Wondering why VA rates vary so much? Here’s what you’re really paying for and how cutting corners can cost your business time, money, and energy.
As a busy entrepreneur or business owner, you know that time is money and you understand the importance of delegating tasks to maximise productivity. Hiring a virtual assistant (VA) can be a cost-effective solution to freeing up your schedule and allowing you to focus on your growing business. However choosing the right VA is crucial and opting for the cheapest option might not be the best decision in the long run, Read on to understand how to ensure you’re making a wise investment.
The Reality of Low-Cost Overseas Virtual Assistants
In recent years, there has been a surge in overseas VAs offering their services for as little as £4 an hour on platforms like Upwork, Fiverr, and PeoplePerHour. While these rates might seem attractive, they often come with significant drawbacks:
- Language Barriers: Overseas VAs may struggle with the nuances and complexities of UK English, leading to miscommunications and errors.
- Time Zone Differences: Coordinating with VAs in different time zones can lead to delays and inefficiencies.
- Quality and Experience: Lower rates often mean less experience and lower quality of work.
I had a discussion just yesterday with some industry peers who shared a story about a company that initially opted for an overseas VA due to lower costs. Unfortunately, this decision led to numerous issues, including communication problems and subpar work quality, ultimately forcing the company to switch to a UK-based VA.
The Pitfalls of Cheap Virtual Assistants
Opting for low-cost virtual assistants can sometimes lead to paying twice. Low-cost VAs often lack the necessary experience and skills, leading to subpar work quality and the need for rework. This not only wastes time but also incurs additional costs. According to a recent study, businesses that hired cheaper VAs experienced a 30% increase in operational costs due to inefficiencies.
What You Get When You Pay for a UK Virtual Assistant
Paying around £30+ an hour for a UK-based VA ensures you are hiring someone with years of skills and experience, fluent English, and local and national knowledge. These VAs come equipped with their own equipment, such as laptops, and manage their own tax and National Insurance contributions. Here are some additional benefits:
- Professional Indemnity Insurance: UK VAs typically carry professional indemnity insurance, protecting you from potential legal issues.
- Cyber Threat Insurance: This ensures that your data is protected against cyber-attacks.
- ICO Registration: Compliance with data protection laws is crucial, and UK VAs registered with the Information Commissioner’s Office (ICO) are well-versed in handling sensitive information.
Additional Benefits of UK Virtual Assistants
- Self-Employment: UK VAs are usually self-employed, meaning they handle their own taxes and National Insurance contributions. This reduces your administrative burden and costs associated with hiring employees.
- Own Equipment: VAs typically use their own equipment, such as laptops and software, further reducing your overhead costs.
- Local and National Knowledge: Understanding of local markets, cultural nuances, and regulatory requirements.
- Fluent English: Proficient in UK English, ensuring clear and effective communication.
- Tax Benefits: Hiring a VA is a business related expense provided they are not doing personal tasks like life admin.
- Return outweighs cost: By hiring a skilled VA you are able to focus on activities to grow your business and drive profits.
The Strategic Advantage of Hiring a UK VA
By paying a VA to take on back-office responsibilities, you can focus on growing your business. This allows you to dedicate more time to strategic initiatives, client acquisition, and revenue-generating activities. The profits generated from these activities often outweigh the costs of hiring a quality VA, making it a sound investment.
Effective Delegation
Effective delegation is key to maximising the benefits of hiring a VA. For more insights, check out this comprehensive guide on effective delegation by Helen Phillips.
New VAs Underselling Themselves
New VAs often undersell themselves to attract clients. However, by the time they deduct 30% for NI and Income Tax, they may be earning less than minimum wage. This practice not only undervalues their services but also impacts the quality of work they can provide.
Unfortunately being a VA is being advertised almost as a get rich quick scheme, I myself found I was frustrated when people weren’t snapping up my services. It took almost 5 months, from deciding to make the leap into self employment to signing my first client. 5 months of planning, getting insurance, ICO registered, making sure I had suitable equipment, creating content and marketing my business every day on all socials, networking and sheer hard work. Then there’s the disheartening feeling when potential clients ghost you – happened to me 3 times! Rejection however is the universe telling you something is not right for you.
Being a VA is great, being your own boss is incredibly freeing and if you have the skills and the motivation to put everything into it you are going to do well for yourself.
Price vs. Value
Understanding virtual assistant rates UK and the risks of hiring low-cost can help you make informed decisions that benefit your business in the long run. By investing in quality VAs, you ensure higher efficiency, better performance, and ultimately, a more successful business operation.
It can be frustrating to constantly justify the worth of my services when quoting for potential work. Remember, “Price is what you pay; value is what you get.” If you value your business highly, ensure you’re hiring the best quality and value support.
If you value your business highly, ensure you are hiring the best quality and value support. If you are looking for VA services currently, please do get in touch. If there are specific areas I am unable to cover, I work with a large network of VAs and would be happy to put your requirements in front of them on your behalf.
When you’re ready to stop firefighting and start focusing on what only you can do, I’m here.
Learn more about working with me at EBVAAS.co.uk, or get in touch here.
Emma Bridge | Virtual Assistant 