First Impressions Matter a lot. It is in Human nature to form split-second impressions with regard to others’ presumably stable characteristics, such as trustworthiness and competence. The address of a business as a first impression for clientele.
With the recent onset of the global pandemic, as unemployment benefits kicked in - the U.S. economy saw record turnover in what’s become known as the Great Resignation. An issue of not enough workers to go around occurred.
The labor shortages brought by the pandemic are only a glimpse into longer-term employment trends. With retirements in the Baby Boomer generation of workers, decreasing immigration numbers, dwindling birth rates and declines in labor force participation amongst millennials, the labor shortage and competition to recruit talented workers will continue.
Interestingly enough, despite the global economic recession caused by the pandemic, Silicon Valley continues to remain the tech capital of the world, with new consistent data of growing investments and no overall declines in jobs and population in the region. Attesting that location is the greatest determining factor in value especially for businesses and Silicon Valley as a location has proved to be invaluable.
The Silicon Valley region has become one in the same with innovation, technology, and opportunity. IT Industry giants like Facebook, Google, Apple, Intel and many others establishing their presence there, Silicon Valley has developed a reputation as a global magnet for IT talent and opportunity.
Establishing a business in such a pristine location implies ease in attracting and retaining talent. The growing concentration of tech community gathers talented young professionals with amazing economic opportunities.
However Silicon Valley real estate inventory remains excessively low, and demands increasingly high - raising up real estate costs through the roof - especially for a small business or a startup. An alternative way to establish a presence in Silicon Valley without the burdening costs of real estate or the commitment of a binding leasing contract of a physical office address is through a business address offered with a virtual office. In an increasingly remote working world, a virtual office can be a cost effective means to make a professional and credible impression with a silicon valley business address.