Virtual, coworking, or executive office suite, which is right for your business?

As an entrepreneur, freelancer, or other work from home professional, you have the freedom to decide where you would like to work. There are a number of factors that help to determine where the best place to run your business should be. The three most popular are that of virtual, coworking, and executive office suite rentals.

A virtual office is great for new startups. When you become part of a virtual office, you give off a professional appearance, but still have the flexibility to work from anywhere. These facilities offer businesses a permanent office location without the overhead. They offer communication services including a phone, fax and answering service support from a remote location. In addition, your company will also get a physical address wherein you can receive mail and packages. As a bonus, many also offer conference rooms and private offices that you can use on an as-needed basis.

However, some people do not work well in silence and need other people around in order to be productive. For those individuals, a virtual office may not be the right choice. Instead, they should look into coworking office space. This type of space offers you a place to work and collaborate with others. They tend to have open floor plans and shared spaces that are great for collaboration. Additionally, these places can also offer dedicated desks, private offices and conference rooms on an as-needed basis. However, a coworking space is less likely to have a receptionist or answering service support. This type of scenario is great for those that need a physical place to work that does not require much overhead. Instead of a lease, you pay a monthly membership fee.

While you can decide to rent dedicated office space, that would mean determining how much square footage you need, and finding out who pays the utilities, real estate taxes and maintenance. This includes the WIFI. Moreover, if you need other support services, as well, you may want to consider relocating to an executive suite. Executive suites can be found in an office complex. They are generally comprised of several small businesses that share resources. They are private offices that share conference facilities, receptionists, and provide personalized telephone answering. Since most executive suites provide administrative services, accounting, faxing, postal services, and libraries for an additional fee. If you do not want the hassle of hiring and training secretarial and administrative personnel, an executive suite may be the best answer for where to house your business.

There is no one solution for office space needs and entrepreneurs and businesses, whether large or small, look for creative and cost-effective ways to keep their operating costs down.  Sharing office space is a great way to achieve this goal. In order to decide on the arrangement that best suits your business, it is best to take a look at both your short- and long-term requirements and focus on the services you require. When in doubt, it is best to choose a location with a shorter-term commitment so you can test the waters.