How Does a Virtual Office Space Work and What Makes it so Popular?

Virtual offices are increasingly becoming a popular choice among start-ups, small business owners, and freelancers. They serve as the perfect fit for entrepreneurs looking for a premium office address but unwilling to invest their money in a physical office space. 

What is a Virtual Office?

A virtual office enables employees and business owners to work from any location by offering a range of business functions accessible through the internet. It also helps organizations in maintaining a constant professional presence in a unique location without the need to pay for an actual office space.

The ancient practice of renting virtual office space by freelancers and entrepreneurs has turned into a new business trend. Instead of leasing an expensive office space, smaller companies and start-ups are now preferring virtual offices for greater flexibility at lower costs. Virtual office spaces allow businesses to work from different locations and compete with their competitors efficiently without the need to make a considerable investment.

Setting up Virtual Office Space

In comparison to a traditional office space where expensive furniture and high-end office equipment are essential, setting up a virtual office space is quite easy. The things needed for setting up a virtual office space are desktop or laptop, phone, excellent internet service, and essential office supplies. Once you have good internet access and the right software loaded on your computer, you are all set to work remotely.

How do Virtual Offices Work?

While the employees work from home or remote locations, the other tasks essential for their business is handled by virtual offices. These include answering phone calls, providing a receptionist, handling incoming and outgoing mails and offering additional supplementary services like web design, web hosting, faxing and so on. Virtual office space is also equipped with a conference hall and meeting rooms which can be booked whenever needed. It helps in making a great first impression on clients.

What Makes Virtual Offices so Popular?

Various factors make virtual offices accessible. Some of them are: 

• Setting up a business in virtual offices is highly affordable. They neither involve any utility payments, nor any costs associated with hardware or furniture. Hence, virtual offices help entrepreneurs in gathering savings that can be invested in their employees and business.

• Virtual office spaces play a huge role in enhancing the productivity of employees. It is because the time utilized in getting ready for work and commuting is saved. 

• The employees working in a virtual office get to spend more time with their families and thus have a more excellent work-life balance. It boosts their enthusiasm and keeps them motivated to do their tasks.

• Virtual offices provide flexibility at work.

• Virtual offices allow start-ups and small-scale businesses to have a separate business address. It helps them maintain a constant professional presence.

• Virtual offices are elementary to set up or shut down without involving any additional costs.

• Virtual offices allow businesses to hire exceptional talent from around the world without investing additional money.

• Virtual offices are devoid of the barrier of fixed workspace and legal formalities. It helps business owners to enhance their team size seamlessly.

Virtual Office Spaces in Top Cities of India

Chennai is one of India’s most prominent cultural, economic, and educational centres. The city has been seeing recent advancements across industries like IT, finance, automotive and manufacturing—home to state-of-the-art hotels, upscale boutiques, and cafés. Southern India also harbours some of the finest and high-end virtual office spaces in Chennai for entrepreneurs to elevate their business. These offices help employers and business owners to work flexibly from any corner of the world while maintaining a constant professional presence with the help of a prestigious business address. 

Along with Chennai, another developed city known for offering high-standard virtual offices in Bangalore. Bangalore has been consistently ranked as the top 10 preferred entrepreneurial locations in the world. Hence, there are several top-notch virtual office spaces in Bangalore offering unparalleled amenities to fulfil the needs of entrepreneurs, start-ups and small business owners.

Why New Businesses are Opting for Furnished Office Space in Colombo?

In today’s competitive global marketplace, money, time and effort are the key elements playing a vital role in driving businesses. With the furnished office space being perceived as a mainstream occupancy option suitable for companies of all sizes and nature, the furnished office industry is rapidly growing at an annual rate of 73% globally in the commercial office space.

Setting up a business isn’t an easy task and looking for an office to let it thrive is even more difficult. Buying an office space for rent and furnishing it is a time consuming and expensive task. Thankfully, entrepreneurs and business owners have fully furnished offices as an option to grow their businesses. Fully furnished offices provide a productive environment and flexible working conditions thus, offering features that appeal to the younger workforce. This is one of the most important reasons why young entrepreneurs in cosmopolitan cities like Colombo are opting for furnished office spaces.

