We Are Celebrating U.S. Small Businesses This 4th of July the Virtual Way
This 4th of July we at United Virtual Office have decided that we all need to take a step back and really honor what drives are economy: small businesses. Without them, our nation would be nowhere near where we are today and the economic downturn would have held much more grave consequences. Yet, because small businesses drive innovation and spur job creation, we are on the road to recovery and, as a nation, know that we will bounce back.
So what exactly is a ‘small business’ ? They are those businesses that employ less than 100 people. In the US alone, the small business sector employs over 50% of the total country’s workforce. This makes small businesses very importantplayers in the USeconomy. Small businesses are the backbone of creativity and production. With more than 60% of all jobs coming from small businesses, there is no doubt that this sector plays a crucial role in stabilizing and stimulationUS economic growth.
According to the Small Business Association, small businesses hold 10 times more US patents than large businesses. In addition, they claim over a 50% of success rate at the four-year mark, and more than half all small businesses are home-based.
So, if more than half of small businesses are home-based, how do they have such a high success rate? Well, small businesses owe their success to the way they start-up; most do not rely on traditional methods of starting their operations such as setting up offices in exorbitant premium locations. In contrast, many small businesses rely on different means to save capital and be able to invest in other parts of their business, with many now turning to virtual offices for help.
Apart from low cost and flexibility, virtual offices provide numerous benefits that are perfectly catered to entrepreneurs and startups.
- Save on Rent:Virtual offices enable small businesses to establish presence anywhere without having to pay for offices that cost thousands of dollars to set up.
- Reduced Overhead Costs: Small businesses that utilize a virtual office space do not pay for numerous bills associated with physical offices, such as electricity, equipment, cleaning, parking and an Internet connection.
- Live Virtual Assistant and Virtual Phone Service: Administrative support with virtual offices eliminates the need for full time employees becausea live virtual assistant and virtual phone services can handle all of your calls at a fraction of the price.
- More Flexibility Means More Productivity: Virtual offices allow for flexibility and comfort, thereby stimulating productivity and increasing your bottomline.