Is Virtual Business the way forward?

Starting and running your own business is now a very real option for many, thanks to the rise of virtual, web based technology.

The BBC recently reported on how easy it is to work from an internet connection alone; no office needed! (

‘Running a business from home is nothing new. But technology such as the internet and cloud computing is increasingly providing easily-shared lower-cost software options for start-up firms. Cheap internet telephony services let you stay in touch with people half a world away.’

Friends Jamie Waldegrave and Chris Huey left their jobs to start up TipToken, a business based on virtual operations. They say operating virtually was their only option.

‘The partners are the only full-time employees of the company. For any other work that needs to be done they use remote freelancers thousands of miles away, as they don’t need full-time staff.

‘The business is web-based. Skype lets them talk to their developers and designers in India, and for all other IT needs they rely on cloud-based services accessible from anywhere, so they can share data with staff based anywhere in the world.

‘The self-funded operation started on a shoestring budget, and Mr Waldegrave says working as a virtual company is the only reason they exist.

“The cost of taking on in-house design staff and development, or keeping a local company on retainer would be impossible,” he says.

“We don’t have to upgrade to bigger offices, and we don’t have to worry about employment law. That would have slowed us down a lot. We can do things quicker and faster.”

So, is virtual business the way forward for fast paced, efficient trade? Or will there always be a place for office based staff on some level?

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