If you’re keen to look to the future and start growing your business, it could be time to consider an overseas expansion. Hong Kong is currently one of the most popular destinations on the planet for financiers and consultants. It is also ripe with opportunity for smaller companies and startups with flexible working models.
It is a region which presents many challenges. After all, it is very different to western cultures. However, most business owners who have expanded into Hong Kong are pleasantly surprised to find that it’s a very warm and friendly place. Most of the challenges are associated with language barriers and etiquette, but it doesn’t take long to master either of these things.
This guide to expansion in Hong Kong is going to discuss one of the easiest and most affordable ways to achieve it – the virtual office.
What Is a Virtual Office?
Virtual office solutions provide everything that a business needs to run its daily operation; internet, phone lines, a mailbox, telephone answering services, IT support, and more. The difference between virtual and conventional workspaces is that the former is shared.
You don’t pay for a lease. These facilities are operated on a ‘pay as you go’ basis and, as a member, you can visit at any time. Visit www.servcorp.com.hk/en/virtualoffices/ to find out more about the serviced locations available in Hong Kong.
Now, let’s take a look at some of the key benefits of choosing serviced solutions.
Prime Location
Virtual facilities give smaller businesses the opportunity to claim prestigious corporate addresses at very competitive prices. In fact, you’ll be shocked at how affordable some of the finest locations in town can be. They’re so cheap because you’re not paying to rent outright.
PA Support
Most virtual offices provide access to ‘pay as you go’ assistants. You can hire somebody to answer your customer telephone line, pick up and sort out your mail, respond to emails, or anything else which you might need. The best part is that you pay for the exact duration of their services and not a minute longer.
Reduced Overheads
Setting up a business in any part of the world is a costly process. It starts with the big things (like rental costs, furniture, and décor) and stretches all the way down to the little ones (like tea and coffee costs and cleaning fees). With a virtual office, none of this is your responsibility. You can use and have unrestricted access to it, but you don’t have to take care of any of it.
Flexible Terms
One of the biggest advantages of going virtual is that you get to keep your independence and freedom. There are no long term contracts, no lock-in fees, and you can upgrade or downsize whenever you like. This is a really valuable asset, particularly when the economy is in an unpredictable phase.
More for the Future
Ultimately, the more money that you save on overheads and set up costs, the more you’ll have to invest in future growth and development. Change is an essential part of success, so you can’t get too comfortable. Once you’ve landed in Hong Kong, it’s time to start thinking about the next big step and you’ll need a reasonable amount of capital to fall back on.
How to Find a Great Virtual Office in Hong Kong
There are a number of virtual facilities in and around the centre of Hong Kong. The best plan, if you are interested in one of them, is to call the provider directly and request a tour. It is a good idea to take a look at co-working spaces before you agree to sign up to anything because you might have specific needs (such as access to boardroom facilities in the morning). Take a tour, ask lots of questions, and get to grips with going virtual.