With leasing and construction activity coming to a standstill in the first few months of the lockdown, research by Savills India reveals that total leasing declined by almost 60% in H12020 across six major cities to 13mn sq. ft (as compared to the year-ago period).
Individuals and newbies who have opened new businesses during this pandemic and do not require physical office spaces, are mostly opting for virtual offices. Mostly because of one of its various benefits I.e., cost-cutting. Virtual office is a small office provided to new entrepreneurs where you get a dedicated receptionist to answer your calls, one can also book boardrooms and meeting rooms if they want with the latest audio-video equipment including high-tech facilities like video conferencing with high speed internet connectivity. There is also a choice of taking one or all the services as per client’s requirements. Clients can also take advantage of the provided address to them which can be used on their letterheads and business cards.
With a virtual office, a person can consider business expansion easily and showcase a well-established corporate image on their business documents.
Mr. Kushal Bhargava, Co-founder of MyBranch, the company which is easing Shared, Managed and Virtual Office Space requirements for corporate and startups said, “We at MyBranch have witnessed a 50% hike in the virtual office space requirements after the lockdown restrictions were lifted. These leads were mainly from the service & e-commerce industry. Their requirements also included GST registration for the state. Apart from providing an official address with a GST number, the virtual office spaces also help the growing entrepreneurs with the facility of meeting rooms and inbound-outbound communication management.”
MyBranch is planning to expand to 13 new cities with their entire service range shortly and are expecting an increase in the demand for virtual spaces in those cities as well.
Hiring a virtual office space is quite a cost effective and convenient option for the E-commerce industry, SMEs or individuals who have started their own businesses.
Success hugs you when you minimize your costs and overhead expenses and focus on increasing your sales. Virtual offices are an excellent choice for startups, entrepreneurs, travelling executives, project-based clients/organisations who want to start a venture in a new location.