III. Industry Analysis
Virtual assistants are the backbone of any business. No company can operate without the administrative tasks that a great virtual assistant can provide. Traditionally, companies would hire a receptionist or administrative assistant to take on these duties. However, with the growth of the freelance/gig economy and the popularity of remote work, virtual assistants are quickly taking over this position. Virtual assistants provide all the work of administrative assistants but save companies an enormous amount of money. Therefore, these essential employees are in greater demand than ever.
Many markets and industries have responded positively to the availability of virtual assistants. According to PRNewswire, the virtual assistant industry is expected to grow at a rate of 11.79% over the next few years. This is substantial growth and just goes to show how essential virtual assistants are for companies. Therefore, there has never been a better time to start a virtual assistant business.