Author: Marketing Team

During the Covid-19 pandemic, there are far more of us working from home and if you have a small business, or even a larger one, you may have decided to work from a home office, or benefit from the many flexible workspace opportunities available.

In these situations, it’s very easy to default to using your home address across your website and your social media accounts, but could this decision be ultimately costing you business and new clients?

In the current climate of businesses closing in high numbers, as a direct result of the Covid crisis, people making business decisions are naturally doing more research into the businesses they trust to partner with.

Many of these searches involve a scan of the postcode, to take a look at where the business is located.

So quite literally, with Google Street View, you have a prospective client looking through your front window into your home and up and down your street!

It doesn’t take a rocket scientist to know that this is not good for business, on some occasions, you can actually see home occupants in the windows or in the garden – not exactly a very professional look.

If this due diligence is present, and only going to increase in the future, as decision makers want to grasp a better understanding of who they are choosing to do business with, surely it makes sense to box off a suitable and appropriate business address?

A London business mailbox is a smart move for many businesses.

Firstly, London is the major hub of business and industry in the UK, so your address in this location, shows that you have good connections to the city, where may of your prospective clients are likely to be located.

But more than that is the address itself. A premium address in the right location, associates your brand as being prestigious and projects exactly the right image for your business.

With a London PO box, your business can direct mail to this new address, which can be set up as your legal trading address. The service includes the scanning and forwarding of mail to wherever you are, either within, or outside the UK.

You can imagine that when a prospective client now searches for your office address on Street View, the result is far more impressive than them looking at your domestic dwelling.

A London Virtual Office, is another popular alternative, where you have greater admin support to help you run your business, through to enhanced services like a virtual receptionist, representing your business and taking calls professionally in your business name.

In the current times, businesses have to pay more attention to their brand and the message that they are portraying to potential clients.

Although working from a home office has seen a massive increase in recent months, with businesses cancelling longer term office rents in favour of home-based addresses, it’s important not to compromise on the brand message an address creates.

The additional good news, is that the cost of a London business mailbox, or a London virtual office is extremely good value with some extremely attractive offers currently available.

If you think your business could benefit from a London business mailbox or London virtual office, click here to find out more and get in touch.

Author: Marketing Team

Most business people are familiar with the concept of the Virtual Office and of having the facility to direct mail and calls to a nominated office address.

But what’s the future for the popular service in light of Covid-19, lockdown and increased home and remote working?

A Virtual Office effectively acts as a one-stop location, with modern business facilities to handle communications, leaving the business-person or employee to run things without the hassle of managing premises and employing an admin team.

In recent months, as more and more people were forced by lockdown to work from home and not commute into the office, many considered the longer term scenario and how they would manage the ‘new normal’.

Part of this consideration revolved around communications and maintaining a decent presence and the illusion of normality to customers during very unusual times.

With head-offices closed, and home working the norm, the actual physical location of the business became less important, so naturally demand for Virtual Offices have increased in recent days for business continuity.

Part of this has been to do with issues around privacy, as now communications, such as letters, packages and calls have had to be to worker’s home addresses.

The setting up of a Virtual Office means that the personal privacy of the user is not compromised as mail goes to a PO Box without the need for the person to divulge their personal information and risk it getting into the wrong hands.

One of the additional benefits that companies have seen in using the Virtual Office in this time, is an actual increase in orders and enquiries, as their calls are answered when they are unavailable without the risk of being missed.

Add to this the convenience of having mail forwarded to them, wherever they are, or it being scanned and emailed, many have seen their productivity increase due to the Virtual Office taking some of the administrative strain.

This particularly applies to owners of smaller businesses and sole entrepreneurs. That said, even teams within larger companies have reported their productivity increasing as less time has been required for admin and post duties.

With the current considerable measures in place to deal with the control of the spread of Covid-19, the reduction in close proximity contact with others that is afforded by choosing a Virtual Office has obvious benefits for hygiene.

If mail and other items are in contact with fewer hands and there is not the passing of germs caused by these items changing several hands, then risk of infection is greatly reduced.

It’s very likely that in the future, the ‘new normal’ will look like a gradual increase in the remote working model, where hubs of business will be more virtual, rather than swathes of offices with hundreds of people at desks.

Therefore, it’s also likely that the Virtual Office service will adapt and grow to fill this space, to adequately cover the demands of a much more mobile and flexible workforce.

It’s up to the Virtual Office sector to now raise up to the new requirements that are very much still evolving, but the foreseeable future looks to be one of both confidence and growth.

An increase in technology communications, Artificial Intelligence, online conferencing, telecoms will all play their part in making the Virtual Office a go-to for almost all businesses, to some degree or another in light of the Covid-19 aftermath.

Author: Chelliah Nakeeran

Chancellor Rishi Sunak is to present a Budget promising one of the biggest investments in Infrastructure to its highest levels in decades.

The chancellor is quoted as saying, ‘”We have listened and will now deliver on our promise to level up the UK, ensuring everyone has the same chances and opportunities in life, wherever they live.

“By investing historic amounts in British innovation and world-class infrastructure, we will rebalance opportunities and lay the foundations for a decade of growth for everybody.”

So with increased investment in capital projects, how does this affect the growing legions of remote workers who rely on the said infrastructure, to go about working in the UK’s towns and cities?

To put a figure on it, the Government is promising a spend of over £600bn over the five year parliament, according to the UK treasury.

Although this may sound significant, for many remote workers, struggling with the daily grind of motorway queues, train delays or cancellations and increasingly difficult journeys to and from their places of work, they can’t be blamed for viewing the news with some scepticism.

Add the additional complexities brought about by the current outbreak of Coronavirus, it’s no wonder that for many commuters and remote teams (as well as their employers) they are looking for new solution to circumnavigate these issues the 2020 Budget is attempting to solve.

One of the increasing trends amongst UK businesses is that of allowing their employees to work from home for either the whole, or part of their working week.

Whilst this can alleviate the strain of an overcrowded and inefficient capital infrastructure, it is not always the perfect solution, as some jobs just need a physical on-site presence and not all domestic environments are suitable or conducive to effective working.

The UK Budget, with its increased commitment to both physical infrastructure as well as both faster internet connectivity, coverage and reliability, all sounds good, but the fact is that any rollout of this scale will take months, if not years to come to any fruition, with many workers already very disillusioned with the status quo and the prospect of any real improvement as travel only seems to be worse across the UK.

One of the approaches, with perhaps most potential for allowing workers to increase their efficiency and productivity is the growing trend of utilising coworking spaces, closer to where workers live.

Coworking has the benefit of allowing remote workers to cut down on their daily commuting distance, yet for them to still access business-grade work premises with reliable high speed WiFi, that allows easier daily access and reduces the stress of long commutes into city centres.

One of the innovators in the virtual office space, LowCost LetterBox has anticipated this trend amongst workers and is growing its provision into both city centres and outlying regions to satisfy the growing demand for these shared workspace facilities, with its sister brand, Bludesks

Chelliah Nakeeran, founder of LowCost LetterBox and Bludesks says, ‘Although the Budget announcement of increased UK investment in infrastructure, in terms of roads, rail and motorways is welcomed, we know that for many businesses and their remote teams, there is an acute dissatisfaction and hardship that is very much here and now.

Coworking spaces allow for easier access, closer to home, so cutting down on necessary travel and also the burden of traffic on the environment. This allows for businesses and their staff to plan ahead, carrying out their tasks in purpose-built, fully equipped office spaces that can be hired as and when needed, on a low cost Pay-As-You-Go basis.”

For remote workers in the UK, it may come as little comfort that the current hardships on the roads are at least being recognised by the chancellor, with the government also set to pledge £2.5bn to fixing potholes in England as part of the Budget.

The question will be for many though, how long will all this take and will it really come to be realised, or is it just another political promise to grab the headlines on Budget day?

Come Thursday morning, the day after the Budget, we can expect that everything will pretty much look the same and so the upward trend in demand for local coworking spaces by providers like Bludesks is only set to increase as a viable answer to commuting misery.

Author: Chelliah Nakeeran

A virtual office is a cost-effective way to add legitimacy and credibility to your online business. When you rent a virtual office, you are given a physical address without the heavy burden of paying for a physical office. 

