Unleash the entrepreneur inside you

Ambitions of success in life, you count on your own effort to make your dreams come true. And if there is a budding entrepreneur inside you and just itching to get out, Hong Kong is the place – and there is no better time than now.

Which business?

Most successful entrepreneurs have made their achievements simply by following their passion. And age is never a barrier. Larry Page and Sergey Brin were still at university when they founded Google. Mark Zuckerberg co-created the concept of Facebook in his Harvard University dorm room.

What entrepreneurs have in common is self-confidence to cope with daunting tasks. The famous local brand G.O.D.'s founder Douglas Young created an eastern lifestyle concept with Hong Kong cultural elements in 1996, as an alternative to the well established western way of home furnishing at that time. The brand has since been known to carry homeware and accessories with a decidedly Hong Kong flair appealing to both locals and foreigners. The strong appetite for new trends of Hong Kong people provides ample opportunities for new businesses ranging from developing new smartphone and tablet PC "apps" to joining the "FroYo" franchise.

Getting Started

Getting ready for an opportunity? Simply be prepared to:

•
Select a company name and structure that best reflects your interests and suits your desired mode of operation.
•
Register the business with the appropriate authorities, e.g. Business Registration, Certificate of Incorporation, Trademark Registration and etc.
•
Prepare funding and financial arrangements. Funds can be sourced from savings, a Government funding scheme or loans from a financial institution. Set up a basic bank account for daily operation. Don't forget managing cash flow is essential for the business.
•
Select a suitable business location for your headquarters or for the right flow of people. Of course, setting up your business over internet is also an alternative.
•
Decide the size of the business and hire staff accordingly. Beware of the regulations on minimum wage, insurance protection and MPF arrangements for employees.
•
Make the right marketing and promotional plans to set your business on the right track.

Ready for the journey towards creating your own profitable, sustainable business? The first step is up to you.

Useful Websites

www.investhk.gov.hk
www.gov.hk/en/business/supportenterprises/localenterprises
www.success.tid.gov.hk/eindex.html
www.youth.gov.hk/en/info_centre/career/100G.htm
www.investmentnetwork.hk/hong-kong-entrepreneurs
www.entrepreneurs.com.hk