Importance of having a registered office address

Posted on November 28 2011 | Author: Emily Prange

Business success is largely about building consumer loyalty; and consumer loyalty lies in the ability to identify with a company that communicates trust and confidence. Having a physical office space for your company defines your company image, and helps establish a stronger corporate brand.

Most start-ups don't have the funds available to rent or purchase commercial real estate. Being cost effective is important, but compromising quality to save a buck will only hurt your bottom line in the long run. Here's why...

In today's world, working from a home office is often stigmatized. Consumers often get the idea that a home-based business isn't a substantial one.

While starting out in a home office is one thing, consider that having a registered office address gives a persona of professionalism and success before tossing the idea of obtaining an office space on the backburner. Working in a community environment also increases drive and creativity, which often lacks in a home office.

So what can you do if you can't afford an office rental but want to give your business a more professional approach?

Co-working:
Co-working is typically less expensive than traditional office space. It can be a good first step out of a home office for many. Wikipedia defines co-working as a “social gathering of a group of people, who are still working independently, but who share values, and who are interested in the synergy that can happen from working with talented people in the same space.” Do an online search of "co-working in xxxx", xxxx being your city, and you'll find websites that list various co-working facilities, such as Co-Working Toronto.

Office space by the hour:
The concept of renting a meeting room for an hour or a day is catching on with start-ups and entrepreneurs. The services usually provide a business address, mail service and 24/7 access to office space on a pay-per-use basis. It's a variable cost as opposed to a fixed cost of thousands a month on a lease.

There are solutions out there to give your start-up or home-based business a professional edge, and taking full advantage of them will help your business reach new potentials.

Emily Prange
Marketing and Events Assistant, Bioenterprise

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Filed under: Entrepreneur