Is it a Good Idea to Set Up a Virtual Office for an IT Firm?

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With the power of the internet and modern communication technologies, the ability for freelancers, individual employees, and even whole companies to work remotely is increasing fast.

The recent COVID-19 pandemic has seen many firms adapt to remote working and operate without disruption and the need to commute daily to the office.

IT businesses can also hope into this trend since the type of work they carry out has long since required formal brick-and-mortar premises. So why not work from the comfort of your living room?

While this may sound all good to be true for your average software developer or IT technician, what about IT firms as a whole?

In this article, we will explore how a virtual office can affect their company setup and what entrepreneurs and new business owners should consider before taking the first steps on their IT business journey.

What to consider before starting a virtual office for your IT business?

Virtual Offices & Company Registration

Working from home sounds great, but what about your address? Do you want the address of your suburban three-bedroom semi to be the face of your business? What will happen when customers look you up on Google Maps? Most likely it won’t be the impression you were hoping to give.

A virtual office offers a business address for a physical mailing address associated with a specific location, even though you don’t physically occupy that space.

You can use the address to register your business and use it to market your business. It also gives flexibility over when, where, and how you give address information.

Companies House displays companies’ information publicly, so it is better to use a professional address than your home address for privacy.

The virtual office also has additional services such as mail handling, mail forwarding, 24/7 call answering services, a UK virtual mobile number with free call divert and free SMS to Email, and a UK landline business VoIP line.

Also, if you are expecting or may need formal face-to-face meetings in the future, you could gain free access to several corporate meeting rooms as part of your package.

Virtual office service providers

As much as every entrepreneur is experienced, it is most likely you will be stuck from time to time and need some professional guidance. After all, while you likely are extremely knowledgeable in your area of expertise, no one is expected to be an expert in using a virtual office to run your business.

In addition to the above services, some virtual office providers also have access to a diverse team of in-house experts.

For instance, some providers have good long-lasting relationships with banks and can offer free business bank account setups should you require it.

Furthermore, rather than hiring a private accountant to handle your company finances, some virtual office providers can also offer the support of an expert team of accountants and finance professionals.

Icon Offices, for example, have an in-house team of trained accountants who can complete your company’s annual tax filing, deal with any needed correspondence with HMRC or Companies House or just provide general professional financial planning advice.

We also have a relationship with banks, where we can help you open a business bank account and international money transfer account and you can get up to £70 cash back when your bank accounts are open.

Are virtual offices worth It for your IT firm?

Now that we've looked at some considerations to put in mind before taking your IT firm virtual, let's assess whether the convenience is worth the price.

Privacy

Virtual offices and virtual addresses offer a level of privacy not available when operating from a home address.

Not only is this useful from a legal standpoint, but it also means you can avoid unwanted junk mail and unsolicited home visits by clients or salespeople.

Cost-effective

Virtual offices offer a significantly cheaper alternative to renting a physical office. This is particularly important to new and small firms who are looking to keep basic overhead costs to a minimum.

A traditional P.O. Box may cost £35.10, which, unlike a virtual office service, there is no option to have your mail scanned and emailed to you. Furthermore, you must pay for at least 3 months upfront, whereas Icon Offices allows you to pay monthly with a convenient cancellation policy.

Flexibility

As an IT firm, you can adapt to changing needs without being tied down to a fixed location. Suppose, for example, your business takes off significantly and you need to scale up fast, find a physical space, and hire multiple staff, virtual offices allow you to exit your contract at any time, in most cases with very little notice given.

Professional image

Having an official business address lends credibility and professionalism to your IT firm, especially when dealing with clients, vendors, and investors.

Access to Amenities

Some virtual offices offer access to meeting rooms, conference facilities, and other amenities when needed.

Scalability

Easily expand or downsize your operations without the hassle of relocating.

What are the disadvantages of a virtual office for my IT firm?

Limited Accessibility

While virtual offices offer flexibility, certain services (like phone answering and videoconferencing) may have limitations based on the office and membership plans.

Lack of Physical Presence

If your IT firm requires frequent face-to-face interactions, a virtual office may not fully meet those needs.

Dependency on Technology

Reliable internet connectivity and communication tools are essential for successful virtual office operations.

Compared to the challenge and cost of negotiating rental agreements with landlords, virtual offices can be a perfect solution for new and small businesses that may be a little uncertain about their short-term growth prospects.

Finally, just as registering a virtual office address can enhance the professional image of your company, they also provide an easy and cost-effective solution for firms looking to expand their local presence.

This is particularly true for overseas businesses looking for a local UK market presence as well as UK-based firms who are looking for an additional location closer to a specific or important customer base.

Need to take your IT firm virtual, contact us at info@IconOffices.co.uk