Why everyone is coming to Hong Kong for business?
According to SmartTravelAsia‘s yearly survey, Hong Kong is still the first city in Asia for business, before Singapore, Shanghai or Tokyo. What makes Hong Kong so attractive to entrepreneurs, sales, buyers and startups?
A free economy
Hong Kong prides itself being the world’s freest economy. The city promotes free trade, free market, free flow of capital and a currency linked to the USD for optimal stability. Information flows freely without censorship on content, providing the perfect environment for the development of web-based solutions and platforms.
The Business city also offers a job market with very little regulation that eases recruitment for employers and job searching for employees. To complete the picture, Hong Kong offers a very transparent tax regime that benefits small and large companies, encouraging entrepreneurs to come and setup their business in the city – procedure that happens to be fast, easy and inexpensive.
A great location
Location wise, Hong Kong gets its strength from an incredible position: a the gate to the largest market in the world (China) and less than 4 hours plane away from Asia’s largest cities and business hubs (Singapore, Bangkok, Tokyo, Jakarta, Kuala Lumpur, Manila, etc.).
A the very heart of Asia, Hong Kong remains the largest market place for import/export in Asia as well as the only gate to enter the Chinese market.
The perfect nest for startups to grow
Hong Kong currently (2016) hosts over 2,100 startups, showing a growth of almost 70% year on year. This incredible increase can be explained by the strong will of the city’s government to support and enhance entrepreneurship by offering a perfect environment for young founders.
Hong Kong offers over 21 local funding schemes, 38 co-working spaces and 12 incubators and accelerators. Schemes such as CyberPort, Science Park or Cocoon really helped with the development of the city towards its new goal: becoming the Silicon Valley of the East.
Last but not least, access to seed funding and Angel Investors is relatively easy in Hong Kong and investors are willing to get involved in businesses requiring less than USD500K.
The heart of Hong Kong – business events
With several business events locations, including the giant Convention Center at the very heart of the city and the conveniently placed AsiaWorld Expo by the airport, Hong Kong really caters for businesses offering Asia’s largest trade shows and exhibition scene.
With over 100 events per year, some of them being international references (such as “HKTDC Hong Kong Electronics Fair” or “HKTDC Hong Kong Toys & Games Fair“), over 2 million annual visitors on such fairs and an annual growth of 6.5%, Hong Kong is and will remain the reference for exhibitions in Asia.
Hong Kong makes it easy for entrepreneurs to setup their business , recruit talent, find capital, grow their business without fear of taxes or over-regulation and promote it through international events. You are on the brink of launching your own company? Consider Hong Kong as your new home!
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