| Until about 2 decades ago, the concept of a | | | | their office and employ staff to assist them for |
| 'virtual office' was practically unknown. With great | | | | the fear of incurring heavy losses in case the |
| advancements in technology and the development | | | | business didn't click. |
| of the Internet, slowly the idea of a virtual office | | | | In such a situation, a virtual office is a boon for |
| started to take shape and has become very | | | | the entrepreneur as it can be easily set up at |
| popular today. | | | | home. From their home office, they can easily |
| A virtual office is a low-cost alternative for an | | | | research the business market and trends to |
| office space that would involve all kinds of | | | | decide if their business is likely to succeed or not. |
| overheads such as office rent, meetings and | | | | All the expenses that they would otherwise incur |
| other basic infrastructure expenditure. The | | | | by setting up an office can be avoided. |
| improved technology favors use of instant | | | | Home-based businesses have become the latest |
| messaging, email, fax, teleconferencing and | | | | rage of the century with more and more virtual |
| telephone in connecting a group of people at | | | | entrepreneurs setting up their offices at home. |
| extreme corners of the globe to enable them to | | | | Neither do these virtual enterprises require |
| work for an entrepreneur. | | | | high-end expenditure nor do they have to meet |
| With the web providing great facilities, a virtual | | | | with the demands of the real businesses. Virtual |
| network of employees can be built. The | | | | entrepreneurs have the advantage of having |
| entrepreneur and the employees function | | | | control over their time. Flexibility is the keyword |
| independently, yet work in unison, just like in a | | | | for the self-employed people who can make time |
| real business organization. This way both money | | | | for self and family. |
| and time are saved by having a virtual office. | | | | A virtual office is perfectly ideal for entrepreneurs |
| Working anytime and anywhere is the most | | | | for who: |
| advantageous feature of a virtual office. You are | | | | Are conscious of their budget and do not |
| not bound by time and other restrictions that you | | | | want to invest more than necessary into their |
| would face in an office. | | | | business particularly in the start-up phase. |
| By setting up a virtual office, an entrepreneur can | | | | Are on the move so do not choose to spend |
| avoid the burden of payroll, healthcare, insurance | | | | on office space. |
| and other similar expenditures. The virtual office | | | | Work from home but are in need of a |
| employees are not entitled to annual leave or | | | | business identity. |
| medical leave as they work independently, so the | | | | Wants their own space and time. |
| entrepreneur benefits from this aspect. | | | | Are in the preliminary stages of their |
| Accountants, skilled workers like construction | | | | business. |
| contractors and repairs/ renovations people and | | | | Do not like to spend time on commuting. |
| home-based entrepreneurs reap the benefits of | | | | Virtual entrepreneurs do face difficulties when |
| having a virtual office. For a small or medium | | | | they run a business from home. Time |
| entrepreneur, a virtual office is an ideal concept to | | | | management may become tough as working |
| start a business with, due to its | | | | from home can cause distractions like children. |
| cost-effectiveness and manageability. | | | | However, if you can practice the art of managing |
| For instance, first-time entrepreneurs who are in | | | | your time well and become disciplined in your |
| the dark about the success of a business may | | | | work, you can become a successful virtual |
| not want to take the risk of renting a space for | | | | entrepreneur. |