Colombo is a gateway to Sri Lanka and is the largest city of the beautiful island. Home to a cluster of high-rise buildings and hotels, Colombo sits in a very powerful position as the administrative and economic centre of Sri Lanka. Being the economic centre, a number of furnished offices for rent in Colombo are available. Here are a few reasons why new businesses are opting for furnished office space in Colombo: 

• Affordable: Due to lack of funds, start-ups or small-scale enterprises seek measures that can save their expenses and help in boosting productivity. Buying an office space for rent and installing the required furniture and equipment needs a huge amount of money. Here is when fully furnished offices come into play. Ready to use office space in Colombo allows you to rent a space that is already equipped with comfortable furniture, office equipment, and a creative environment to let you enhance your productivity. Moreover, they are devoid of any hidden costs thus, helping you save money.
• Enhanced flexibility: Opting for a furnished office space for rent in Colombo eliminates the time required for setting up an office and moving in. Furthermore, they are suitable for all kinds of businesses and offer flexible working solutions that fit their needs. Therefore, furnished offices serve as the perfect option for businesses looking to scale up or down as per their requirements. 
• Constant professional presence: Luxury offices for rent in Colombo provide a working space equipped with modern design, world-class technology, and exceptional amenities. All these along with a prestigious business address help companies in maintaining a constant professional presence. In addition to this, having a distinguished physical address for your company instils a sense of trust among your clients and customers thus, enhancing the credibility of your business
• Finest business concierge services: The furnished office spaces in Colombo offer a full-service administration to empower businesses. They offer invaluable knowledge and support for seamless flow of operations. These in-house experts perform all the necessary tasks to let you focus on uplifting your business without any distractions. These include helping your team to settle in, ensuring the fulfilment of your business needs, and minimising disruptions through uninterrupted IT services, remote administrative assistance, and relocation expertise.
• No hassles: In order to accommodate new employees, it is very likely that an entrepreneur will need to upgrade his/her office space. Doing this in a traditional office space can be tricky and expensive. Whereas, in the case of furnished office spaces, one can easily move to larger suites on the expansion of the team without the hassle of moving in and furnishing all over again.

With every passing year, businesses are changing where and how they manage their operations. This not only creates an urgent need for a flexible workforce but also a flexible infrastructure. Hence, overall, we can say that the increase in demand for furnished office space among new businesses is seen to be fundamentally driven by the growing need for a productive environment offering flexible solutions to the rapidly changing business culture across the globe. Hence, a number of newly- emerging companies in countries like Colombo are rapidly adopting the concept of fully furnished offices over conventional offices to elevate their businesses.

How Virtual Office Space has Transformed the Way We Work?

The rapidly changing world of work demands a change in workplace culture too. A few decades ago, the thought of virtual offices was more of a concept than a reality. However, with the advancement in technology, virtual office space are gradually being embraced by several workplaces and that too at a rapid pace. 

With trends moving in favour of virtual offices, the day is not far when the future of workplaces will be dominated by virtual offices. The rising costs of real estate make the idea of renting an office space questionable, especially when you are starting a new company. Here is when virtual office spaces come into play.

Virtual office spaces make business services accessible through the internet, giving your company and your employees the freedom to work remotely without any disturbances. It can be defined as a unique concept of having an office space without actually having one. Some of the biggest changes likely to be seen in the workplaces of the future revolve around the workspace, methods of communication, and the way technologies are used to get work done. 

Bangalore is the heart of India’s information technology sector and demands offices that can offer productivity along with comfort to let employees experience peace of mind while carrying out their tasks. This has led to a rise in  virtual office spaces in Bangalore and its commercial sectors.

Here are the top 6 reasons why the emergence of virtual office spaces is changing the way we work: 

• Improves employee productivity: Virtual offices offer the advantage of choosing time and location as per your needs with the added benefit of working virtually from anywhere in the world. The only thing required is a good internet connection to communicate with clients or customers. Since there are no distractions involved in virtual offices, they help in enhancing employee productivity to a great extent.

• Access to a global network of talent: Virtual office spaces do not restrict you to hire local talent. Instead, they give you the freedom to hire resources from all around the world that fits in the category of the best candidate. This gives your company access to a global network of talent to choose from.

• Saves time: One of the best advantages associated with virtual office spaces is that you end up saving a lot of time due to the commuting time being saved. Travelling to work not only consumes time but also makes you feel exhausted by the end of the day.

• Helps you maintain a constant professional presence: Having a virtual office space in Bangalore lets you set up your business from anywhere in the world. It offers a distinguished address and an elevated business presence along with the freedom and flexibility to work wherever you want. The availability of a physical address not only helps in creating a professional image and building credibility for your business but also instils a sense of trust among your clients and customers.

• Makes business expansion easy: Opting to work in a virtual office makes the process of expanding your business very easy. This is because virtual offices do not require you to rent more space. Hence, virtual offices as a concept are best suited for companies that are growing. This gives them the freedom to scale up or down as per their needs.