The decision for online business owners to rent a virtual office is a no-brainer. But with so many service providers offering virtual office services, it can be difficult knowing which deal is best for your business. 

Here are a few tips.

What Other Services Are Included?

Some online businesses require more than a physical address and a PO Box. Fortunately, virtual office service packages include a range of other services that can be customized to meet the needs of your business. 

Typical add-ons include telephone and answering services that are managed by a professional receptionist. Should you need to hire a meeting room, the receptionist will also be there to meet and greet your clients and provide refreshments. 

Flexibility

The purpose of renting a virtual office is to give you more flexibility – so ideally you want a virtual office service contract that allows you to be flexible.  Does the provider have a range of packages that enable you to scale up or down? 

Ideally you need a provider that works the same hours as your clients. For example, if you are a digital nomad or travel to different time zones a lot for your job, you will probably rely on your virtual office provider to field your calls, take messages and manage your post. 

LowCost LetterBox offer cheap virtual office services that enable you to manage your phone calls and mail from anywhere in the world. We can record telephone messages for you and send them by email if you are not available to take the call in real-time. 

Your mail is scanned and forwarded to your mobile phone. All your mail is stored on secure servers that are only accessible by you. Unless you want mail sending on to you, we dispose of the originals. We even sign for parcels on your behalf.

Business Address

One of the key advantages of renting a virtual office is to obtain a cheap business address. Because physical addresses are included in the standard virtual office service packages, it makes sense to choose a provider that has a prestigious address. 

Low-Cost LetterBox has serviced offices in central London with a W1 postcode. Given London is the most expensive city to rent office space, having a cheap virtual office address to advertise on your website and marketing materials creates a good impression – without the hefty costs of owning or renting a physical address.

Value for Money

Renting virtual offices is cost-effective, but that does not always mean you get good value for money with every service provider. Compare prices and investigate which providers offer the most benefits in their packages. 

The key thing to remember here is to ensure you will receive all the virtual office services you need to competently run a business. You also want to ensure the provider runs a professional operation you can trust to create a good impression for your business. 

There are a lot of providers that advertise cheap virtual office space but have hidden charges you are not expecting. Make sure the advertised packages are the price you pay. LowCost LetterBox do not have any hidden charges. 

Finding the right virtual office for your business is important so make sure you conduct thorough research and consider which virtual office services you most need.

Author: Chelliah Nakeeran

As more people start online businesses, there is a trending need for virtual office services. Consequently, the virtual office market has grown considerably in recent years. 

Whilst the plethora of providers makes it easier for online business owners to access virtual office services, it also makes choosing the right partner a difficult decision. 

First and foremost, you need to decide what you need for your business. Virtual office services include mailing address, mail forwarding, telephone answering, receptionist. Many providers also offer hot-desks, private offices and meeting rooms. 

Below is a list of questions that we recommend you ask virtual office service providers before deciding who to partner. 

What Postal Address Will I Have for My Business? 

One of the perks of a virtual office is you can use their postal address as your trading address, and even your official registered office. To get the best value for money, opt for a cheap virtual address in a prestigious central London location. This will project a positive image for your business. 

Do You Offer A Virtual Assistant? 

Some virtual office space providers employ a receptionist who can also be on hand to meet your clients and field your telephone calls if you need to include other virtual office services in your package.

How Does Your Telephone Answering Service Work?

A telephone answering service is a useful add-on for many online businesses, especially if you receive a lot of calls that distract you from your work. 

Ideally, you want a telephone answering service that offers a dedicated landline which will be answered under your business name by a professional receptionist. Calls will then be forwarded on to you with caller ID. If you are unable to take the call, the receptionist will take a message and notify you by email. 

How Does Your Mail Forwarding Service Work? 

A key component of a virtual office is the company handles your post and forwards it on to you. Ideally, you want a service that enables you to access your mail without additional charges. These days, most firms will scan your mail so you can access it from your mobile phone. 

Other services require you to collect the post from the service centre yourself, or they will forward the physical version to you via Royal Mail. Ask whether additional charges are added on for this? 

Do You Sign for Parcels? 

Not all virtual office service providers or PO Box service providers will sign for parcels on your behalf. If this is an important prerequisite for you, make sure the service is offered. You should also ask whether they have a maximum size restriction also.

Do You Have Meeting Rooms, Hot-Desks and Private Offices?

Many virtual offices are also co-working spaces and have amenities you would typically expect in a fully-functioning office. Such facilities can come in very useful to online businesses. 

For example, working in a co-working environment is a good way to network and make new friends. It also gives you a change of scenery and the buzz of being in an office. 

Ask the service provider how much they charge for private rooms, dedicated desks and hot-desks, and whether you can rent them by the hour.

There may also be times you need to meet with a client for a face-to-face meeting. Hiring a meeting room at an hourly rate at the virtual office space gives you the opportunity to make a good impression. 

Ask how much notice you will have to give in advance to book a room. Also, ask whether you lose the deposit if the meeting is cancelled. Some providers offer a refund if you give them more than 24-hours’ notice.

What Are Your Business Hours? 

For online business owners that expect to use additional virtual office services, knowing the providers operational hours may be a decision-maker. 

You want to be assured the receptionist will be available to take calls – especially if you have clients in different time zones. You may also prefer to work late and need a hot-desk that is available in the evening rather than standard 9-5 office times. 

Are There Any Additional Fees? 

This is a very important question because a lot of virtual office service providers do not advertise the full price of their services. There can sometimes be hidden costs involved such as a security deposit, admin fees to set you up and VAT.

Whilst discussing payment terms you should also ask how much notice you need to give for cancelling the service and whether you can set up a direct debit for rolling payments. 

LowCost LetterBox is proud to offer a fully comprehensive virtual office service – with no hidden charges. Feel free to call us and ask any questions from this list and, of course, any other questions you may have. Our friendly and professional staff is happy to answer any questions you have.

Author: Chelliah Nakeeran

In today’s connected world, it makes good business sense for entrepreneurs, freelancers and start-ups to reduce the costs of running a business and rent a virtual office or serviced office. 

Virtual offices provide a solution for thousands of entrepreneurs and freelancers in the UK. The primary reason for the shift to a serviced office is because they dramatically reduce the cost of running a small business.

Significantly Reduce Monthly Overheads

The most obvious saving is the significant amount you save on monthly overheads you pay for renting private commercial space. Hefty rental payments can be an excessive burden on small business budgets and prevent you from investing in other areas of your business. 

What’s more, some virtual office providers also offer serviced offices and flexible co-working spaces which are furnished and kitted out with all the technologies you would typically expect in a fully-functioning office including printers, photocopiers, broadband internet and A/V hardware for giving presentations. Therefore, start-up do not have to invest in technological hardware.

Eliminate Running and Maintenance Costs

Maintenance and utility costs in rented office space can be costly – especially old buildings that are not energy-efficient and require multiple repairs. When you rent a virtual office, you get a physical address without any of the hefty costs involved with renting and maintaining a physical building.

Serviced offices include minimal charges for electricity, plumbing, appliances and depreciation of the building in the package price. Because these charges are typically shared by everyone, the amount you pay as a small business is far less than a commercial building. And the charge is built into the monthly rental fee, there are no surprise costs that have not been accounted for. 

Call Answering and Forwarding Service

Low-Cost Letterbox provides an optional call answering and forwarding service. You will be given a dedicated landline number and save a significant amount of money by not having to pay your own employee a salary. The average pay for a receptionist in the UK is £7.92. Our fees range from £8 a month to £45 a month depending on which package you choose.  

Our professional receptionist will field your calls, answer basic questions and take messages under your business name. As far as the caller is concerned, they are speaking with a member of your staff, giving the appearance that you have your own receptionist – but for a fraction of the cost. 

Attract More Customers 

When you rent a virtual office with LowCost Letterbox, you have the privilege of showcasing a prestigious address in central London – which you can use on your website and other marketing materials. 

A prestigious address in central London projects a positive impression on your business and could help you secure more clients. It will almost certainly improve your SEO visibility because Google ranks local businesses with a physical location higher in their search listings. 

Renting a virtual office address is the smart way for small businesses to cut the costs of running a business – and enables you to invest more of your budget into growing your company and boosting your bottom line. 

