Key Elements of Doing Business in Hong Kong

Hong Kong

If you are thinking of going into Hong Kong and starting a business, there are many things that you will need to know about doing business here, that you might not have thought about previously! Let’s take a look at some of the key elements of doing business in Hong Kong, in the hopes that it helps you set up your business successfully and smoothly.

Pretty much everybody here speaks English

Ok – so not everyone speaks English here, but if you are coming here for business then the people you’ll be working with speak English. Because everyone will speak English with you there’s not a whole lot of point spending your time here practicing your Cantonese. Sure, you can get a Cantonese tutor or do some study online – but no matter what, don’t expect the locals to be too helpful if you’re trying to speak to them in Cantonese. Firstly they will almost always come back to you in English with their response, and they may also tell you in a polite way that you are wasting your time learning Cantonese and perhaps your efforts would be more focused on learning Mandarin, if anything.

Location is key

Having a prestigious address is certainly noted by prospective business contacts and can be the difference between making or breaking a deal. Perception is important in Hong Kong’s culture and it is important to remember this when making key business decisions. For more information about acquiring a prestigious but affordable address, Click Here.

Getting a house isn’t easy

There are plenty of companies making the whole finding a house process easier, but for the most part getting somewhere to live can be a little bit confusing due to some basic flaws in the Hong Kong real estate industry. Every real estate agent covers a very small area, so if you hire someone to take you to see a neighborhood, you might assume that this estate agent covers the neighborhood next to it. Not so. In order to see the next neighborhood you probably need to get a separate real estate agent to show you. And so on. There’s no multiple listing service like realestate.com so in this sense it’s quite difficult to find somewhere by using a comparison online and you might need to see upwards of 40 places before you choose one. Yikes.

Things are small

It’s true – your house probably won’t have a lot of space in it, compared to the house you might have moved from! There are three IKEAs here, and for an additional fee they can deliver and assemble your furniture for you. The stairs in Hong Kong are also smaller, offices are smaller; just about everything else is smaller. For the most part it’s very simple adjustment, unless you’re two metres tall.

Finding an office can be tough

And expensive. Many businesses are steering away from the cost of setting up a bricks and mortar office and instead are opting for a virtual office or a coworking space. This might be an option worth exploring for your company in the sense that it’s a cost effective option and a great way to ease into the world of Hong Kong business.

Good luck with establishing your business in Hong Kong. It’s a hugely rewarding space to start working in, and something that will surely be a boon for your business.