Out of Office

Entrepreneur by Toni Antiporda, 07-22-2014

Have a premium business address, virtually

Going to the office is not what it used to be-more professionals worldwide are working flexibly, sometimes at home or at the "coffice" (coffee shop turned temporary office). In fact, 36 percent of executives in the Philippines work remotely for at least half of their workweek, according to the 2013 Regus Global Economic Indicator, a survey of over 26,000 business managers across 90 countries.

With rent for premium and grade A office market expected to rise 7 percent this year, notes real estate services firm KMC MAG Group, it is rather impractical for startups to own or rent office space. Yet, having a registered business address is still required.

The solution is in a virtual office. It allows startups and multinationals, whose staff work remotely, to retain a premium address, without the costly investment and upkeep.

You also have access to a dedicated phone and fax number, serviced meeting and conference rooms, strong IT infrastructure, and high­tech equipment.

Regus, vOffice, CEO Suite, and the KMC MAG Group are but a few of the growing number of virtual office providers in the Philippines. They also offer office support, such as company incorporation, accounting and bookkeeping services, legal consultation, printing, web design, online marketing, and telemarketing.

"By outsourcing office functions, companies can focus on running their core business without worrying about the administration of a physical office," points out Lars Wittig, country manager at Regus Philippines.

Albert Goh, CEO of vOffice, says that, since they set up shop here last year, inquiries for virtual offices have steadily increased at about 7 percent per month, coming mostly from IT firms, financial analysts and consultants, and web and graphic design firms.

"The take­up rate of virtual offices [in the Philippines] is still behind some of the other cities within Asia, but the trend is on the rise," says Mabel Lim, area director for CEO Suite.