It is true that moving a business to Hong Kong can be an intimidating task. But one thing that you should understand is that it is not possible because several businesses are running in Hong Kong as well. Here are some of the points that will help you to learn more about moving your business to Hong Kong.
One of the things that you should do is to study up on Hong Kong business to 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. Besides, you should be aware that dinner parties is also a common practice and this is one thing that you will have to do in case you want to develop business ties.
Besides, you will also have to plan your finances accordingly. It is essential to note Hong Kong is being graded one of the most expensive cities in the world. I can say that it is within the top ten most expensive cities regarding the cost of living. Because of that you will need to budget appropriately and if not you will run out of money within a short while. For that matter, it will be required that before you go to Hong Kong, you study the differences in pricing and make sure that you allocate funds for things like rent, food, and public transportation. Also, you should also know that houses in Hong Kong are expensive and you should decide whether you want to rent or live in quarters.
Apart from that, you should be prepared for language differences. Typically, English is widely used as a language of business, but the people in Hong Kong speak Cantonese as their first language. Therefore, if you want to create connections and build your networks it will be vital that you learn Cantonese. This is essential as most of the companies will require their employees to have a piece of knowledge in Cantonese.
Besides, you should also network. 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.
Not only that but it will also be vital that you explore co-working space beforehand so that you can find offices spaces and cheap desks.