The price packs of commercial spaces are soaring in contemporary time. It has, therefore, become hard for small businesses to think of owning or renting an office space on the prime location. Many businesses needing a personal meeting with their clients don’t want to buy or rent office space on the remotely located location where their clients won’t like to visit.
The prices of commercial spaces on non-prime locations have also been escalated because most small businesses are shifting their offices on these locations due to their inability to afford the soaring price on prime locations.
Feasibility of the office concept in virtual space
The feasibility of operating a business on a certain location depends on the type of business you have. If you are selling products, you can establish your office on any location, but if you’re in the professional or consulting business where you want to meet your clients, it won’t be feasible for you to establish your office on the remote location where your clients would hesitate to visit.
The concept of Virtual Office is gaining momentum in contemporary time, but its feasibility is not good for every type of business. You may keep this as your registered office if you have a company, else you can’t hold a personal meeting with your clients in this type of office.
The contemporary concept of virtual accounting
A virtual registered address office is also an ample solution to the office space problem for many types of consulting business where you can interact with your clients online and don’t need to meet him in person. Virtual accounting is a new trend in contemporary time in some countries like the United State, Singapore, and more countries.
Virtual accounting allows qualified accountants to offer their flexible, cost-effective, and efficient accounting services remotely, rather physically working at the client’s office.
How a virtual accounting firm can help a big company
Virtual accounting services have become a great option for big companies in Singapore that have their own accounting department, but need extra support on accounting, financial and taxation matters.
A Timcole accounting incorporation firm Singapore can handle these matters pertaining to a company. The client company can get the advantage of professional support through qualified accounting professionals of a virtual accounting firm without having a need to employ additional full-time staff for its office.
Virtual accounting has an advantage of cost-effectiveness
Virtual accounting has an advantage of cost-effectiveness to both virtual accounting firm and its client company. A virtual firm saves in the infrastructure costs and the company saves in the employment cost. The concept of virtual accounting is not only advantageous for big companies but small companies that do not have a big budget also saves by not employing qualified accounting, finance, and taxation professional for their fiscal functions.
The professionals of an Accounting firm Singapore integrate with the departments within the client company that need extra support in a certain accounting, finance or taxation matter. It makes a sort of unique blended solution which is not only cost-effective but time-saving also.
Virtual accounting services are, therefore, playing a great role for both big and small business in Singapore these days. It is a sort of consortium that brings a lot of advantages for both the service provider and the receiver.