Virtual Office Address: 5 Reasons Why Your Business Needs One
Did you know that you can save up to £10,000 a year by getting a virtual office address in London instead of renting a physical office space?
You may ask how?
Stick around, because today I’m spilling the beans on everything I’ve learned about virtual addresses over the past few years.
The process of starting a business in the UK can be daunting. The financial commitment required from the owner is monumental. This is one reason why some people are turning to virtual addresses as an alternative.
In this article, I want to share five reasons why you should get a virtual address as a small business owner and provide you with a step-by-step guideline on getting one today.
Chances are, you already know some basics about virtual addresses. Let’s start with a definition.
What is a virtual address?
A virtual address is actually a real address that you can use as your business address. It’s like renting the address without the premise. You would pay a monthly or yearly subscription fee and in return be able to use the address for your business.Here are some reasons why businesses might need a virtual address:
• To use as their company address
• To keep their home address private
• To use on Companies House
• To use as their Registered address
• To use as their Director’s address
• To display on their website, emails and invoices
Let’s now look at five reasons why you should get a virtual address for your business:
Reason #1: Good appearance
A good appearance will help your business shine and stand out. Your potential clients will poke around and research before they buy from you, this is why it’s important to be prepared and presentable.Your website is likely the first place your customers will visit. Having a professional business address on your site will give visitors a good first impression.
“You never get a second chance to make a first impression”. We’ve all heard this saying. Make sure you send the right signals and win the customer.
Reason #2: Cost-effective
London is a fantastic city for your business to be located in. It will come as no surprise that it’s also the most expensive city in the UK for commercial properties.A good reasonable office space in London can cost between £600 - £1,300 per month. Can you afford that? Most likely not if you’re a start-up working from home.
Virtual addresses are very cost-effective, efficient and appropriate. It’s perfect for small businesses that have a small budget.
Reason #3: Privacy
Would you share your home address with a stranger? Or any other personal information? I think we both know the answer to that. Your home address should always be kept private.In the UK, all Limited companies must have a registered office. This is the official address where all letters from Companies House and HMRC are sent. You may get tempted to use your home address to save a few quid, which is legal. However, your Registered office address will be live and public information. This means anyone can type in your company name and find your address on Companies House.
If you work from home, we strongly advise that you don’t use your home address as your registered office. Keep your home address private at all times. Use a virtual address which is affordable and safer.
Reason #4: Comfort
With a virtual address, you don’t have to travel anywhere. You can be located anywhere in the world and run your business. This will save you time and money.Here’s the thing.
This is a great opportunity for you to work comfortably from your home and get your letters posted to you. Most virtual address providers also offer additional scan service which means you can opt-in to see your letters the same day by email.
Reason #5: Less stress
Starting a business can be exciting. However, in the UK 20% of small businesses fail in their first year, and around 60% of small businesses fail within the first 3 years. Furthermore, 38% of those businesses fail due to running out of cash.A virtual address can be a great solution. It will allow you to test your business venture without having to worry about monthly rent, utility bills or office maintenance.
Secondly, there’s no long-term commitment when you sign up to a virtual address provider. Most providers will offer you a monthly or yearly subscription which you can pay easily in one go.
On the other hand, to rent a physical office space, you’ll be required to sign a long-term lease agreement. This means you’ll have to pay your monthly rent regardless of your business status.
How to get a virtual address today?
When you need a virtual address urgently, you don’t want to waste time by waiting days for approval. This is why we have developed one of the best, cutting-edge systems, allowing you to use our virtual address within hours.At Londonirtualaddress.co.uk, we’re proud to offer affordable virtual addresses in London. Our registration method is simple and easy to complete. There is no admin or hidden fees. To join, select a virtual address that you like, choose the package that suits your business and upload your documents.
I hope you enjoyed reading this article as much as I enjoyed writing it. If you have any questions about virtual addresses or LVA, please don’t hesitate to contact us.
FAQ
Is a virtual address legal?
Using a virtual address is completely legal. It can be a better option than using your home address. There are thousands of businesses that use virtual addresses every year.
Do I need to provide any identification to register?
All virtual address providers have a legal obligation to identify you before they provide you with any services. This is to ensure that they comply with Anti-Money Laundering (AML) regulations and KYC (Know your customer) requirements.
To use our virtual address services, you’ll have to provide us with Proof of Identification & Proof of address. You can read our customer verification page for full details.
Can I come and see the virtual address before I buy?
Absolutely. Email us in advance and let us know the address you want to view. We’ll be happy to show you around.
