Opportunity in a Down Economy

One bright side of the current economic downturn is that as companies look for ways to cut expenses, they are still spending on solutions to help them save overall.

For example, many smaller businesses are letting employees work from home, or using temporary or virtual offices like Regus. In order to make these kinds of changes and still operate efficiently, companies must have the right technology in place so clients and customers continue to have a smooth, seamless experience. Hosted virtual phone services like RingCentral, GotVMail, VirtualPBX and J2 Global (OneBox and eFax) allow your operations to continue, wherever your staff is located, while presenting a unified face to your customers.

RingCentral recently surveyed its small business customers and found that many are rapidly cutting down overhead cost to work more efficiently during tight economic times. They found:

• 75% of small businesses have been negatively impacted by the economic downturn
• 72% of small businesses are reducing overhead costs due to the economic downturn
• Nearly a quarter of small businesses are reducing overhead costs by eliminating cost of physical office space
• Only 16% of small businesses have staff centralized in one physical office. , - 72 percent work from a home office - 29 percent have staff in multiple locations across the US - 18 percent identify themselves as road warriors If your business offers services that help cut overhead expenses and work more efficiently, this could be a time of growth opportunity.