Author: Chelliah Nakeeran

It is estimated that 50% of the UK workforce will have the opportunity to work remotely next year. 

The rising trend of remote working has also ushered in an era of virtual office space. Virtual offices enable companies to be more flexible – but more importantly, save a significant amount of time and money. 

Whilst cheap virtual offices typically offer the most value to start-ups, small business and home-based businesses, in today’s commercial landscape that is not necessarily the case. 

Mediums-sized businesses and large businesses are also starting to take advantage of the cost-cutting solutions virtual offices provide. Businesses that want to give employees more freedom to work from wherever they want also recognize the benefit of renting virtual office space. 

Slash Office Overheads

Renting virtual office space enables businesses of all sizes to significantly reduce the cost of running your business from commercial office space. In London the cost of office rentals is extortionate and with fewer staff in the office at any one time, businesses have the opportunity to down-size. 

The average cost of renting office space in the West End was £112.50 per square foot in 2019 – the highest in Europe. With two prestigious locations in central London, Low-Cost Letterbox can provide you with a cheap virtual office address that is far more cost-effective. 

When you rent a virtual office address, there is no requirement for you to invest in the range of technologies typically associated with a fully-functioning office. We have printers, photocopiers, scanners, A/V equipment and high-speed internet. 

Reduce the Cost of Maintenance and Utilities

When you rent virtual office space, there are no additional maintenance fees to worry about. Minimal maintenance costs are incorporated into the monthly fee so you can easily manage your accounts without the risk of being burdened with unforeseen costs.
You also eliminate utility bills and save a significant amount on electricity and heating. For business start-ups that do not have a lot of capital, cheap virtual offices enable you to protect your budget and use it on other areas of your business. 

Mail Handling and Forwarding 

Low-Cost Letterbox also provides a mail handling and forwarding service that saves you a significant amount of time and money having to employ full-time staff to manage your business post. 

Even when you rent a cheap virtual office package with Low-Cost Letterbox, you can have access to the mailing address of our service center which gives you a prestigious address in central London.

Phone Answering and Forwarding Services

Virtual offices typically offer a telephone answering and forwarding service that is operated by a professional receptionist. At Low-Cost Letterbox, you are given a dedicated landline which is answered under your business name. 

Our receptionist will divert calls to your mobile phone – together with caller ID if you prefer. When you are not able to take a call, the receptionist will take a message and notify you by email. Our staff is very polite and helpful and will even answer basic questions about your business. 

With the rising costs of running a business, it’s no surprise to find virtual offices are one of the fastest-growing trends in the business world today. The cheap virtual offices offered by LowCost Letterbox are even more friendly on your pocket.

Author: Chelliah Nakeeran

Setting up a business is costly for most entrepreneurs. Not everyone is fortunate enough to have sufficient capital or the blessing of the bank. 

Even if you can raise the funds to start a small business, it makes good business sense to budget wisely through the growth stage and operate on low start-up costs. 

One of the first goals small business owners should look to achieve is to identify solutions that enable you to make significant cost savings. The suggestions below will point you in the right direction. 

Hire Virtual Office Space 

Having a physical location for your business gives your brand a presence, credibility and a verified address to register your company. The issue many small business owners find, however, is that renting your own office space is a financial burden. 

Renting virtual office space costs significantly less yet still provides you with access to all the facilities you would expect to have in a fully-functioning office. We have printers, photocopiers, scanners and AV equipment that enables you to give presentations on-site. 

Virtual office space also provides you with more flexibility. You only pay for space you use when you need it, so if there’s no reason for you to be in the office you can work from home or a cafe without any unnecessary expenditure.

Not only that, but Low-Cost Letterbox also provides additional services that enable you to establish yourself as a small business without the hassle and expense. 

For example, our company formation services handle all the legal formalities of registering your business with Companies House and HMRC. You can also use our address in central London as your official trading address – which inevitably projects an excellent image for your business. 

Hot-Desking and Virtual Meeting Room

Not every business needs an entire office regularly. Hot-desking provides a cost-effective solution for small business owners that can often work from home but occasionally need access to office facilities. 

Co-working space also gives you the opportunity to meet up with other businesses, freelancers and entrepreneurs. Not only do you get the vibe of a working office, you increase your opportunities of acquiring customers. 

Likewise, small businesses that appear professional and established instill confidence in people. Having a physical office – virtual or owned – gives clients a good impression and raises their expectations. 

To that end, virtual meeting rooms enable you to meet clients face-to-face. This projects a professional image for your business and instils trust in your clients.

Invest in a Telephone Answering Service 

A telephone answering service is a cost-effective means of appointing a professional receptionist to screen your calls and project a credible image for your company – but without the expense. 

Hiring a professional receptionist in-house comes at a cost – around £16-£20k a year to be precise. A telephone answering service is far more cost-effective and frees up cash flow for you to invest in other areas of your business. 

Other than salary demands, you also save money by avoiding National Insurance contributions, sick and maternity leave, pension benefits and potential office space on the ground floor. 

Our professional receptionists provide the same service you would expect from an in-house recruit – but for a fraction of the cost. It also means that you and your busy team are not disturbed unnecessarily and can focus on building your business. 

Virtual office space will save small business and entrepreneurs significant capital that you can invest in other areas of your business. For more details, contact LowCost Letterbox today and speak with a member of our friendly team. 

Author: Chelliah Nakeeran

London is an attractive city in which to run a business on several levels. The UK capital is recognized as one of the top trading centers in the world and regarded as one of the most important cities for business.

However, London is also very expensive and known to significantly damage the budget limitations of numerous businesses. With Brexit looming, setting up a business in London could be even more expensive.

The Cost of Installing Office Space in London

Reports indicate that most businesses renting office space in London are often left short-changed. Exorbitant costs can leave small businesses and start-ups out of pocket or with insufficient space for their needs.

The average cost of renting office space in London is between £65 sq. ft a year to £133 per sq. ft a year. On top of that, you have to factor in costs for a receptionist, server, utilities, maintenance and VAT.

According to research conducted by visual.ly, renting office space in London can cost at least £28,041 a year    . Then you’ve office equipment to purchase including furniture, computers, printers, scanners, software and any other tools you need to raise your performance.

Serviced Office Space

Conventional office space is often far too expensive for business start-ups. Unless you have a significant amount of capital to invest, buying a property in London is out of the conversation.

Rented office space could be an option but are often expensive and subject to unquantifiable charges such as utilities, maintenance, security and facilities costs.

The most cost-effective solution is to rent affordable serviced office space on a flexible contract. This means you only pay for the space you use when you use it.

Many virtual office service providers also provide additional services that help you reduce costs and manage your budget including telephone answering services, professional receptionists and meeting rooms for hire.

London’s Most Affordable Office Space Locations

As mentioned above, the cost of renting office space in London varies dramatically. Euston, Tower Hill and Chiswick are the most cost-effective areas with a good postcode whilst Marylebone, Paddington, Knightsbridge and the West End is far more expensive.

Other than location, the cost of office space is charged by square metres. Ideally, you want to find offices that are big enough to provide sufficient workspace and accommodate the health and wellbeing of your staff.

The modern workforce takes the working environment into consideration before accepting a job or staying with a company. If your team is cramped into an office that is not big enough to meet their needs you risk losing your best staff.

Virtual offices in central London could provide an ideal solution. LowCost Letterbox have offices in two prestigious addresses with a W1 postcode, one near Oxford Circus underground station and the other in Baker Street.

Our offices are spacious and give you access to all the facilities you would expect from a fully-functioning office. Our professional staff is highly trained and always on hand to offer assistance whenever required.

If you need a cost-effective solution to help you successfully set up a business in London, our virtual office space gives you the flexibility and all the facilities you need without damaging your finances.

Author: Chelliah Nakeeran

A virtual office provides businesses of all sizes and budgets several key benefits.

No matter how often you need to use office space, a virtual office enables you to create a physical appearance without the financial burden of expensive overheads typically associated with running a business from an office.

Official Register Address

If you’re a limited company, you can use our address in central London to register your company with Companies House. Given their records are available in the public domain, having an official address in London W1 helps project a positive image for your company.

