Exhilway Plans To Launch Global Virtual Offices For SME
Exhilway Private Capital Market will invest US $5 million for setting up virtual offices for the small and medium businesses globally.
- (1888PressRelease) November 03, 2012 - Exhilway Private Capital Market (EPCM), India's largest trading platform for the unlisted private companies has planned to launch virtual offices for the small and medium businesses (SME) worldwide. EPCM plans to invest US $5 million or INR 27 crore in the new venture.
"The property prices are soaring but the new business ideas are coming up with a rapid pace. EPCM encourages small business to grow, the latest technologies, if implemented correctly can reduce the fixed business overheads like rents and salaries by 60%", said Terry Wagner, the United States based project consultant who is currently advising EPCM.
The virtual office provides clients with a business address, a dedicated phone/fax number, telephone answering services and access to meeting rooms that allow users to reduce traditional office rental costs.
EPCM will initially focus on the developed markets of the United States and the developing markets of India and China.
In India itself, over 27,000 businesses use virtual offices and the demand is expected to grow at a rapid pace of 200-300% every year, according to a report by HSBC.
EPCM will charge a flat fee of US $99 every month for the basic virtual office service, the premium service which will include telephone answering service will be charged at US $150 every month. The annual packages will be subject to discounts and offers and no first time setup fee will be charged.
Sheena Holler, an IT communication entrepreneur, says "When I started my business operations in India in the year 2007, it was the need of time to expand the business on the pan India basis. I settled for a virtual office which gave me the freedom to operate from any part of the world by a paying a very small fee. My net profitability improved and I bought my own corporate office with the savings. I still use the services of the virtual offices as the small businesses like me cannot afford to have presence everywhere."
EPCM is targeting an annual revenue of US $19 million within two years of the business operation. EPCM plans to hire a team of 20 people headed by Marta Morgan, the proposed CEO of the EPCM virtual offices venture.
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