Why Should I Choose Hong Kong to Start My First Business?
Two years ago, I landed at the Hong Kong airport to start my business. On top of it, this was my first business. I have no idea where it will end, but with my determination and persistence, I own a business in this world.
Do you want to know why I chose Hong Kong for my first business place? Well, then here is how I made my mind.
I always think about the location before setting up my business. Location is one of the major pillars to set up and scale your business. So, I did comprehensive research about this place. Do you know what I figured out? Firstly, this place is strategically located near China. Being an entrepreneur, I always wanted to set up a business in that location where I can get access to the Chinese market. Here I got to Hong Kong!
Hong Kong has also taken various measures to get a good position as a gateway to China. The measures like the Hong Kong Innovation Circle, that inspires Chinese enterprises to conduct scientific research in Hong Kong.
Secondly, this place is an only 1-hour drive from Pearl River Delta, the world's largest manufacturing zone. What's more, you want from one place? Lastly, Hong Kong offers access to approximately 450 million consumer markets in southern China alone. So, this was my first reason to launch my business in Hong Kong!
Every business requires a wide range of skilled and well-educated workforce for their organization. So, was I! I also did thorough research work about how can I get a high-skilled, well-educated, and trained workforce. Without the help of the right employees, it becomes a cumbersome task for the business owner to operate.
But when I reached this place, I got to know that Hong Kong's employees are known to be hard-working, competitive, and are constantly seeking to enhance themselves. So, I was pretty happy! In fact, there are several networks and startups which will help you to get good employees for your business.
No doubt, in the starting period, it took me a while to convince people about my business idea. Bingo! I did it and started a business without any hurdles!
While opening a business, every person wants to increase their network in order to scale up their business. So, I was also thinking about that! But when I started my business in Hong Kong, I didn't have to worry about this particular area. One of the most pleasant aspects of setting up the business in Hong Kong was to get benefited from the networks in Hong Kong.
Before I started the move, I was worried about my few business contacts here about how I can get my business off the ground. Then I attended several organized networking events to attend other entrepreneurs, business owners, and executives. I learned many techniques and tactics from them.
In fact, in Hong Kong, there are also ample opportunities for online networking with active business communities on Linkedin, Facebook, and Twitter.
Moreover, there are several network events and other similar programs in HK which are just designed to help entrepreneurs like me, such as incubators and accelerators. These programs are just tailored to provide you with the ultimate support on your entrepreneurial path to success.
Business Support & Assistance
Believe it; Hong Kong has the best business support and assistance. The environment and rules of this place is quite favorable for every business owner, whether you are a resident of HK or not. The Hong Kong government has initiated a remarkable number of associated programs and the individual (private) sector to help your company grow and develop in every aspect of your business.
But to be very honest, I got stuck in one place, like registering and incorporating my business. The opening (registration) of my company, representative functions etc. In difficult situations, I received advice and support from the team at Startupr. They also make certain that I meet legally required deadlines by alerting well ahead of time.
So, these are some of the major factors that compelled me to contribute to my business and achieve success.
That was all about the business environment of Hong Kong. But do you know which tips and tricks I have followed while venturing into the Hong Kong business market? Let's read it!
The first trick that I had used to scale up my business is to think out of the box so that I could beat my rivals. Rather than sticking into one market, I took the help of my networks, and of course Startupr to launch my business and get it off the ground. Thinking big for your startup shows that you can be part of a more significant company.
Design Diverse Streams Of Revenue
My main focus was just to set up the business and increase all over revenue as I can. One of the main reasons for setting up a new business in Hong Kong is concentrating on the growth of your business. The best part about this place is that you can make extra income by increasing your streams of revenue. With the help of coworkers and business partners, I was able to drive more revenue without affecting the commitment given to the main business.
Review the Operational Strategy
While building up the best working strategy for my business in Hong Kong, I also figured out some new techniques to keep me boasted in the marketplace. Every day comes with a new opportunity. So, to be in the game, I did studies progressively and instituted some changes as per the requirements of my business entity. The strategy I was using earlier today might have achieved a significant level of success for me, but the chances are that it will become redundant in a couple of years.
You know what, Hong Kong has advanced technology. So, within a short span of time, the strategy becomes obsolete.
Note- You have to progressively review the operational strategy and establish whether the results you anticipated are meeting the needs of your business organization.
I think, now, you must have an idea about why I have chosen Hong Kong as my business location. Undoubtedly, before launching the business over here, I was quite nervous. But that doesn't mean that I kept my feet back and did nothing to increase my revenue. I launched my business in the freest economy of the world successfully.