• Analyses the quality of work rather than how it is produced: With virtual office spaces, there is no close supervision by a manager or supervisor. It is a concept that lays emphasis on the quality of work and not how it is produced. Such a practice helps in improving employee productivity.

In the present world, a company no longer needs walls to exist. Moreover, the concept of 9 to 5 is far gone. Nowadays, coworking spaces are offering flexible virtual office plans to help businesses build their empire from anywhere in the world with the help of high-end technologies and prominent business addresses. Virtual office spaces in Bangalore are thus, gaining popularity and are being adopted by businesses ranging on a scale of start-ups to multinational companies. Offering essential services like mail-handling and call-forwarding, a virtual office is truly an ideal solution for work-life integration.

The Changing Face of Coworking Space in the Times of Social Distancing

Could the aspects of coworking spaces and the amenities offered by them change post Coronavirus? As the lockdown eases and the restrictions are lifted, fewer employees will not be the only thing that one will notice on returning to workplaces. There are huge possibilities that your workstation, washrooms, or canteen area might also have undergone a significant change. With social distancing becoming the norm amidst the COVID-19 pandemic, workplaces are changing their dynamics to ensure a safe and healthy space for employees.

Any place or activity bringing together several people can play a significant role in spreading infection. Coworking offices encourage employees from different organizations to share a common space and work together. They are not only cost-effective but also provide good networking opportunities. With the rapid spread of COVID-19 infection, it is evident that the demand for coworking spaces wouldn’t be the same as it used to be. However, in order to build a safe and productive environment for employees, many leading coworking spaces are emerging stronger from the COVID-19 crisis through innovative ideas and design upgrades.

Here are few of the measures being adopted by coworking spaces in metropolitan cities to keep COVID-19 at bay: 

• Presence of 30% staff at a time or enhanced emphasis on shift-based timings: While working from home might seem a viable option to carry out daily operations of your workplace but certain drawbacks such as miscommunication, noise, weak connectivity, and so on can cause unnecessary delays in the fulfilment of tasks. Hence, it often becomes necessary to go to work in order to get a particular task fulfilled. However, due to the rise in Coronavirus cases, shift-based work timings are being implemented by shared offices in leading cities like Chennai so that safety and productivity are not compromised. Another option being considered by several coworking office spaces in Chennai is maintaining a 30% employee presence at a time while encouraging the rest of them to work from home.

• Change in workstations: The coworking spaces are now being thoroughly cleaned and several office furniture is being removed to make room for employees. Moreover, their pathways are also being marked with circles in order to ensure that the required distance is maintained. In addition to this, a number of coworking spaces in Chennai are also increasingly using physical barriers between desks to keep co-workers six-feet apart.

• Following social distancing at washrooms, elevators, and canteens: Office canteens are no longer going to be the same. Many coworking spaces are limiting the number of food stalls and are encouraging employees to bring their own lunch. Furthermore, tokens are being given to employees to open washroom doors along with a desk mat to lay on the desk before using it.

• Replacement of in-person meetings with virtual meetings: Despite employees being present in offices, most coworking spaces in Chennai are adopting the method of virtual meetings to interact with employees. This ensures the fulfilment of tasks without meeting people.

• Usage of contactless technology: Today’s world demands the implementation of high-end technologies to reduce physical contact. Several coworking spaces have started making use of these technologies. These include motion sensors, automatic elevators, digital payment methods, facial recognition apps, smart lighting solutions, ordering coffee and food through mobile devices, and so on. Along with these benefits, advanced technologies can also be used to remind employees of social distancing.

Demand for Variable Set-ups by New Businesses will Lead to a Rise in Coworking Spaces

Due to the impact of lockdown and the rapid spread of the COVID-19 infection, there is an urgent need to transform the existing coworking offices into spaces equipped with a six-feet rule. Several emerging businesses are preferring variable office set-ups over traditional set-ups as offered by coworking spaces. It is increasingly being a concept that will be in favour of companies looking to work remotely. Nowadays, many coworking office spaces in Chennai are offering employers ample boutique spaces so that social distancing can be followed efficiently. Moreover, they are also stocking up the workspace with sanitizers, disinfectants, gloves, and masks before reopening to ensure proper protection from infection.

