Six Tips To Set Up A Traditional Business In Hong Kong That Can Shine
Setting up a traditional business in Hong Kong nowadays sounds out of date. But in truth, it is never too late to start doing anything when you can do well with it. To make it a secure and trustable business in HK, a Hong Kong company incorporation with at the HK Companies Registry is no avoidable. All you have to do is to go through some paperwork and some processes.
Tip 1: First thing first. In a traditional trading business, it may require much man power. Hiring staffs in Hong Kong (who would be sitting in your HK based office) is an expensive process and operation which takes up a lot of time, when you are the business owner. For the first 5-10 employees you are recruiting, you should not be too picky. At this initial stage, you are in need of using people. But at the same time, you should not simply hire anyone who actually have applied and sent in their resume. Be selective and pick the right persons for the right jobs.
Tip 2: Obtain a local insurance for your business. There are many types of insurance for businesses out ther. But what usually happens is that they are mostly packaged as the general business insurance policies. This does not help you to understand anything much about what insurance you are buying. It may mean that the package covers everything from product liability to company cars.
Tip 3: Make good use of systems and technologies that would fit with the nature of your business. The system you choose may not have to be the most top notch in your industry. The aim (of a good system) is to get your data and information all organized. Even when you are setting up a traditional business, you still want to get ahead of other traditional companies out there who are your major competitors. One way is use technologies.
Tip 4: A good system lets you do this: When you are away or when you are not focusing solely on a particular part of the business process, the system takes care of it for you. You can assign someone else on behalf of you to operate, but it would just produce the same results. One example is a cloud based payment system. This system should have methods to let anyone on behalf of you being able to do all these: Pay bills, pay employees, pay taxes, maintain your permits, etc.
Tip5: With the help of better technologies or systems, you must have made the operational aspect of the business as automated and efficient as possible. This leaves you rooms to concentrate on growing your business, and not get stuck with daily business processes.
Tip 6: You may consider either technology vendors locally in Hong Kong, or the ones from overseas. Some internationally recognized systems may be well tested throughout users across the world. But the systems may not fit your localized requirements. The local technologies may not be well known. But they may be less expensive and may simply get the job done for you.
Keyword: Hong Kong company incorporation