A virtual office also gives you a physical address to receive post. This is an ideal solution for directors that are legally obligated to have an official mailing address but don’t want to publish your private address in the public domain.

Furthermore, our mail scanning and forwarding service mean you always have access to your mail without having to pay for a physical location.

Access to Office Facilities

There will be times when you need to use typical office facilities such as a printer, scanner, fax machine or deliver a presentation. Virtual offices provide you with easy access to all the usual office facilities you would expect to be available in your own office.

What’s more, we also have virtual meeting space. Therefore, if you need to meet a client in person you can hire a meeting room for as long as you need. We even put up signs with your company name and logo on it to create the impression the virtual office space is a permanent placement.

Dedicated Telephone Line and Receptionist

Receptionists project a good image for your company and can field calls you may be too busy to take yourself. With our telephone answering service, you have access to a professional receptionist and a dedicated landline at a fraction of the cost.

Professional receptionists demand a significant annual salary which may not be financially viable for many businesses. A telephone answering service also means you never miss a call when you are otherwise engaged in a meeting or stretched to meet a deadline.

Our receptionist will take the call for you and pass it through to your mobile or landline. You will see the number of the caller on your screen – so you can choose whether you want to take the call or not. Our receptionist will even take a message for you and answer basic questions.

More Flexibility

If you are an established company with existing employees but looking to cut costs, or you are switching location, renting virtual office space gives you the flexibility for both short and long-term periods.

You can rent office space from as little as one hour to as much as an entire year. Should you need to book for long-term residency you even get the benefit of a discount.

Virtual office space gives you more flexibility. You only need to pay for the desks, offices or meeting rooms you use and because virtual office space is significantly less expensive than most offices cost to rent, the savings you will make can be put to better use in other areas of your business.

Even if you are relocating to another office and need a short-term fix in-between times, virtual offices provide a cost-effective solution. Virtual office space is being adopted by companies of all sizes and for a variety of reasons so why not take advantage of the benefits.

If you want more advice about our virtual office space and the additional services we offer, get in touch today and speak with a member of our friendly team.

Author: Chelliah Nakeeran

PO Box address services have changed significantly in recent years. Yet when people think of a mailbox service, the first thing that automatically comes to mind is the traditional PO Box service offered by Royal Mail.

These conventional Royal Mail PO Box addresses don’t provide you with an actual address. This can be a disadvantage for some users.

Subsequently, PO Box address service providers like LowCost LetterBox, have created an alternative solution. We call them mailbox addresses to differentiate them from the traditional PO Box service.

Mailbox addresses give you all the benefits as the age-old PO Box. They provide you with a private mailing address to receive and access mail in a secure environment.

Although a PO Box and a mailbox rental address are fundamentally the same, there are several significant differences between the two.

Why Do You Need A PO Box or Mailbox?

Having access to a mailing address other than your private residence can provide you with several advantages. The type of people who typically benefit from a PO Box or mailbox are:

• Small businesses, freelancers and entrepreneurs who work from home
• Businesses that want to keep their office address out of the public eye
• Company directors who do not want to publish their residential address in public forums
• Overseas businesses that want a mailing address in the UK
• Residents in shared or temporary accommodation who want sensitive mail to remain private and secure
• People who receive sensitive mail at a location shared by others and thus at risk of fraud and identity theft
• Expats who need a PO Box in the UK for business and personal use
• Frequent travelers who do not have a mailing address

What Can You Expect From A Smart PO Box Service Provider?

Renting a mailbox provides you with an actual address. At LowCost LetterBox, we have several mailbox addresses in London, including prestigious addresses in Oxford Circus and Baker Street.

The capacity to publish an actual address on your website, business stationery and marketing materials is particularly advantageous for business owners, freelancers and entrepreneurs who work from home.

A physical address projects a positive image of your business and lends credibility to your services in the minds of prospective clients and customers. Large businesses can also benefit from mailing addresses.

When you register as a limited company in the UK, you have to report your official mailing address to Companies House and publish the address on your website.

Directors of a limited company are also obligated to report a physical mailing address to Companies House. Again this information is made available to the general public.

A PO Box mailing address provides you and your company with privacy and protection. It is not unusual for unwanted visitors to turn up at your home or place of work.

A PO Box service provider is obligated to maintain client confidentiality. We will not reveal your private address to anybody – other than the police if they are investigating a crime.

PO Box Mailing Address in the UK

You don’t have to be a UK resident to benefit from a PO Box mailing address in the UK. You can live anywhere in the world.

If you are the owner of a business overseas, an expat or travelling the world, a PO Box mailing address in the UK is a convenient solution. LowCost LetterBox also provides mail forwarding and mail scanning services.

Mail scanning involves scanning your post to our secure servers so that you can access them on your mobile phone or computer – no matter where you are in the world.

Alternatively, we forward your mail to an address you provide us. This means you are free to move around at will. Just let us know your change of address. With a PO Box postal address, you only need to inform one company one time rather than a dozen or so people every time you change location.

Renting a mailbox also means you can receive parcels and packages shipped by international couriers. The standard PO Box service offered by Royal Mail does not enable you to receive post from third-party couriers.

What’s more, Royal Mail does not sign for recorded deliveries. Subsequently, if you only have a standard PO Box, you are limited as to the type of post you can actually receive there.

LowCost LetterBox is happy to sign for recorded deliveries on your behalf. We will even forward them on to you or keep them in our secure fulfilment centre until you collect them.

A modern mailbox rental service offers you much more flexibility than the standard PO Box service.

LowCost LetterBox also provides a wide range of other services that you may find useful alongside a smart PO Box mailing address. Check out our standard packages or tell us what you need and we can customise a package that is tailor-made for you.

Related articles:

PO BOX IN LONDON: HOW DOES IT MAKE A GOOD BUSINESS IMPRESSION

HOW A VIRTUAL OFFICE CAN HELP YOU (RUN YOUR BUSINESS FROM HOME)

BREXIT: HOW TO KEEP START-UP BUSINESS COSTS DOWN AFTER 

Author: Chelliah Nakeeran

If you intend to start a private limited company in the UK, you have to register your business with Companies House.

Before you decide to set up a business in the UK, you need to decide whether you will register as a private limited company (LTD), a public limited company (PLC) or a limited liability partnership (LLP).

The type of company you register is an important decision to make in terms of tax obligations and how the company is administered should you go into liquidation.

You will also need to think of a company name that is not already taken. Check on the Companies House website for availability together with the restrictions imposed by UK law about the naming of a business.

The name of your company should not contain any sensitive words or sound too much like an existing company. If you plan to build a website, the name of your company may also be influenced by available domain names.

Registered Office

Private limited companies in the UK are expected to be held accountable. Subsequently, the address you register with Companies House must have a physical presence.

Also, when you register as a private limited company in the UK, your business address, and the director’s service address will be in the public domain and available to anybody. Subsequently, it’s best practice to avoid registering your home address. The security issue alone could be a concern, but it also leaves you open to an increased number of cold calling and potential cyber attacks.

Check out this business forum to see real-life issues involving business owners that have registered their home address with Companies House. It’s not a comfortable read.

Directors Service Address

The directors of private limited companies are also obligated to register a service address. The service address must also be a physical location where directors can receive personal mail together with authorised notices from HMRC.

A service address does not have to be located in the UK. It can be anywhere across the globe. However, most people will use the registered address of the company to boost the credibility of directors.

The service address you choose is also published in the public domain and readily available on the Companies House website. Therefore, it is better to avoid using a home address.

Register A Limited Company Through A Registrar

Although you can register with Companies House online, the most cost effective and easiest way to register a private limited company in the UK is to use a third party registrar.

Using a company formation service agent gives you several distinct advantages;

• They are less expensive
• You can use their address as your registered address
• Saves you the hassle of filling out registration forms

Companies House charge a £12 fee to register a private limited company with them online. If you do this by post, the cost is £40. Processing time is 8-10 days. For same day registration, the fee is £100.

On the other hand, you can register your private limited company with LowCost LetterBox for as little as £2.99. We can even register on the same day and send you the official documents by email within three to six hours.

Using our company formation services gives you the confidence that your application will be registered swiftly and correctly. Furthermore, we have physical addresses in central London and the surrounding areas which also project a positive image for your business.

