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What is a virtual business?

Virtual offices are gaining popularity globally, as they provide an opportunity to grow a business while maintaining a work-life balance. Learn what a virtual business is today in this guide which explains everything you need to know including how a virtual business works, and how our virtual office packages can help you achieve a flexible working solution for your company or working lifestyle.

Virtual business definition

So, what is a virtual business? This originally simply referred to the idea of working remotely but the definition of what a virtual business is has evolved over time. Initially, virtual companies were thought of as virtual if they merely outsourced work to people in different cities or had ‘virtual teams’ or departments in another area or region outside their headquarters.

However, nowadays, being a digital business can mean a lot more than that. In the ever-increasing technological era, being an 100% virtual business is very possible – meaning everybody in the company would work remotely and, most likely, individually. This can allow for nationwide, or even worldwide, employees to be part of the same business – as location is no longer a concerning factor.

How Does a Virtual Business Work?

Most of a digital business’ procedures are completed with just a computer and internet access by adapting technology innovations, such as online video meetings, project management tools, messaging platforms, automations or live chatboxes. As a result, virtual companies benefit from cutting additional costs as they do not permanently rent physical spaces and utilities. Instead, they can outsource their business operations and hire the best talents around the world.

Virtual Business Management

It’s not always possible for every role or industry to adapt to being 100% virtual. Yet, there are a number of sectors that could perfectly fit the bill:

  • Publishing
  • Marketing
  • Finance
  • Sales
  • Retail
  • Customer service
  • Helpdesks/webchat
  • Education… to name a few!

Dependent on the style and nature of your business, virtual businesses can be a great step forward in creating a diverse, flexible working community that can be an attractive pulling point for recruiting candidates and expanding your business. Find out more about the benefits of flexible working now.

Managing virtual employees is a completely different ball game to managing employees in a physical office. This is due to a lack of physical communication, little face-to-face interaction and an absence of physical teamwork between virtual employees. Need more tips on how to manage a remote team? Read our helpful guide now.

Virtual Business Solutions

Having a virtual company is vital with help from a virtual office. Here at Grosvenor House, we provide solutions to bridge the gap between traditional and virtual offices, such as mail forwarding and call handling services.

Located in the heart of Birmingham’s city centre, Grosvenor House also offers modern business spaces for only £25 per hour – meaning you don’t need to compromise on location when searching for your perfect city-based office building.

Ready to level up your business? Contact our helpful team today or explore our meeting rooms to hire in Birmingham today.