What It Takes to Begin Your Hong Kong Startup Journey
If you think startup strictly applies to up-and-coming technology companies, you might want to stay a little longer and read this article. Contrary to what many people’s understanding of startups, it is actually a young company, founded by one or more entrepreneurs where the goal is to create products or service for the market. These small companies are subsequently taken under the wing of a more prominent organization who acts somewhat as a mentor and “coach” it to become the next big thing. Most people dream to make it big in the world of business with their startup ideas. Learn more what it takes to start your own business in Asia’s World City below.
Being one of the world’s foremost pioneers in business and technology, Hong Kong shows no signs of slowing down. Just last year in 2019, Hong Kong had a six per cent increase in their total number of startups compared to the year before it, amounting up to a whopping 3,360 new thriving companies with 10,688 employees. Make no mistake in thinking that all those numbers are locals; a good quarter from that sum originated outside of Hong Kong, which truly goes to show that no matter where one is from, a good idea and an active mentor company can make all the difference.
Should You Start a Startup?
The short answer is: yes. You should. Day by day, many daily functions are slowly being digitalized, and consequently create a massive demand in areas such as online financial services, e-commerce, design, medicine, security and business operation tools. The ones who successfully find solutions to those conundrums will soon find themselves established as the next big startup. However, the lies a vast difference between a great idea and a great startup.
If you are thinking about ways to begin but not sure where to start, you can try keeping up with StartmeupHK Festival. The StartmeupHK Festival is an annual startup convention hosted by InvestHK which features talks by plenty of world-class industry figures. Due to COVID-19 outbreak this year, the convention was held online; for the most part, was free for the public to join, with the exception of several premium sessions. The StartmeupHK is a great place to begin, considering how the exhibition gives exposure for interested parties on investor matching, jobs fair, the latest development in the technology world, global startup trends and insights. Starting up in Hong Kong is a wise choice as the country is very supportive of both local and foreign entrepreneurs and aims to make Hong Kong an international startup hub, all whilst fostering a healthy entrepreneurial environment.
Lay Your Dreams Into a Blueprint
Just like any other industry, a startup comes with its own set of pros and cons too, with the pros being profit and the cons being losses. Embarking on your very own business can get undeniably overwhelming, which is why you should do your fair share research before diving into it.