business.