To avoid making the private address of directors available to the public, using the services of a company formation agent provides you with security. Plus you get a prestigious London address that can really give your business a boost.

Related articles:

PO BOX IN LONDON: HOW DOES IT MAKE A GOOD BUSINESS IMPRESSION

HOW A VIRTUAL OFFICE CAN HELP YOU (RUN YOUR BUSINESS FROM HOME)

9 TIPS FOR COMPANY FORMATION IN 2017 (FOR THE UK BUSINESS)

Author: Chelliah Nakeeran

Brexit has potentially scuppered the plans of start-ups and small businesses. Other than the damaging financial setbacks, there is heightened uncertainty over admin time spent on paperwork, cash flow and delivery services.

Teresa May’s exit strategy has been met with derision and concern by small business owners. Start-ups also face an even steeper incline following the government’s failure to negotiate a deal that allows Britain’s businesses to trade in the EU single market.

Once Britain leaves the EU on 29th March 2019, businesses in both the UK and in Europe will be hit with VAT costs upfront on all imported and exported goods.

The additional expenses piled on business owners could create problems with cash flow and profits will take longer to recoup. As a result, small businesses trading between the UK and the EU need to find alternative solutions to save cash.

Reduce Overheads

The biggest cost-saving initiative for start-ups is to buy a business mailing address and use virtual office facilities as and when needed. Virtual offices remove a huge financial burden typically associated with running a business from a physical location.

The rental costs are a fraction of the price you would pay to lease an office. You will also make huge savings on utility bills, insurance and IT infrastructure.

Not only that but when you rent virtual office space, you can even take advantage of admin services that are typically associated with a business.

For example, some companies provide telephone support and mailing services where your customers can reach you.

Gain Credibility

Our virtual offices even have meeting rooms in a first-rate modern building where you can meet with your clients in person. You can hire meeting rooms or hot desks by the hour and have access to Wi-Fi, a reception and refreshments.

As a result, you can reveal that you are a legitimate business without paying hefty overheads. Furthermore, you can invest the savings in other areas and grow your business quicker.

Work From Anywhere

A business mailing address in London can improve your professional image and create a good impression with customers. Small businesses that can still survive in London in a post-Brexit world have to be successful!

For all intents and purposes, when you have a business mailing address, your business appears to be running from the physical location stated on your website, stationery and business cards.

In terms of communication channels, it is.

However, a business mailing address gives you the freedom to work from anywhere. This can be from your home address in London, or anywhere else in the UK.

As a matter of fact, it can be anywhere else in the world. With a business mailing address from LowCost Letterbox, you have access to an entire fulfilment centre.

We accept post and parcels from all the major delivery services and can forward on your mail or scan it and send to a mobile device or email. If you do live in London, you can collect the post yourself from one of our five fulfilment centres.

Just because the majority of Britain voted to leave Europe, it doesn’t mean that small businesses in the UK have to stop trading in the EU market. You just need to find solutions that enable you to turn a profit.

Author: Marketing Team

A London address can do wonders for a business. And affording one is much more cost-effective than you might imagine. And no, you don’t have to buy business property in London. You just rent a PO Box in London.

We’re not talking about a PO Box that you get from the post office – you know the ones that make it obvious the address is a PO Box! We’re talking about a real office address where you can have your mail sent to and forwarded on to you – regardless of where you are based around the globe. You can even hire office space by the hour and hold meetings with your clients in our London offices.

If you want your business to create a good impression without having to foot the hefty costs of owning a business location in London, a virtual office address is an ideal solution.

Addressed to Impress

An actual business address makes your business appear professional and credible. A PO Box in London will earn you even more kudos with potential clients.

First impressions go beyond initial talks, they are the foundation stone of how a person perceives your company.

A London address creates the impression of a thriving and successful business. Your business could be thriving anywhere in the world but for all intents and purposes, a PO Box address suggests you are based in London.

And this is a key factor for many of today’s entrepreneurs and sole traders. Whether you work from a home office or travel and work online for a living, a PO Box in London can establish you as a credible business.

Premium PO Box in London

Having a PO Box in London is one thing, but a business address in central London is another lever that notches up a client’s impression of your business.

Image plays a major part in the business world, and central London is a hub with masses of influence. Why settle for any old virtual address in London when you can get a premium address in the centre.

We have fulfilment centres in Oxford Circus and Baker Street – a W1 postcode that has the X-factor to give your business an A1 image!

You can see all our London Centre locations here. And the address you see on our website is the address that will appear on your business card, stationery and website.

Google Map Pin

For businesses to flourish these days, you have to be online. And without a physical business address, Google, or search engine users do not trust you are an authentic business.

To really take advantage of search engines, you need to be leveraging your credibility in Google My Business. One of the key ingredients that enables you to stand out and make an impression on Google Maps is an address with a pin in it.

A PO Box in London not only enables you to create a good impression for your business, you also have a personal mailing assistant. And we can reach you in any part of the world!

LowCost LetterBox is a fulfilment centre with plush office space – so we can handle all your mail and provide you with office space whenever you need to entertain your guests in person.

Like this post? Feel free to share. See our most popular posts below.

Author: Marketing Team

When starting a business it’s important to have an idea of what you are getting yourself into.

The reality is that starting a business can be very costly, as there are a number of services and systems that you may require to keep your business and yourself in check.

Making the right decision and knowing what you will need to purchase for new business will go a long way towards keeping your startup lean and healthy.

Skip to:

Get set up with a payroll system

Get an accountant

Invest in client relationship management

Use a project management tool

Make use of professional business service

Get set up with a payroll system

Generating your employees pay can often be a nightmare to manage. However, if you are going to employ people to work for you, it’s important that they are well looked after. Payroll can often be outsourced to an accountant.

However, it may be best to enroll your business with a payroll system. Some systems such as Payroo’s payroll system, can be used to manage a number of legalities surrounding pay ethic. This service links to HMRC for RTI submissions, Nest Pensions for your employee pensions and it allows up to 10 free users to access its features. Your employees can also check their pay slips and manage there taxes, P60s and P45s.

Get an accountant

Hiring an account can be considered a necessity for your business. They can help with a bunch of different things that may otherwise be difficult to do by yourself. They can help with loan applications, government audits, payroll and general bookkeeping.

You won’t always need to hire an account full time, you can hire one on a pay-as-you-go basis and just use them for the tasks you deem most fundamental to managing your business.

Hiring a professional to look after some of your business practices makes serious sense. You’ll have the reassurance that a professional is looking out for you and your businesses legalities.

You may need an accountant to help with;

Writing a business plan

Advice about legal structure

Help with managing your business’s finances

Audits & Pension Schemes

Xero.com is great accounting service provider and may be a good place to start looking.

In a recent article, Xero stated that it may take you up to 10 hours to do your taxes, if your time is worth its weight in gold, outsourcing this particular task to an accountant could prove to be a win win scenario.

Invest in client relationship management (CRM)

There may be a time when your business is starting to kick-off. When your startup really gets started you will need a platform from which to manage your clients and customers.

A CRM is also used to manage the data associated with those customers. As your customers use your site and its popularity increases, making sure you maintain the profile, accounts and data of your customers will become increasingly prevalent for your business.

Every time someone at your company picks up the phone to talk to a customer, a vast amount of information is shared and exchanged.

Without a CRM or some basic data recording you will miss out on a potential truck load of information you can keep on your consumers. Everything you find out about them can be recorded in a CRM. If a customer calls or makes an input on your website you will need to be there to capture their data.

Every inkling of information you can get on your customers will go along way towards converting those leads into sales.

By making sure you invest in good quality CRM you can keep a closer eye on your customer base and tailor your products, sales and marketing techniques accordingly.

CRM tools are plentiful but again, shop around and make sure you find the best deal. The services can vary greatly in what they offer and some are more tailored to specific business types so bare that in mind when you come to make a decision.

CRM or customer relationship management will be essential for any B2B or B2C based business.

A more detailed article here.

Use a project management tool

No matter where you work in business, it’s quite likely that you will have a vast number of tasks to do on a daily basis. It can be easy to keep track of these task by simply creating a list or by creating a sheet in Excel or Google sheets.