The Sharp Growth of Rental Office Space in Mumbai

As compared to the last few years, the demand for coworking office spaces has grown tremendously in India. The emergence of new start-ups is one of the main reasons resulting in the growth of rental office spaces in the leading cities of India like Mumbai, Bengaluru, New Delhi, and so on. Moreover, the strong demand for office space and sustained rental growth continues to attract both developers and institutional investors. In the present, a huge number of domestic and global firms are positioning Mumbai as the destination for highly skilful requirements dedicated either to their global operations or domestic services.

The activity of leasing offices in cities like Mumbai is anticipated to strengthen with corporates looking to expand their operations beyond boundaries. Coworking spaces offer employees a well-equipped workspace including facilities like free internet, meeting rooms, office equipment, and many more. Hence, these add-ons might appear to a few as the driving force behind the growing demand for fully furnished office space in Mumbai. 

However, there’s much more that coworking offices have to offer. According to recent surveys, it has been found that the ability to interact with professionals from different backgrounds acts as one of the primary forces behind the rapid growth of ready to use office space in Mumbai. The survey also indicated that according to 59% of the co-workers, a social and enjoyable atmosphere served as the biggest influence in making the decision to stick to a particular workspace. This clearly suggests that people are more likely to work in an environment consisting of a like-minded yet well-diversified community rather than in a workspace having a uniform community of professionals.

Regarded as the business capital of India, Mumbai is emerging as a hub of start-ups and private firms, aiming to build their empire by expanding their operations. Therefore, cities like Mumbai require entrepreneurs to go for shared office space for rent in Mumbai because of their effectiveness and flexibility. 

The days, when huge spaces were required for a business to thrive, are long gone. Nowadays, one doesn’t need a lot of space in order to operate. To grow your business in a developed city like Mumbai, just book office space for rent in Mumbai, carry a laptop and you are all set. It is an evident truth that most start-ups in leading cities like Mumbai are unable to make money in the beginning.

Thus, furnished office spaces for rent in Mumbai help them curtail additional costs with the availability of world-class amenities. Hence, the saved money can further be utilised to provide flexibility when sales fail to meet the target. 

Technology has also played a huge role in making co-working spaces to help start-ups and other organizations expand their operations. For instance, with the availability of high-end amenities like video conferencing facility in Mumbai, a business located far away from Mumbai can easily keep track of tasks to be completed remotely. 

Thus, we can say that cost-saving techniques, security, connectivity, and a community of like-minded professionals are some of the biggest factors responsible for the growth of rental offices in Mumbai. However, the rapid rise in the outsourced workforce has also contributed to its growth. Several firms whether large or small are excessively using freelancers to perform duties that do not require physical presence and can be carried out from the comfort of homes.

The Executive Centre, a pioneer in exclusive workspace offers top-notch office space with state-of-the-art amenities to empower your company’s vision. Set up your business in a modern, flexible, and beautifully-designed space. Broaden your horizons with us.

The Rising Popularity of Shared Office Spaces

The trend of shared office spaces was almost unheard of in 2007, but since the past few years, collaborative workspaces have become popular with the emergence of millennials coming into the workforce. They are opposing the need to obey traditional office structures, demolishing 9-5 mindset, breaking down the typical corporate hierarchies and are reformulating business norms. Many millennials are becoming entrepreneurs, setting up their own start-ups and are shaping the trends of how and where we work. 

However, the rise in the popularity of shared offices is not entirely dependent on millennials. There are various factors making coworking spaces, the perfect fit for those who are looking for efficiency over tradition.

What is Shared Office Space?

A shared office space also known as a coworking space is a collaborative workspace where SMEs, freelancers, and entrepreneurs can enjoy the benefit of a well-furnished and equipped office space without having to commit to a long-term lease and the hidden costs it involves. The members of a shared office usually need to pay on a monthly basis to gain access to amenities like private working space, meeting rooms or special equipment.

The Executive Centre (TEC) for example, is a high-end, exclusive business centre offering unparalleled amenities and services to meet your business needs. All of its coworking offices in India such as the shared office space in Chennai are equipped with a productive atmosphere, state-of-the-art infrastructure and unmatched business concierge services, providing an elevated and flexible working experience.

Why Millennials Prefer Shared Offices?

Cost-effective: Start-ups and developing businesses do not have the funds to buy or rent an office space, making them inclined towards an effective solution. As opposed to traditional office spaces involving huge costs and long-term contracts, shared office spaces are a lot cheaper and generally require payment on a monthly basis. Therefore, more individuals prefer to go for a shared office space for rent rather than renting traditional office space to uplift their business.

Minimal responsibilities: Setting up a business in a coworking space means fewer things to worry about. Things like the pantry, furniture, cleaning, and maintenance are taken care of by the serviced office owner. This is one of the main reasons why millennials prefer renting over ownership.

