What are Some of the Things that You Should Know Before You Move Your Business to Hong Kong
It is essential to note that moving a business to Hong Kong is a daunting task. But one thing that you should understand is that it is not possible because several businesses are running in Hong Kong as well. 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.
One of the things that you should do is to study up on Hong Kong business to etiquette. For that matter, it will be necessary that before you move to Hong Kong you brush up on the business in the city. For instance, gift giving is one of the essential parts of the business in the city, and it is an excellent way of building good relationships 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.
Also, you should also 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. 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. 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.
Besides, you should also be prepared for language differences. It is essential to note that most people in Hong Kong speak Cantonese as their first language even though English is used a language of business. Therefore, if you want to create connections and build your networks it will be vital that you learn Cantonese. You find that this is needed since more companies require their workers to have a working knowledge of Cantonese.
Besides, you should also network. You find that Hong Kong is full of many start-ups and entrepreneurs which you can use to 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.
Apart from that, you will also have to explore co-working spaces ahead of time so that you can find office spaces and desks for cheap.