Nepal is a country with full of potential resources for a start-up Business. Low-cost workforce and accessible bureaucracy, make Nepal is the best choice for the start-up business. Now a day’s people are interested to invest money in Nepal because of the scope of potential hydropower, Tourism, rich cultural heritage and agro-based industry, Telecommunications, Software Development, Textile and Leather, and Pharmaceutical industries. After getting the business idea, you will think of the office place that means how your future office look like? Will it be a physical or a virtual office station? In recent times it very difficult to identify which one, traditional or Virtual Business Address, is going to be received by different types of businesses and services in Nepal. It is very crucial to answer because many people do not know the actual meaning and difference between the terms. Let’s have a look what actually means by Physical and Virtual business place:
A physical address is a traditional work station, where all people come together to perform their work. You can select, as a startup, physical office like as a: Service office Space Shared or Co-working office station Rental of conventional office space Collaborating working place is a physical address that can be rented by any types of Business. It is actually the place where experts form various foundations share an office address. This place is organized by verities of equipment that each organisation needs and shared the common spaces such as high-speed Internet, receptions, conference room, canteen, parking, lunges etc.
On the other hand, virtual business address is totally different from traditional business address. It mainly provides business with a physical address and administration related services without the overhead of a long -term rent and regulatory staff. It’s a postal location of any business that can be used only for the communication purpose. Its helps people to work from anywhere remotely through the vital access of internet. Thus, the fundamental difference between digital and physical working address is the physical place where an individual actually works in.
|Facility||Virtual Address||Traditional Address|
|Office Desk Facility||No||Yes|
|Office Drinks: Coffee/Tea||No||Yes|
As a newly developed country, Nepal still has the crisis in electricity, water, fuel, communication and inflation, which need to be consider before thinking of the Business space. Thus, it can be hard to decide which one physical or digital work station will be the best for the start-up. A Significant study of below parameters will help you to decide which one is the best suit for your business: Cost of Operations Brand value and Trust Flexibility Communication Work Atmosphere Technology Teamwork
Overhead Cost is the first priority when think of work place. If you are putting more emphasis on lowdown your overhead cost, then virtual office will the best choice for you. Whereas physical office is more expensive in terms of renting big office space for all employees, parking space, utility bills etc. Companies having a digital workspace does not need above facilities. Thus, will help you dramatically reduce the operation expenditure of your Business.
If you want to establish your image and getting more trust, the physical business station will be the best choice. Remember the phrase “Seeing is believing” yes, when your customer see that you physically exist, then they will automatically trust you. Furthermore, strong brand image and customer trust are the most important parameter to do business in long-run.
In a Physical Address, employees have less chance to get the flexibility, because they spend more time to go to the work from their home. Also, they have the stress of facing management in every day, which sometimes makes them less productive. On the other hand, the virtual office helps the employees to work from their home, Caffe shop or even from their vacation. Finally, they will be more productive in terms of getting more flexibility.
Work form home is more eco-friendly then work in a traditional office. For example, when you will work from home, you will not use transportation, electricity, air conditioning, heating, and lighting. So, when you feel that you are socially and environmentally responsible, then digital office can be the best option.
Teamwork and shared work environment boost up the performance of a business. Working in a team, face to face discussion, and mutual support between colleagues, altogether stimulates the performance of a business. And this working condition only exists in physical workspace. Above facilities do not exist in a virtual office.
Effective technology always helps business to improve productivity. But when you work from home, you might not get always the supper speed of internet, or you might face some technical problem, that will decrease your productivity. In contrast, physical office station with having sound technical support enable a business to grow faster.
As the economy is developing day by day in Nepal, the investors are attracting to do business almost in every sector. That’s why there are lots of start-up are growing now a days. Depending on the business types, beginners can think about what kind of work station they demand in Nepal. If you want to learn more please contact with us: Thakur International & Investment Pvt. Ltd. Lamtangi Marg, Chundevi, Maharajgunj, Kathmandu-4, Nepal+977-1-4720270 firstname.lastname@example.org www.thakurintl.com