There are a lot of perks to running your own business. You get to set your own hours, chart the path forward, and reap all the benefits of your own success. Small business owners all across the country are consistently ranked as some of the most satisfied workers anywhere in the country.
However, there’s a lot involved in getting a new business going and a lot of decisions to make. Do you need a physical business address for your new business, even if you’re planning on doing a lot of digital work?
Why should you consider a physical address? Read on and we’ll walk you through the benefits of a business address.
Opening a Business Bank Account
Can you use your residential address to start your business? Sure, it’s legal and easy enough to do.
One of the reasons why you might want to consider having a different physical mailing address, however, is because it will be needed to open a business bank account.
Keeping your business finances separate from your personal ones will be important as your new enterprise starts moving. However, many banks won’t let you open this kind of account using the same address you already use for your personal account.
Many vendors and other companies that you want to do business with may also require a non-residential address. This may not be an issue if you’re in the early, early days of your new business, but at some point, it will become a problem.
More Professional Appearance
Another reason to opt-in for a more serious non-residential address? It’ll create a more professional appearance for your business. While running your company out of your garage may be more lucrative, it’s not going to always paint the best picture of your work in the eyes of clients and potential partners.
Having an established and dedicated address for your business conveys quickly to others that you are dedicated and serious about the work that you are doing.
Maintains Your Privacy
Even if you’re running a totally virtual company, like some of those listed on flexyvo.com, you’ll still want to have at least a PO Box for your company in most cases.
For most business owners, this is for reasons of privacy. If you’re going to register your business with the state, which you’ll need to do at some point, much of your business information is going to become a point of public record.
If you use your own home address as your business address, it’ll become something people can look up easily online. Using a different address can help keep work and personal life separate.
Reasons for a Physical Business Address
If you’re looking to make a splash with your virtual business, you might be eager about getting started in the coming year. However – do you need a physical business address anyway?
The above information can help you understand why having one might still be necessary.
Need more business advice and tips? Keep scrolling on our blog for more.