Virtual office services have reported a 50% jump in mandate after many small business owners and freshly minted entrepreneurs have lately turned to this cost-effective business model that frees them from the liabilities of investing upfront on the office infrastructure.
The service providers offer an à la carte services that the new entrepreneurs can pick and choose. They can also use the co-working operator’s address for the GST registration as their postal address or the landline number.
“Businesses which have entered the market during the pandemic have used such innovative offerings as a stop gap arrangement in the absence of the feasibility to take up and fit out physical space,”
Karan Singh, Regional Managing Director – Mumbai, JLL.
Assistances also involve meeting rooms, secretarial services, courier management, and a few hours of complimentary service providers’ centers and lounge facilities.
“While the number of seats we used to operate has gone down because of the pandemic, we have seen a greater demand for a virtual office, where the company or individual wants to use our address for GST registration, postal address or in some cases, use the landline number also,”
Mihir Shah, the Co-founder, YesssWorks Spaces Pvt. Ltd.
YesssWorks Spaces has presented three budget-friendly computer-generated service packages beginning from Rs 999.
MyBranch stated that it had perceived a 50% hike in the virtual office space requirements after the lockdown restrictions were elevated, mainly from the industry of service & e-commerce.
“Virtual office space is a very cost-effective and convenient option for the e-commerce industry, SMEs, or individuals running their businesses,”
Co-Founder of MyBranch, Kushal Bhargava.
These services and packages are accessible on a month-to-month basis and range between Rs 1,000 and Rs 8,500-9,000 per month.
“We have seen a significant increase in the demand for virtual office post-June 2020 mainly from smaller companies that have given up their office space and decided to WFH long term, and from new companies that have opened during the pandemic,”
The Executive Centre Senior Director, Manish Khedia
Referring to Stuti Gawri, CEO of The Grey Room, many people who lost their jobs have seen this as a prospect to inaugurate new endeavors.
“The surge of smart entrepreneurs has led to increased demand for virtual workspaces that are located at prime real estate around the world,” Gawri continued.
“The shift in consumer interest has led to virtual offices acting as an asset for start-ups and have been an aid for faster, secure and efficient business growth since we all know as entrepreneurs that the need of the hour is to build a presence globally – and fast.”
Stuti Gawri, CEO of The Grey Room
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