To open a company in Singapore, you would need a registered business address with ACRA. You could use a house address, and others would use a virtual office address. Your business address and telephone number speak volumes about your business.
Here are 3 things to consider in choosing a virtual office package.
Choosing a Realistic Location
Banking, finance, consulting, multinationals, and listed companies traditionally have addresses in the CBD. However, certain trades are usually located in fringe areas such as e-business, logistics, publishing, packaging, media, manufacturing, etc. Virtual office address packages that offer a CBD location market it as a more “prestigious image” for a company. On the contrary, this might work against your company as the perception is an expensive location justifies the raised price for your goods or services. Some clients might be put off knowing that your overhead costs of expensive rent will be passed on to them.
A fringe address, however, has its own set of benefits for a different group of customers – people who take pride in having an eye for quality and service rather than shopping based on big names. It conveys affordability of your services; prudence with company funds; a conscious choice in selecting affordable prices from suppliers; which in turn raises your company’s perceived value. With a more realistic location, a small SME firm can convey a mid-tier pricing structure to its customers. In turn, customers feel good about their purchases and confident that they’ve made the right decision to buy something that meets both their emotional and practical needs.
Choosing the Cheapest Price Provider
Another consideration is the price. Some virtual offices charge a few hundred to thousands per year. The cheapest virtual office packages can include a mailing address with an option to add on other services such as unlimited mail forwarding or scanning packages. The most affordable prices Unlimited packages ensure that you pay one flat fee for the year with no surprises or surcharge.
Choosing an Office with No Supporting Facilities
You might need to rent a conference room or meeting room on an ad-hoc basis. It would be ideal that your business address in your name card matches your conference room and meeting venue with your client. Also, ensure that other corporate services such as accounting, corporate secretary, telephony and strike off are services available with your virtual office provider. This makes it easier to run your business when all the corporate support needed can be found with one provider.
If your company’s registered office is with We Share Spaces we can forward your business mail and other correspondence to your home. Your registered office address can also be your ad-hoc office for the day. Corporate services and business telephony is also available. We Share Spaces is the perfect solution for solopreneurs and small SMEs team.