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How To Reduce The Costs Associated With Establishing A Business

Before you start a business, you’ll need to consider what you need to pay for and how much you could lose should your company be unsuccessful. If you’re an accountant or a marketing specialist, you may not need to employ full-time staff, but you will still need to make enough profit to support your cost of living. You’ll also need to think about how much your marketing efforts might cost, especially if you’re establishing a company for the first time with no existing customer base.

Perhaps one of the largest expenses associated with creating a new business is the cost of renting and running an office. Depending on your line of work, an office might be essential, but it means you’ve got a lot to lose if you don’t attract the number of customers you need. Some of the costs inherent with running an office include:

  • The monthly rental fee
  • Electricity and water bills
  • A cleaning service
  • Office equipment
  • Line and phone rental
  • Internet

If you add up the total amount of all those costs, you’ll probably find it to be well into the thousands – especially if you’re looking to establish yourself in London. However, if you think you have no choice but to pay all of these fees to start your company, you’re probably not aware that there is another option.

Instead of paying through the roof for an office, you could pay a significantly smaller fee to rent a virtual office in London instead.

Virtual Offices Explained

A virtual office provides you with all the benefits associated with having an office address without actually having to rent or work in an office. Though you won’t have a real office, the address and location you’ll be provided with are both very real, and that means you can give your contact details to potential clients to bolster your company image and make you look professional.

Let’s face it, you’ve probably already got everything you need to do your job at home. You no doubt have a computer and an internet connection, and you might have a fully-functioning home office that allows you to do your job to a high standard. Of course, you probably don’t want to hold client meetings at your home because it doesn’t convey a successful image, but there are virtual office packages available that allow you to use a real office at your provided address for up to four days a month.

To top it all off, you can even utilise a professional receptionist to handle your calls which bolsters your customer service and takes a task off your hands when you need to focus on your work duties.

Don’t let the daunting thought of having to run an expensive office stop you from establishing a company. Instead, take advantage of a professional business address service and enjoy all the perks of having an office address without the high cost.

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