Opening your own business is a big job and the benefits of owning a virtual business can be substantial. Below we highlight the benefits we found had the most impactful effect on businesses who either converted to being online or started out being virtual from the very beginning.
1. Lower overhead costs
If you have a virtual business, you can utilize your home to work from. This means you don’t need to rent a separate office space and pay for separate utilities. The other personal benefit of that is that you can claim part of your rent/mortgage and utilities as an expense through your business which lowers your personal costs also.
2. No commuting
This is a huge benefit as you will save a lot of time because you don’t need to go anywhere to get to work. It is also a big cost-saver as no need to buy transit passes or pay for fuel for your commute.
3. Higher productivity
In an office environment, it can be very easy to get distracted. This could be due to an impromptu meeting, a quick question or coworkers wanting to chitchat around the water cooler. Having the ability to work wherever you like gives you the ability to create an environment that works for you.
4. Travel and work
Since your business is virtual, you can literally work from anywhere with a stable internet connection. If you wanted to, this would allow your to travel the world. If you are passionate about traveling while you work you may also want to consider shifting to a cloud-based accounting system if you haven’t already. For more information on this, check out our blog post.
5. Flexible Hours
One of the biggest benefits of owning a virtual business is that there is no more 9 to 5, so you can work at any time you want. This can prove especially beneficial for individuals who find inspiration at different times throughout the day, or for early birds or night owls who prefer to get things done during quieter hours of the day.
Chief Executive Officer
Ruby Business Solutions
