Virtual office corporate trend catches on

Malta has hopped on the virtual office bandwagon by opening in Swatar and the move is proving successful, according to Jan Karl Farrugia, Regus general manager in Malta.

The Regus Group, a leading global provider of workplace solutions, appears to be prospering from the current economic downfall. In a difficult financial time, with both Europe and America experiencing a period of recession, more companies are encouraging their employees to work virtually, providing them with laptops and handheld communication devices which are considerably cheaper than incurring costs on real estate property.

Virtual office contracts are increasing and appear to be today's growing corporate trend. Corporations highly encourage their employees to be mobile by helping them set up home offices and securing virtual office locations which help them to substantially save on commuting costs and improve productivity.

"It is remarkable to see how many 'home-workers' in Malta have opted to base themselves in these virtual offices. By doing so, they conduct their business in first-rated premises which offer all the comforts and high-standards of a typical professional working environment," Mr Farrugia said.

Since more companies are encouraging their employees to work remotely from home, there are times when employees need a central office to meet with clients. Regus, virtual offices serve their needs by establishing a professional business address and use support staff without the expense of hiring and managing full-time assistant.

In addition to basic office equipment like fax machines and copiers, virtual office users have access to day offices, meeting rooms, business lounges and videoconferencing studios.

Regus calculates companies can save up to 60 to 80 per cent on their real estate costs by implementing flexible workplace strategies. The company is reporting a trend of increasing month-on-month demand for the product.

"The infrastructure for modern business and office requirements are changing as we become more international. Regus meets our office needs anywhere in the world so we have a presence wherever we need it,"Alan Aitken, managing director of Fairmont Group Limited, who is a client at Regus Malta, said.

Malta's virtual offices offer foreigners and locals the facility to pursue new business opportunities without the excruciating real estate expense. Second to payroll, real estate is a company's second largest fixed expense. Increasingly, real estate expenses will come down for businesses who adopt flexible working practices and this newly-saved capital can be re-directed back into the business.

Over 400,000 clients a day benefit from Regus Group facilities spread across a global footprint of 1,000 locations in 450 cities and 75 countries, which allows individuals and companies to work wherever, however and whenever they want to.