What You Don’t Know About Doing Business in Hong Kong

Starting up in Hong Kong is the aspiration of many businesses - both in Australia and around the world. The idea of making it in Hong Kong seems to have this appeal and allure that many other business centres don’t have. While there are many guides to how to start a business here, we wanted to take a look at what people don’t know - in the hopes that it helps you on the path to success. If you’re going to be living in Hong Kong as well as operating a business here you really need to read this!

Hong Kong Isn’t China

If you want to get technical about things, Hong Kong is what’s called a ‘specialist administrative region’ of China which means that it operates under a different system. The Chinese government is invisible in Hong Kong, and seems to be set to stay that way. The general gist of Hong Kong is that it’s supposed to be a business hub, and one that runs very smoothly and serenely.

Everyone speaks english in Hong Kong

Okay, maybe not 100% of people, but if you’re going to be coming here to set up a business you might as well know that everyone you interact with will speak perfect English. However, any Cantonese you can learn will come in handy here as a sign of respect, so be sure to practice your pronunciation to get it perfect. If you want to go that little bit further with your language you can hire a tutor to help you out. When you do try to speak Cantonese, people will most likely respond in English, and they’ll also probably tell you to start studying Mandarin instead. Either way.

Setting up a new office is important

A key part of starting up your business in Hong Kong is having a physical office space in the area in which you want to do business. For many kinds of legal structures in Hong Kong you will need to have a physical address - but what about the costs associated with setting this up?

Thankfully, there are a range of serviced offices in Hong Kong which you can rent to have a physical address. You don’t have any of the costs associated with starting up a new office (furniture, staff, cleaning, decorating) and you can ‘move right in’ and pop the address on your website. The benefits of this are huge, and you’ll be sure to appreciate the cost impact on your bottom line.

Everything is small

If you’re going to be moving to Hong Kong to do business as well, you need to know that Hong Kong is small. Everywhere that you go, people and businesses need to make the most of the space available, so just be prepared for this. It’s a simple adjustment, but one that may take a little time to get used to.

It gets cold in Hong Kong

There are plenty of times when you’re in Hong Kong where you will be shivering as you work. Be sure to be prepared for this! Pack plenty of warm clothes and know that some buildings don’t have central heating so you need to always pack a jumper or a jacket in your briefcase.

Is there anything on this list that we have missed about Hong Kong? Surely you have learned a thing or two that you didn’t expect if you’ve been there before. It’s always the case that the best way to learn is to dive in and keep your eyes open. Don’t expect too much, and be prepared for anything. You will be sure to be rewarded that way!