Does an Online Company Require a Physical Business Address?

Are you starting your own online company? Many entrepreneurs and business-minded people see the advantage of starting an online and virtual company. You do not have the same overheads to worry about and you can have a huge customer base just waiting to explore your products and services.

However, there is no doubt that all of the technical details can get confusing. Namely, we are referring to the process of creating the online company. One thing you will be asked to provide and show customers is your business address. But, the question is, do you need one if your company is all online?

Understand What a Business Address Is

While it may seem obvious, it is essential to understand a business address and why it is needed. Namely, this is going to be the official address of your company. It will be where people think your premises are based. Note that it is crucial that you have a business address since this is required by UK law. This is where all communications with your company will happen. Organisations like HMRC will send mail to your business address.

Do Online Companies Need a Physical Business Address?

People often assume that they do not need a physical business address because they have an online company. After all, they do not work from these premises, and the whole structure of their business is virtual. You might even have a team of people that work from their own homes and not in the office.

However, you need to understand that this assumption is wrong. The UK law requires all businesses, whether they have a physical storefront or not, to have a business address. Thus, even if everything you do is virtual, if it is classed as a company in the UK, it must have this official address available.

Where Can You Use a Business Address?

Now that you know you will need a business address for an online company, you have to decide where you want to use. Thankfully, there are many options.

Virtual Office

The first option you have is to use a virtual office. This allows you to acquire a business address for your company but without spending a fortune on rent. You can visit https://w1virtualoffice.com/business-address-london/ to learn more about this option and how you can attain a business address in London. Indeed, this can have huge benefits in terms of impressing customers. Essentially, what you need to know about this option is that you can acquire an address anywhere in the country, and it can be done affordably.

Rented Office

Next, you can choose to rent an office. Often, businesses assume this is going to be the most feasible way to attain a physical address for their business. Indeed, it can be better than purchasing. But, it will not be as affordable as a virtual office. This is an option that makes sense if you need an office for activities. Your team can work from here and it can be a good investment.

Bought Property

Of course, any property that you own can be used as a business address. Therefore, if you decide to purchase an office that you want to use for your company, this is allowed as the official address. Just note that the reputation of this postcode can have an impact on your company's reputation. So, if you are making such a big investment, you want to ensure you select the perfect location.

Home Address

Note that you can use your home address as your business address. This is a move that is legal. Of course, it is not going to cost you any money, which might be beneficial for new companies and those on strict budgets. But, you have to realise the implications of this choice. Particularly, you can lose your privacy. In addition, some customers will not be impressed by this and it can make your business look like an amateur.

Do Not Use a P.O Box

Your business address cannot be a P.O. box. It has to be a physical building and this one will not be a choice. It will not meet the criteria and it could end up getting your company in trouble. Therefore, avoid using this option. A virtual office is a better choice when you cannot afford rent or mortgage payments. Often, they have mail forwarding services you can use that allow you to access your packages and letters in the same way.

W1 Virtual Office
3rd Floor
45 Albemarle Street
Mayfair
London
W1S 4JL
info@w1vo.com

W1 Virtual Office is an established London business created and formed to help small businesses grow, larger businesses reduce cost and international enterprises extend beyond their border. Our top quality low cost virtual office services and meeting rooms both situated in London's prestigious Mayfair district, make W1 Virtual Office an ideal business enhancement for any business venture.

This release was published on openPR.