Every ending is also the beginning of something. Just like the saying, December for companies is the end of the calendar year but is definitely not the end of transactions but rather the best time to prepare for the new year.
I’m Aldrin Enrile, vOffice’s Philippines General Manager and in this blog, I would like to personally share my first-hand experience on the dilemmas and missed opportunities start-ups go through simply because they did not know about a certain fact or because they never heard about vOffice.
One of the first things that I would tell you is now is the best time to register your business. If you do not know, the Philippines does not rank well in terms of the world’s ranking for Ease of Doing Business, which means business registration in the country is hard and it shall time. How long to be exact? A standard domestic incorporation will take you 3 to 5 months to fully complete a registration. And if you are on a tight deadline, (like most start-ups who thinks January is the best time to register their business), December is the time to begin because January would be the busiest day for our business registration units such as the SEC, BIR and LGU, simply because every start up had the same idea and the first two weeks of January is allocated for business registration renewal.
Last November, we have also released our best promo ever on our Virtual Office plans which also comes in as your best tool for cost cutting, especially when you are coming from a physical office. And because of the crisis, we shall be extending the same promo
So what is a Virtual Office and why is it so important for businesses. There are several reasons and here are the two most important points:
Business Address – Having a virtual office not only gives you access to meeting room spaces, but it also improves your overall image to possible clients simply because having a business address in the heart of a Central Business District is very costly to maintain. And this in return gives you an image of stability and prestige on top of privacy.
A business address is not only is a prerequisite to registering a business, but it is the key requirements for government agencies to reach for you. Maintaining one is another topic altogether simply when we talk about the cost for keeping one during an economic crisis caused by a pandemic.
Covid-19 has spared no industry and as we have seen in the past 6 months, SMEs were the first to show their vulnerability, evidently, with the unemployment rate leaving 6 million Filipinos unemployed, or 50% of the working population untimely jobless, your once busy office floor is now a ghost town. With hundreds of business folding and thousands of downsizing due to the new normal work set up, the need for physical space is no longer a requirement for work.
So, what is the solution we can offer? Two things for two different types of clients looking to scale down.
Scale down to a Serviced Office. Without compromising your operation, the serviced office allows large corporations to scale down to the right office space needed with the new normal, and yet retain the same effective operation.
And finally, if you no longer need to retain a physical space but need to retain the same business registration while you wait out the economic downfall; and the occasional meeting space for that important face to face meeting, get a virtual office.