Essential Tips for Moving Your Business to Hong Kong
It is true that moving a business to Hong Kong can be an intimidating task. You should be aware that though daunting but it is not impossible because people have done it before and businesses are running in Hong Kong. By the end of this topic, you will be in a position to discover more tips on how you can quickly move your business to Hong Kong.
You should start by studying up on Hong Kong business etiquette. Meaning that before you move your business to Hong Kong, it will be vital that you brush up on the business etiquette of the city. One thing that you should be aware of is that gift giving is an essential practice in the city, and it is an excellent way of cultivating good relations with the customers. Apart from that, they are also used to parties and this is one thing that you will have to do to build business ties.
Besides, you will also have to plan your finances accordingly. One thing that you should be aware that Hong Kong is ranked as one of the most expensive cities in the world. When you look at it concerning the cost of living it is falling within top ten. Meaning that you will have to budget appropriately or you will run the risk of quickly running out of money for your business. Therefore, before you make a move, you should study up on the differences in pricing in Hong Kong and ensure that you allocate funds for things such as rent, public transportation, and food. Another thing that you should be aware of is that houses are expensive in Hong Kong and you should decide whether you will rent one or live in quarters.
Apart from that, you should be prepared for language differences. One thing that you should know is ta the first language is Cantonese, but English is always widely used for business purposes. In this case, it will be essential to learn Cantonese for the purposes of creating connections and building your network. One thing that you should know is that more companies would like their employees to have a working knowledge of Cantonese.
Networking is another tip of moving a business to Hong Kong. It is essential to note that Hong Kong is full of start-ups and entrepreneurs of which you should utilize them to the network. This will require you to attend weekly meet-ups, events and business talks so that you can know people, recruit employees and establish yourself as an upcoming business owner.
Last but not least, you should explore co-working spaces in advance so that you can find enough office spaces and desks at a low price.
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