Access to networking: Shared office spaces offer a productive environment with professionals from different backgrounds sharing one common roof. This not only helps in the sharing of ideas but also sparks creativity and innovation. Moreover, it serves as the perfect place for people to connect with like-minded individuals and widen their network. 

The Executive Centre’s coworking offices such as the shared workspace in Chennai is home to a pool of talented individuals who frequently interact with employees from different start-ups and thus, enhance their personal as well as professional relationships.

High-end amenities: Coworking offices are not just spaces to set up a business. They offer you much more. Some of the top-notch shared offices provide world-class amenities compared to the traditional ones. Be it high-speed internet services, modern resources to ensure smooth flow of operations or pleasant and cosy interiors to impress your clients, all these services will be offered right away, as you step in.

The Executive Centre’s serviced offices such as the shared office space in Bangalore has a distinguished address and is equipped with top-grade facilities required to empower your business.

Prestigious locations: According to a recent survey, it has been found that most millennials prefer to live in urban areas where essential resources like medical stores, grocery shops, restaurants and so on are easily accessible. Shared office spaces generally occupy distinguished locations of the city, making them a perfect fit for millennials. Due to this factor, millennials look for shared office space for rent in Bangalore, Mumbai, Gurgaon and so on, keeping in mind their desire to grow professionally in a city.

As a result, despite drawbacks like distractions, inability to customize and lack of privacy, shared officespaces are rapidly becoming the millennials’ dominant choice for a place to work.

Top Shared Office Spaces Myths

From startups to major businesses, having the right office space that checks all the boxes is a challenging task. In the previous decade, shared office space was a new and economical option for many companies. In recent times these office spaces are picking up the hype and have surged in popularity. 

As a matter of fact, many people are actually preferring shared office spaces rather than generic private space, for countless benefits that it brings to the business and employees. These kinds of spaces are known to bring out the best of employees while helping them experience a vibrant professional setting.

But some people still have their doubts about this modern professional setting. Some might even argue that an office that is shared is bad for the business and brings morale down. These preconceived notions can cause any upcoming business a fortune. 

Before you go and spend a large amount of funding for private office space, let us list down and bust all the myths of taking up a shared office space for rent. In this article, we have debunked the false notions about shared office spaces. 

1. Shared office spaces are too noisy and unproductive 

Oftentimes you would hear people compare a shared office space with a coffee shop or a crowded classroom. This is certainly not true. The only similarity a shared space has to a coffee shop is that the abundance of coffee.

Coworking spaces like these have a good number of open workspaces and private workspaces. All of this depends on what kind of business prefers which type of space. In a way, shared office space is just a large catalogue of different types of offices and rooms that suit any and every business. 

Also, many studies suggest that people tend to be more productive and energetic when they socialize and work together, so shared office spaces actually increase the morale and productivity of your employees. 

2. Shared office spaces seem unprofessional 

Serviced office spaces or shared office spaces are well equipped to be hospitable to any and all clients. These spaces have a specific set up that takes care of client visits, meetings and conferences, and other recreational activities. Generally, these spaces will at least come with meeting rooms, conference rooms, minimum amenities like coffee, recreation rooms, and a cafeteria.  

Spaces like these have a very attractive and professional business setting that will surely fascinate any client that comes to you. 

3. Coworking spaces are for start-ups and freelancers 

Sometimes these office spaces may portray a flexible and rather raw environment, best suited for upcoming companies and start-ups. The flexibility of such spaces makes it seem that freelancers and unbothered young professionals might thrive in this environment. That is true to an extent. A flexible office space does give you freedom, unlike private space. 

But even large companies love flexible settings and work routines that help them feel at their prime in such an environment. All the amenities, rules and regulations align with a professional space. So a shared office space experience is fun and better for your business. 

4. Coworking spaces are for techies 

Many tech companies have started using sharedoffice spaces. But this does not mean that these kinds of serviced spaces are for that niche crowd. The setting and environment of these spaces are built for any company that is not shy to cut expenses while exercising the flexibility of such an environment. Any company can adjust well in a shared office space, which helps their business grow.

As long as the company has a strong professional network, dedicated employees, and a vision to make it, coworking spaces will be the best option. 

Conclusion 

Yes, private office spaces may have their own perks, but shared office spaces are where you are part of a larger community rather than just your company. These kinds of spaces help businesses make contacts while teaching them a thing or two about management. So if you are thinking of getting your own serviced office space in India, then do not think twice.