All businesses have one thing in common: a space to conduct operations. You’ll need office space if you have an internet startup or run a truck dispatching service. Even if you are a day trader and can run your day-to-day from your cell phone in the park, your business requires an official office.
Business centres offer companies flexibility with virtual and coworking spaces, but which is better? Both are beneficial but based on your business needs. One may be better than the other. We’ll show you the differences.
Virtual Office Space
A virtual office is a set of business centre services that entrepreneurs and freelancers can purchase for a monthly rate. Virtual offices do not have physical office space in a business centre, but those who have a virtual office can benefit from services offered by a physical office.
The main benefit of a virtual office is the business address that comes with it. Many startups cannot afford to lease office space at standard rates. Some do not need office space immediately but need a professional image. Instead of using their home address as their business address, a virtual office gives a business a physical address at a traditional office building.
This is useful for a variety of reasons. Virtual offices help a business expand into and test new markets. They also allow seasonal businesses to keep a business presence in a territory without the need to rebrand and change their business address. This is especially attractive to snowbirds.
Coworking Space
Like virtual office spaces, coworking spaces also save entrepreneurs money on office expenses. A coworking space is a physical office at a business centre that can be rented by the hour, weekly, or monthly. Coworking spaces also offer a variety of solutions for startups and freelancers who need flexibility.
Coworking spaces are also popular with remote workers whose companies have moved workers to a work-from-home setup. Not all workers do well working from home. Coworking spaces are an excellent solution for those who want to avoid blending work and home environments.
Saving money is the primary purpose of renting office space through a coworking service. Those who benefit from coworking space save money on utilities they would otherwise pay at home or in a long-term leased office space.
The Shared Benefits of Virtual and Coworking Spaces
Both space types have access to similar benefits and amenities. Business centers allow businesses to use building facilities like break rooms, scanners, and copiers as a part of their service rate. In addition, they also benefit from a receptionist who will greet guests who visit in person to your business.
Mail service is another popular benefit of virtual and coworking spaces. Business centers will receive and scan your mail as part of your rate. The mail service also includes package service. Coworking spaces get access to the internet and WI-FI as part of their plan. If virtual space holders need to reserve an office for a day, they also get access to the internet and WIFI.
The Virtual Office Advantage
Virtual offices have an advantage over coworking spaces. Virtual office agreements have access to similar amenities, and they have access to physical offices as well. Those with virtual office agreements can rent physical office spaces as needed, and when they do not require physical space, they still get the remaining benefits of the business centre.
The Coworking Advantage
Coworking spaces give business owners the closest feel to having a long-term office contract. The advantage is the cost savings. When businesses lease their own office building, they must pay to have the building fit for their operations, which includes signage, utilities, and maintenance costs.
Virtual Offices and Coworking Spaces are Win-Win
You won’t go wrong with either option because they offer similar benefits. Your office space type choice will depend on your business needs. Take a tour of our facility to determine which is right for you. Contact us to get started.