However, most businesses that have 5 or more employees with a busy workload will need a centralised and preferably cloud based, project management tool.

Tools like Dapulse, can help you to keep track of your tasks with all the benefits and requirements that are desired by professional project managers.

Most project management tools use online cloud based systems that allow multiple users to login from varied locations.

A project management tool may include;

Projects & Tasks – List based input with schedules and deadlines

Contact Management – Simple CRM

Real-time – KPIs (Key Performance Indicators)

Quoting and Invoicing

Team collaboration – Tasks to be tracked and scheduled by multiple team members

Online Team Discussion and Live Chats – For real-time collaborative work

Reporting and Tracking – For large projects with multiple inputs from team members

Task delegation – for project managers and team leaders

Message Boards – For project discussion

Email and desktop notifications

This list includes just some of the many technicalities and good project management tool can offer.

Basecamp, Dapulse and ProofHub are good places to start looking for project management tools.

Make use of professional business services

Last but certainly not least. Professional business service are a must for most new businesses. They can be useful, especially if you are not fortunate to have an official office location. A professional business service is an essential service to keep your business healthy.

Often a professional business service comes in the form of virtual services. The professional business provider can give you mailing addresses and phone lines that do not exist in your office. Instead they are managed from the physical location of the provider’s own space.

For example, a virtual mailing address would be suitable for business owners who do not have a physical office address themselves. By signing up for a virtual office a new business owner can find a cheap solution for the management of their business and personal mail. You can also get packages and parcels signed for and kept securely.

This is certainly useful if you are out of office or a busy entrepreneur. You can rest assured that a team of professionals will be there to answer your business enquiries. A provider will sort through all of your physical mail. Most will even notify you via your preferred contact method to let you know that you have received mail.

Employees from a professional service provider can even open letters and parcels for you in your absence. As a business owner you will never miss an important letter from the bank or delivery of goods whilst at work.

In addition, most virtual office and virtual mailing address services will forward your mail to you. Here at LowCost LetterBox we can even scan all of your letters to be sent directly to your electronic inbox (email).

Virtual address services will be essential if you live in temporary accommodation or if you are a serial entrepreneur.

We hope you found these tips useful.

Be sure to keep an eye out for our latest posts.

All the best,

The LCLB Team

Author: Marketing Team

If you’re working in a new niche you may be under threat from similar startups who have also gained an understanding of your new niche. They may be outsourcing some of their tasks to speed up their development.

If you are thinking about starting your own business or you have a business already it may be that you want to work quickly and spend a little extra cash to get those difficult to do tasks completed with efficiency and professionalism. More often than not your business will require speedy completion of tasks to get ahead of competing businesses and outsourcing could be the solution.

It may be that you are willing to do the same. If so, here are some tips on how to outsource efficiently, as well as some examples of businesses that have succeeded through making use of outsourced services.

Skip to:

What is outsourcing?

What sort of funding do you have?

How long can you take to get your product or service launched?

What do you want to achieve?

What types of services can be outsourced?

Are there any disadvantages to outsourcing?

An introduction to outsourcing

When you are first starting out, you will want to hire talented individuals with expertise in their required fields. It would normally be considered more efficient to hire an individual and to train them. Allowing them to grow along with your business will mean that they will gain a better understanding of their role and the wider goals of the business. Resulting in a more efficient situation for both the employee and the employer.

However, it’s not always that easy. Hiring talent is very expensive and the more specialist and experienced an individual is, the more that they will cost to maintain. You should always look after your employees if you want the best out of them. In reality we can’t always hire who we want, sometimes the talent isn’t available and as aforementioned it can often be expensive. So what should be done instead to get specialist work done without hiring? The answer may be outsourcing.

Outsourcing constitutes the purchasing of external services from a third party, to aid with business growth and practice. This is often an alternative to hiring talent directly under the employment of a business.

Although often shrouded by controversy, it’s important to understand that almost every business will need to outsource services at some point in its lifespan. There are efficient ways of doing so. I can’t talk too much about specific services as every business varies but there are a number of services out there that are required by almost every operating business.

Before you can decide whether or not your business needs to outsource talent ask yourself the following questions;

What sort of funding do you have?

Will you have issues with cash flow if you outsource specialist services? You may need to asses you finances to see if outsourcing is the right option for you. Most services will charge on a monthly basis, whether that is a quarter or half term the reality is that paying for a great external service may require paying out large sums. Running into issues with cash flow can cripple your business and leave you, your employees and customers in a bad way.

On the other hand consider if you have enough cash to hire the services via an internal employee. Essentially, try to understand if you can save time and effort by hiring directly rather than using an outsourced service. If you do decide to outsource, let’s say a developer for example, you will have to understand that they don’t work for you directly. Asking them to work like they do will not be possible, as they will have to spend time with their other clients too.

Once you are happy with their work it may be that you hire an internal developer to continue where they left off. If that is the case, remember that it will take them time to transition between the work that was done by the external developer. The type of work you outsource and its immediate relationship with your business should be a factor in deciding how you hire the related services.

More often than not an outsourced service will be cheaper but try to hire these specialists for one off tasks. Maintaining use of an outsourced serviced will not be beneficial in the long run. If you are going to need a job doing for an extended amount of time it’s usually recommended to invest in your own people.

How long can you take to get to your product or service launched?

Often times running a business can be demanding, none more so than when going out alone. If you have researched your niche and are working to build a business in an untapped or emerging market place it’s more than likely that you will run into direct competition and speedy development could become the fundamental factor that determines your success.

If that is the case outsourcing could be extremely beneficial.

Many successful businesses have be launched on the back of outsourcing. Slack, a business recently valued at $3 million, initially grew their business off the back of a outsourced service.

If you find yourself in a race consider that you may need to get to market first. You will be beaten out if your competitors outsource and you don’t. It can be crucial to determining your success.

In a previous article Top 5 business tips (for Startups),  I highlighted a company called Eve Sleep. A brand new business developing comfortable mattresses. Their CEO, Jas Bagniewieski faces a tough competition with a number of new mattress brands appearing since his initial success. A perfect example of a niche business sector currently undergoing a race for expansion.

Getting setup quickly and using your funding to power through the competition is great if you can afford it, and doing so you will most likely find benefits to outsourcing in that case.

What do you want to achieve?

Consider your niche market.

If you are building a brand new app that’s never been done before, the chances are that outsourcing programmers will not be an option for you. Keeping your idea safe will be a top priority and the type of application you develop may require ground-breaking design in which case you will need to hire someone you trust and keep them working for you internally.

It’s important to consider what type of business you are running and unloading the right tasks in the right places should be something that you consider very carefully.

What types of services and can be outsourced?

Again it’s important to note that every business is different but there are number of services that are going to be a mandatory requirement for a new or established business.

If you are running an online business you will need;

A Web-hosting service
An Inbound Mail-server
Outbound and Mail Outreach services
Mailing Automation
Developers
Graphic Designers
Social Media Marketing
Search Engine Optimisation (SEO)
Paid Click Specialists (Pay-per-click | PPC)

Regardless of whether or not your business is based online you will require;

A mailbox or mailing address to get post sent to
A company formation service to get your new business set up with companies house
Internet
Phonelines
Printing
Analytics Softwares
Payment Systems
Office Space & Meeting Rooms
Security Softwares for both websites and computers
Accounting
Administration
Secretarial Services
Booking Platforms

These are just some of the services you may end up outsourcing. However, it’s very likely that you require these and more. So consider which of these tasks can be handled by yourself or by your team, for how long and for how much. If you can’t complete these tasks then look to outsourcing but shop around and find the best service you can, that is both well priced and trustworthy.

If you require repeat work, taking the time to consider your options will pay off in the future as there can be devastating setbacks if you hire the wrong company to aid your business.

Are there any disadvantages to outsourcing?

Outsourcing is usually a very strategic and considered decision by business owners. Taking the option to outsource needs to be a carefully considered decision because there are often risks associated with choosing to do so. A business usually makes use of outsourcing when the resources and skills aren’t available internally. Nearly all businesses will need to consider outsourcing at some point during their operations.

