Are You Seriously Considering A New Business Setup in Hong Kong To Leverage The China Market?2 min read
As a serial entrepreneurs or having an entrepreneurship mindset, you may want to seriously consider start your next business/startup in Hong Kong by going through company incorporation. Hong Kong possesses the attractiveness for foreigners and/or expats in living and doing business. HK is appealing, and has been offering benefits that are uniquely available when compared with many other cities. Since the year of 1995, Hong Kong has been ranking high up in the index of economic freedom. This makes it an ideal city/town to build and grow a newly setup company through favorable climate for trade, investment and the movement of goods.
A business that is set up in Hong Kong can be very cost-effective simply because the city can benefit from the relatively low production costs in China. When the exchange controls are absent, the entrepreneurs and business owners in Hong Kong can buy raw materials from one of the cheapest markets i.e. China.
Hong Kong has always been a strategic gateway for many foreign and/or international businesses when they have big plans to grow their sales opportunities in the Mainland China market. Many people have mistakenly believed that in the Mainland China the major economy is only within the big four cities i.e. Beijing, Shanghai, Guangzhou, and Shenzhen. But when a business really put the time into doing some simple research, the entrepreneur soon would have found that big cash opportunities are actually within the different developing markets in the third-tier and fourth-tier towns in Mainland China.
In terms of location, Hong Kong is a hub where it is stable, highly-efficient, business-friendly to expand financial and logistic businesses across the APAC regions. The regions are mostly opened to startup business opportunities. Entrepreneurs may start new businesses with shipping agents, freight forwarders, business consultants, online travel agencies, product sourcing agencies, app developers or tech product developers, furniture making or remodeling, eBay seller or Amazon seller, manufacturing, and more. Manufacturing of clothes, bags, small electronics, computers (including tablets), cellphones, toys, etc are not uncommon business opportunities.
To conclude what we have mentioned, Hong Kong is the main gateway to most of the opportunities in Mainland China and is a place for living. Hong Kong has a business-friendly tax system, a world-class infrastructure, a global financial center, and a free economy. HK is one of the top markets in the world for innovation according to the World Intellectual Property Organization. There is no major negative reason for stopping global entrepreneurs from moving their head offices to Hong Kong.