Small business owners, entrepreneurs opting for virtual office

New Delhi: Virtual office services, offered by co-working operators, have reported a 50% jump in demand after many small business owners and newly minted entrepreneurs lately turned to this cost-effective business model, which frees them from the liabilities of investing upfront on office infrastructure.

These service providers offer à la carte services that new business owners can pick and choose. They can also use the co-working operator’s address for GST registration and as their postal address or, in some cases, the landline number too.

“Businesses which have entered the market during the course of the pandemic have used such innovative offerings as a stopgap arrangement in the absence of the feasibility to take up and fit out physical space,” said Karan Singh, Regional Managing Director – Mumbai, JLL.

Offerings also include meeting rooms, secretarial services, courier management, a few hours of complimentary usage of the service providers’ centres and lounge facilities.

“While the number of seats we used to operate has gone down because of the pandemic, we have seen greater demand for virtual office, where the company or individual wants to use our address for GST registration, postal address or in some cases use the landline number also,” said Mihir Shah, Co-founder, YesssWorks Spaces Pvt. Ltd.

YesssWorks Spaces has introduced 3 budget-friendly virtual services packages starting from Rs 999.

MyBranch said that it has witnessed a 50% hike in the virtual office space requirements after the lockdown restrictions were lifted, mainly from the service & e-commerce industry.

“Virtual office space is a very cost effective and convenient option for the e-commerce industry, SMEs or individuals running their own businesses,” said Kushal Bhargava, Co-Founder, MyBranch.

These services and packages are available on a month-to-month basis and range anywhere between Rs 1,000 and Rs 8,500-9,000 per month.

“ We have seen a significant increase in the demand for virtual office post-June 2020 mainly from smaller companies that have given up their office space and decided to WFH long term, and from new companies that have opened during the pandemic,” said Manish Khedia, Senior Director, The Executive Centre.

According to Stuti Gawri, CEO, The Greyy Room, many people who have lost their jobs have seen this as an opportunity to establish new ventures.

“This surge of smart entrepreneurs has led to increased demand for virtual workspaces that are located at prime real estate around the world,” said Gawri. “The shift in consumer interest has led to virtual offices acting as an asset for start-ups and have been an aid for faster, secure and efficient business growth since we all know as entrepreneurs that the need of the hour is to build a presence globally – and fast.”

Small business owners, entrepreneurs opting for virtual office Small business owners, entrepreneurs opting for virtual office Reviewed by TechCO on 9/29/2020 Rating: 5

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