The risks involved can include the following;

A loss of control. You may need a specific task outsourced whilst you build the funds to hire internally. This may include administrative tasks, such as telephone answering or you may need design work and web-development, if you run your business from an online platform.

Most of these tasks are on-going and you risk losing control over these specifics if you choose to outsource. A common example is when a business hires a coder, or developer to maintain a website of application. You may be able to make use of an external business to handle that side of the development, knowing that you will require additional work in the future means that the company you choose to outsource to will need to be trustworthy. More often than not a development company may move there efforts to aid another client and leave you in dust with no help to develop or maintain your service.

If this happens you can see a loss of productivity and you may have issues with the platform that require immediate attention. You could be left to find a new outsourced service or to hire internally at which point you will need to train the new employee and give them time to catch up on the existing work. This type of sudden change can be devastating in the early start of a business and this type of issue is more common than you might expect.

Its these sorts of issues that have lead to a distrust of outsourcing and why most companies take the time to carefully consider whether outsourcing is the right option. Examples of where outsourcing may be useful could be on-going services like a virtual office or mail forwarding service, these tasks can be outsourced cheaply and free you your time to manage your business without the need to sort your mail or wait around for deliveries. You may also require on off design work for a specific campaign that you are running, another example of where outsourcing could be a better option than hiring internally.

In conclusion

Whether your business is still an acorn of an idea or a fully functional organisation, the need for businesses to make use of outsourcing will not diminish anytime soon. You may be able to take advantage of experts who work virtually or be lucky enough to have the funds to hire talent. Outsourcing though, will never be outdone for the cash it can potentially save a business owner. Not only will you be able to keep costs down but the need to train and spend time with those individuals, you would have otherwise employed, will be drastically reduced. Meaning you will have more time to work on the important things your business requires from the day-to-day.

We hope you find these tips useful.

Read our previous article, How A Virtual Office Can Help You (Run Your Business From Home).

Author: Marketing Team

In business terms, bootstrapping refers to starting a business without external aid from others, from both a personal and financial perspective. It’s a good thing the technique exists, as so many of us have the desire to start our own businesses but have very little capital on which to draw from. I have been in business with brand new startup owners and I have learnt that it’s far, far easier to spend money, than to make it. There are ways however, of starting a business on next to no budget.

Skip to:

Stick to what you know

Planning for spending

Getting set up with a physical address

Crowdfunding

Partner up

Most of us have dreamt of starting our own business. You may well know the requirements of starting up but fear the next steps. Getting investors on board can seem like a mountain to climb. Especially if you do not have close friends or family with the means to back you up. For anyone who has started their own business the difficulties involved with getting interest and more importantly, investment, are more often beyond that of which, we as normal human-beings can manage. Bootstrapping a business can take away the stress of getting investors on board, by managing everything yourself and limiting your spending you may be able to kick-start your new business, stay lean and ultimately succeed all by yourself.

“Most of us have dreamt of starting our own business. You may well know the requirements of starting up but fear the next steps. Getting investors on board can seem like a mountain to climb.”

We wanted to shed some light on how and where you can gain traction for your new business. At very little or no cost to you. So without further explanation, here are our tips.

Don’t go in blind, stick to what you know.

For those who have experience working in startups, it’s often advised that budding entrepreneurs work in an industry that they already know. Familiarity with a niche domain, and by that I mean your specific business sector, is considered obligatory.

We wrote about this in an earlier article this year, our Top 5 Tips For Startups, but it’s important to reiterate this point. Starting a business without specific industry experience can be a killer from the get go.

Attempt to learn your craft first. Working in your chosen industry can give you the relevant experience and an in depth understanding of its prerequisites. Starting your business without first hand industry experience can be considered detrimental to your future success. By working within your industry, not only will you become more knowledgeable about industry trends, but you will build up insight concerning your competitors and you will have the chance to build relationships with key individuals. Individuals who may be able to give you a leg up when you need it most.

If you are reading this, it’s most likely that you have already started your business or are on the verge of doing so. Being told to get a job in your chosen industry may seem like a taking a step back, or at least a distraction from your own business venture. However, you can gain industry insight in a number of ways.

We are lucky today in that we have access to unlimited resource from the internet and most online social communities are incredibly friendly and willing to help. So get on Reddit, get in Facebook groups and get on Twitter to shout for help. Some experts may even be willing to lend you their time face-to-face.

You could also join a co-working space like central-working. You may find yourself surrounded by entrepreneurs who have the same difficulties as you or even those who have learnt to surpass them. Don’t go in blind and certainly not alone.

Planning for spending

O.K, so I have just spoken about how Bootstrapping your business can be beneficial as it usually means no cost. The reality is that there is no such thing as a purely bootstrapped business. The aim here would be to limit your spending as much as possible. Stay lean.

Gain a considered understanding of what your costs might be. The services you require, advertising, labour and design. If you’re manufacturing, what costs might you be subject to? Consider any penalties or administrative costs as well. It’s best to overestimate here. Once you know what you might be spending on you will be able to go through your ‘shopping list’ and determine which services you may be able to negotiate on and which individuals may be able to help you with either free help or significantly reduced costing. Taking steps like this is great business practise. You can download a free business plan template from the princess trust. Use it to form your business practices and get an idea of what your costs might be. If you have a friend who works in finance, now would be the time to communicate with them.

Getting set up with a physical address

You may have the urge to get set-up with a physical office location. Having a place to work outside of your home can be really tempting when you first start out. There are certainly advantages to renting an office. You can make use of printers, phones, computers and have a clean and neat environment which ultimately might help you to stay focused. Not to mention the additional space for a studio or simply your new employees.

BUT..

And it’s a big BUT. The cost of a physical office can be huge. Paying rent and office admin fees may take away all of your profit and if you are first starting out, the last thing you want to do is to spend your hard earned cash on assets that do not bring immediate return to your business. If you are still determined to get an office make sure you have customers first, running into problems with cash flow early on can paralyse your business and may end up leaving it dead in the water.

However, there are always alternatives to renting an office. You may already be aware but if you aren’t, it’s important to know that most services you expect from a rented office can be hired at a significantly reduced fee. Instead of renting an office with a physical location you can use the service provided by a virtual office provider.

A virtual office includes;

A Trading Address. This is used for trading purposes, you can send and receive mail with this address.

This means any spam mail can be filtered here and important mail won’t go missing as you can get your provider to notify you about certain letters you may be expecting.

You will also get that mail forwarded to an address of your choice.

Some services allow for email and text notifications when you receive new mail.

Any mail you do receive can get sent to your home computer or mobile phone. Your provider can open your mail with your consent and proceed with making a digital scan which can be sent to your electronic devices.

A virtual office may also include a telephone landline with a telephone answering service. Also known as a virtual assistant.

An address in a prime location may be used to represent your business and can often impress clients.

Remember when trying to bootstrap your business you must always consider options that can cut costs.

Crowdfunding

Crowdfunding can be a great way to kick-start your business. It’s the practice of funding a project or new business venture by raising small amounts of money from a large amount of people. Crowdfunding can be achieved in a number of ways, through mail-order subscriptions or benefit events but the term usually refers to a method via internet related registries. Crowdfunding has been popular for a number of years and has contributed to the rise of a number of amazing projects that otherwise couldn’t have been possible without it.

There are a number of crowdfunding platforms available today. Some include;

Funding Circle

GoFundMe

CrowdFunder

Kickstarter

Some of the most successful businesses in the past few years have been a result of crowdfunding. One project, a crowdfunded video game called Star Citizen created by Wing Commander boss Chris Roberts, made history by becoming one of the largest crowdfunding projects to date raising $163 million. This meant that funding had surpassed that of most triple A video games from larger studios. Star Citizen began its funding on KickStarter. More recently a digital currency by the name of Filecoin, a blockchain virtual currency from the Ethereum platform, became the largest ever crowdfunded project, raising over $257 million dollars!

Crowdfunding has proved itself as a viable method of lean business design. However, if you are going to get people to buy into your business you must make sure you deliver on your promise, failure to do so will result in disaster and a collection of angry customers.

