A new year is upon us, and yet we are still live in the same conditions left behind by COVID-19, the sustainability of most businesses is still uncertain and the best thing we can do is to adjust.
Scaling down, down-sizing, movement for sustainability, all these terms only mean one thing, cut down on cost.
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.
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.
On a daily, I face clients that are either familiar with the compliances that is required to run a business and the other being the plenty that do not. So, what is the solution we can offer? Two things for two different types of clients looking to scale down.
Business Address – It is important to know that having a virtual office does 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.
So what we recommend to corporations who are coming from their own office space down to a smaller more practical space is to scale down to a Serviced Office. Without compromising your operation, the serviced office allows large corporations to move to the right office space needed under the new normal, and yet retain the same effective operation.
A Serviced Office is as simple leasing an office space that is fully equipped for a plug and play solution. All you have to do is to come in with your computers and begin working, pay a monthly rental that is inclusive of utility bills. And yes, the suites that are rented out come with high speed internet minus the commitment to the internet provider.
The best part of renting a Serviced Office is saving cost on man power as all tenants are assisted by highly trained executive assistant.
Ultimately, having an Executive Assistant manning the front desk shall allow companies or individuals to work more flexibly. You no longer need to worry about your front office being unattended.
Finally, we come to the last resort for companies who are unfortunately looking at deregistering as they feel there is no more hope for their business, keeping their registration active shall only mean running expense. It is not necessarily true as deregistering a company takes months and by the time it had been fully deregistered, we would have been back to normal.
So, we suggest that instead of completely shutting down the business and deregistering, get a Virtual Office subscription and keep your registration intact until the economy is ready to pick up once again.
As expressed, a business address is super important and if one registers their business using their own physical office, you can no longer keep the registration when you need to let go of the space. The only solution would be to transfer to a Virtual Office, the most cost effective way of keeping and running a registered business.
Let us know if you have any question, my team and I are ready to help you figure out the best solutions for your business sustainability at our most flexible payment terms.
Visit www.voffice.com.ph for more info of call our hotline at 63-2-3-224-2000