Some Tips For Building a Small Business in Hong Kong

Startups from Hong Kong occupy a particularly interesting position on the global stage in a location where East meets West in the 9th largest trading entity in the world. With its bustling metropolitan city and population of around 7 million, Hong Kong has served as a haven, as well as an international pit stop, for both large and small businesses. Despite its turbulent political history with China, business in Hong Kong thrives. 

Hong Kong is located at a particularly advantageous geographical position making it an entrepreneur’s wonderland. With both a steady stream of tourists who come to absorb the sights and sounds of the beautiful country, as well as a flourishing local economy, businesses in Hong Kong are able to bring in customers from all walks of life. An eclectic mix of modern and traditional, this Asian city lives and breathes to the march of its own drum. To those looking in from the outside, it can feel intimidating to try and carve out a place for yourself in the perpetually moving landscape that makes up Hong Kong. However, here are a few ideas that you may find helpful if you’re trying to get a foot in the door. 

Pick Up A New Language 

While the saying “When in Rome, do as the Romans do” honestly seems like a no-brainer, it can sometimes be a linguistic challenge, especially in a country like Hong Kong, which is known to be multilingual. Hong Kong has two official languages: Cantonese and English. English is mainly the language used by the government, legal, and professional sectors. However, if you really want to connect with the locals, then it’s best to start learning Cantonese. 

Not only is Cantonese one of the most widely used languages in Hong Kong, it is a vital part of everyday communication. Although English is one of the official languages, it isn’t used much by the locals or on the streets. Therefore, if you want to ask questions, make requests, or even just get around, you’ll mainly be relying on your Cantonese to get by. 

If you feel up to the challenge, you can even consider picking up Mandarin or another language. Many international businesses make a home for themselves in Hong Kong due to its position as an entrepot. Among the many countries that have business dealings with Hong Kong are China, Germany, and France, to name a few. In such a melting pot of cultures, gaining competency in multiple languages is a huge boon. It helps to smooth the path for business transactions, and can help you gain the respect of both locals and business partners.

Burn The Midnight Oil 

Much like many major metropolises, Hong Kong City doesn’t sleep. Hong Kong is known to have a vibrant nightlife. Under the neon lights of the city, you can find clubs and coffeeshops co-existing even in the wee hours of the morning. Some establishments such as convenience stores or food delivery services even run 24-hour services.

Having a business that is open till the wee hours of the morning may actually prove to be beneficial. Late at night, there’s typically less competition compared to the incessant hustle and bustle of the daytime. This makes it easier for you to set your business apart and to gain a dedicated clientele. Additionally, since Hong Kong’s clubbing scene attracts both locals and tourists alike, it is possible to gain a fairly wide customer base, depending on the wares that you are selling.  

Furthermore, if you’re able to afford providing a 24-hour service, this can actually help to save costs in the long run. You no longer have to account for the cost of closing and opening up a shop, plus you can pull in more customers, while paying the same amount of rent for the shop space. That being said, providing such a service may actually be challenging for small and medium businesses that may not be able to afford the extra workers and the inevitable increase in the utility bill. 

In such a case, surveying your local area and making note of what deficits there are and during which times can actually lead to running your business more efficiently while bringing in a decent-sized customer base. For example, if you know that the bars in your area don’t serve much food, you can try to ensure that food is readily available in your shop during the wee hours of the morning when party-goers are about to go home and may be looking for a bite to eat. 

Hong Kong is a vibrant city that lives and breathes a rich history, attracting tourists and invoking pride in the locals. Finding a place to belong in this bustling concrete jungle can feel like a daunting task. However, with enough research, it is possible to integrate yourself into the rich tapestry of this beautiful country.