No matter the size of your business, virtual offices have a lot to offer. Technology had made it possible to dispense with the need of a physical location. This is a huge benefit for your company–you can avoid paying expensive lease and rent on a traditional office.

Not only can the company save money, but you’ll also be able to keep the cost of products and services down, too, which is a benefit for your clients.

One of the most cost-effective options for businesses these days is a virtual office. Let’s take a look at some of the benefits you can expect.

1). Home Office

With a business based out of your home, you have the option of renting a virtual office space. This can provide your company with a physical address, without the need to rent a real office. You can also keep your home address private.

The virtual office can also offer you a phone and answering service, so you’ll be able to save money on hiring a secretary. Plus, you won’t have to answer calls yourself, which will save your time for more important business tasks.

For a large business, a virtual office space can also be helpful, even when employees work from home. The virtual office can act as a central place to employees to work together, train new employees, have staff meetings, etc.

2). Adds Legitimacy

While a home office is more popular these days, having a physical address adds legitimacy to your business. And rather than using your home’s private address, meeting clients in a virtual office also makes your business look more professional.

Plus, you’ll have a prestigious address at a central location. This also adds legitimacy to your company, without the need of renting an office.

3). Eco-Friendly Choice

Businesses are striving to become more environmentally friendly. One way to accomplish this is to rent a virtual office space. Not only will the company make its carbon footprint be smaller, it will cut down on waste produced from running the business, too.

In addition, you and your staff will no longer face the daily commute to work by bus, car, train or taxi. As a result, you’ll cut down on air pollution, too.

4). Reduce Employee Stress

A virtual office also helps reduce employee stress. Working from home is less stressful for employees, as they won’t face the long haul to get to work each day. In addition, they’ll have more social and family life, which helps reduce stress.

In addition, a virtual office setup can help employees have a more flexible work schedule. They won’t have to worry about taking time off for sick kids, etc.

5). Save Commuting Time

With a virtual office, you’ll be able to cut out the daily commute, which eats up precious time each day. Not only that but getting ready for work also takes time. A virtual office will eliminate these issues, giving you more time to work on important business tasks.

6). Save Money

Working in a traditional office incurs many expenses. There’s the need to pay for transportation to and from work (gas, train or bus tickets, etc.). You’ll also require a professional wardrobe (suits, business accessories). Working out of an office also costs money for lunch and more.

These are costs that can quickly add up over time; however, most people don’t factor these expenses in when they’re working in an office.

Then there are the costs business owners must pay for including lease/rent for office space, utilities and more. A virtual office saves money for both the business and the employees.

7). Greater Number of Employees Can Work

With a virtual office, you’ll be able to hire more employees to work when needed. With a typical office, the size of the space limits the number of people who can work there. However, with a virtual office, space is no longer factor.

Businesses can hire as many employees as needed at any given time. And even if your company does have a traditional office setting, you can still take advantage of additional employees when needed with a virtual office space.

8). Work-Life Balance

A virtual office offers great work-life balance. Consider this: working long hours in an office causes major stress for employees. They aren’t able to take off to care for sick family members, they may miss important events due to working into the evening, etc.

On the hand, a virtual office gives employees a more flexible schedule. They’re able to make the transition from work back to family throughout the day. Working remotely gives employees a better balance between work and family, reducing their stress and making them more productive.

9). No Need to Relocate

With a virtual office, your business can scale as needed. If the business is doing well and needs to expand, there’s no need to move or relocate. Relocation is a huge stress for the business. There are many costs involved, it can disrupt work, and cause many challenges and complications.

A virtual office relieves these issues—there’s never a need to relocate, etc.

10). Increased Productivity

As noted earlier, a virtual office actually makes employees more productive, which is good for business. They will no longer face the long commute to the office, feel exhausted due to lack of sleep, or be late due to traffic problems on the way to work.

With a virtual office, your employees will have more time and less stress, while also saving money on the commute. They’ll also save time by not facing a long commute each day. All of this will give them more time to be both more creative and productive.

The benefits of a virtual office fall into many areas of your business—from saving time and stress, to providing the company with more flexibility to scale as needed. You and your employees will enjoy the virtual office setting, where each of you can accomplish tasks in a more comfortable environment.

In addition to these benefits, your company will also save money by not paying rent or leasing an office space. A virtual office can offer more flexible payment arrangements, at a fraction of the cost compared to paying rent.