Partner-up

Find a co-founder. You can’t undertake this journey alone. Having an extra pair of hands to help you out, with an extra set of eyes to watch over you can be extremely valuable when you are first starting out. If you are bootstrapping your business, most of your work will be done internally. Your co-founder should bring additional funding but your skill sets should also compliment each other. If you can cover a broad range of skills between the two of you, you will have less chance of needing to outsource those projects to external specialist which will prove costly. Maintain the philosophy of low-spending.

Bonus

Focused on yourself as well as your business.

Ask yourself these questions;

Are you hiring the right people? Are you being efficient with your spending? Could you learn skills that you need rather than outsourcing them? Remember, nothing is impossible to learn, if you can manage your time you may well be able to add to your skill set and save some serious cash.

We hope you found these tips helpful and we wish you the best of luck in your new venture!

Author: Marketing Team

We’re inviting you to share your business stories with us!

Due to the nature of our business we work closely with young startups and small businesses from the day to day.

We thought it would be interesting to hear your business stories and give you the chance to promote your business from our platform.

Doing interviews is a great way to promote yourself and by answering our questions we in turn can provide you with a valuable link back to your website.

As part of our new blog series we are interviewing small business and startup owners!

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How does it work?

E-mail us at info@lowcostletterbox.com

or contact me directly via Facebook.

Answer the following five interview questions in any way you like.

Provide a photo of yourself and any other photos owned by you that relate to your business.

We will link to your business from our site and promote the interview on social media.

It won’t cost you anything!

If you would like to be part of the series please don’t hesitate to get in touch! It’s a great way to promote your business!

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The Questions

1. Please introduce yourself and your business.
2. Why did you start your business?
3. What is your background as an entrepreneur?
4. What is the most difficult part of running your business?
5. What would you like to achieve in the near and distant future?

We hope you have fun answering the questions and we can’t wait to hear your responses!

All the best,

Tristan

DM @LCLB

 

Author: Marketing Team

Running any business is time consuming and from here in London, running a business can be extremely expensive. You may need space to work, store your files, computers and any other necessary equipment that ensures the day-to-day running of your business and for that you will require a virtual office.

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Skip forwards to:

Mail Handling and Letters

Registered Address

Mail Forwarding

Mail Scanning

Notifications

Time to collect

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I currently have a friend who is in the beginning stages or starting his own business. Like many of us, he has a dream to be his own boss and to run his project with efficiency and minor costs. We would all like to run our business with a few costs as possible but bootstrapping a business isn’t always an option.

There are usually costs involved with most businesses, however you may already be in a position where you have managed to negate some of the costs of starting up. Perhaps you were given essential equipment by a friend or have decided to make your hobby your profession. The reality though, is at some point you will require the paperwork of a business and the use of additional services to help you manage your accounts, mail or phone calls. Administration services can be expensive and more often than not, you will need to employ someone to help take calls and to deal with your clients and customers by the day-to-day.

Most of us, no matter how hard we work, will need some help from an extra pair of hands but you need not employ someone straight away. More often than not you can outsource your administrative tasks to a professional business service company.

Most professional business services come in the form of a virtual office. A virtual office can come in many shapes and sizes but usually acts as an address service. A fee is paid to the provider and in return they will sign for your mail, file it and often forward the mail to your desired address. A virtual office differs from a serviced office or executive offices in that it represents a non-physical address and cannot be used by a client or customer as a traditional office space in which to work.

The following are some services you may expect to outsource as a self starter who is working from home.

1. Mail Handling & Letters

A virtual office will usually include mail-handling. This means letters and parcels will be signed for. If you are out of your own office, whether that’s at home or a rented office, a virtual office provider can be there when you aren’t. It’s their job to sign for parcels and to deal with the postman. Letter sized mail usually makes up the majority of sent mail handled by postal services. Documents are normally printed on A4 paper (210x297mm) or a letter size (215x280mm). Although electronic mail is most popular for written correspondence and is usually the most efficient method, you may still receive mail concerning your business in the form of bills and new credit/debit cards as well as letters from your bank. Usually most written content that contains sensitive information is sent via physical mail to lessen the chances of that sensitive information being intercepted. In the United States of America it is considered a strict violation of the law for anyone other than the named addressee and government staff to open a mail not sent directly to them. However, in the UK and other countries you may request that an individual access the contents of an important letter on your behalf. A service that most virtual offices providers will happily oblige by.

Our top tip: When using your national post service to send mail (Royal Mail UK), it’s best to send your mail as registered mail. This allows the location and correct address of the mail to be tracked by you and by the mail provider. It’s usually more expensive but is generally recommended when sending and receiving important letters and parcels. Registered or recorded mail requires that an individual signs for the item upon receiving it. This method of sending is protected by The Recorded Delivery Services Act 1962.

2. Registered Addresses

Having someone to sign for your letters and handle them safely may prove beneficial to the daily running of your business but first you will require a registered address. Again, a registered address can come in different forms. Usually a provider will allow you to open two main account types.

A personal mailing address to be used by an individual for non-business purposes. This means letters must be directed to you as an individual, that’s by your own name. The address can not be used on websites, business cards or on any other form where it is showing as an address associated with your own business.

If you require the address for your business practices, usually an additional cost will ensue, but as this is the most popular use for a virtual address you will find that most services are setup to handle business mail. Additionally an individual can use a business account to receive mail addressed to their business, this also allow an individual to use the address of their virtual office as there own, for placement on business cards and daily correspondence.

The specific requirements of your business will vary but some may require that your business is associated with a prestigious address. To find out more about registered office addresses click here.

3. Mail Forwarding

Having an address to receive your correspondence, in the form of letters and parcels is great but you may also require that your mail is then forwarded to your personal address or a custom address that you have provided. A virtual office may include a mail-forwarding service. This means that you can get those important letters and parcels signed for and then sent to you, wherever you may be.

Most postal services have a mail-forwarding service although the cost and any additional forwarding fees will vary from provider to provider. Low Cost Letterbox has some of the most reasonable pricing for these services requirements.

Top Tip: It’s important to note that most providers will have a maximum size for parcels, usually a large parcel is up to 30x30x30cm or 5kg. This means that anything exceeding this size will require an additional fee to be both received and forwarded and may include additional charges

4. Mail-Scanning

Mail-scanning involves physical mail and the process of scanning the item via a scanner, to be consumed and mailed via a new electronic form, usually e-mail or via cloud services. Not all providers will include this type of service so watch out for additional charges from providers who include this service as an add on. Most of us deal with electronic paperwork on a daily basis and it may be that you prefer this type of forwarding over the traditional paper format. If this is the case look for a virtual office that includes this in their package types.

5. Notifications

So you have you virtual office up and running? Whilst your letters and parcels are being received and looked after, it then becomes no use to you if you don’t know what you have received and when. A virtual office provider will usually have a system for notifying you when you receive mail. This may be by text, by e-mail, a phone call or a notification by an app but most providers will be inclined to notify you that your mailbox has taken deliveries. Some clients may also require additional security, in which case a provider may be able to offer you alternative methods of notification.

6. Time to collect

Once you know you have mail you will need access to it. If mail-forwarding isn’t included in your plan you may need access to a nearby depot where your mail is being stored.

Top Tip: Make sure your virtual offices provider has an address close to your home or somewhere that you don’t mind commuting to collect. You will also need to bare in mind that your provider may not be open at early or late hours, beyond normal business hours, so keep an eye our for virtual office providers that have depots open 24 hours or on weekends.

Remote work and the use of virtual offices is on the rise. With an increase in rent and a decline in affordability, the most efficient and manageable system for handling your business administration may be through a virtual office provider. To find out more about our virtual offices, click here.

Author: Marketing Team

We invite you to review us on Google!

If you can help us out we can give you money off on your next renewal!

If you are an existing customer and have made use of services in recent months, you may have noticed we have been making changes to our site to offer you the best possible service we can provide.

Part of those changes mean that we would like to build trust in our services by posting reviews for new customers to see. However, we need your help, as an existing customer, if we are to achieve this!

We would love you to leave a review, it can be positive or negative, we will still reward you regardless!

 

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If you would like to help us follow these short instructions;

How does it work?

1. Click on the link down below

Review us here by clicking here.

2. Give us a star rating

3. Tell us what you think

4. Tell us that you have reviewed us or leave your name on the review and we will reward you with £10 pounds off your next renewal!

That’s it, thank you so much!