Resources & Information to Start and Grow your Business

Resources & Information series is dedicated to helping set up a new business in Hong Kong. Here we will feature tools and advice to see your business grow, to help it grow. Read it to get information, learn about tools and services, or simply because you are curious about what is happening out there.

Content Development: The Art of Storytelling

Content Development: The Art of Storytelling

Is it easy to run a business in Hong Kong. Let’s hear what our business partner Michael Lam from Chesford Business Consulting (CBC) Limited says.

 

    1.    Easy to start your business 

 

Are you in a hurry to issue an invoice or debit note? Not to worry. You can start a business by becoming a sole proprietor and receiving a Business Registration Certificate within 30 minutes. Send your bills to your debtors straightaway and get yourself paid the next day.

 

Sole proprietor is not your cup of tea because of its inability of protecting your personal assets and its limitation of expanding your business. Not to worry. You can set up a limited liability company in 5 to 7 working days. Requirement is simple, be both the director and shareholder yourself. All you need is to appoint a local Hong Konger to be the company secretary as well as a local address as registered office.

 

    2.    Easy to maintain your business 

 

It’s never as simple as fulfilling the compliance and statutory requirements of Hong Kong businesses.

 

If you are running your business as a sole proprietor, renew the Business Registration before the expiry date each year. When the Inland Revenue Department mails you a tax return, just complete it with your business result figures and lodge it before the due date.

 

If you are using a limited liability company, send your management accounts to an auditor. He will issue an auditor report to accompany your company tax return for filing. Like sole proprietorships, renew the company’s Business Registration and in addition file a Annual Return with the Companies Registry.

 

    3.    Easy to run your business 

 

What happens if you are always outside Hong Kong. Thanks to the simple regulations in Hong Kong, you can leave all business matters to local professionals as an absentee owner. Let he or she takes care of all the compliance formalities or even to act on your behalf in managing your financials.

 

What if I want to stay in Hong Kong and manage the business myself. The answer is to apply for Entry for Investment as Entrepreneurs which will allow you to stay of up to two years in Hong Kong. This period may vary and you can seek extension prior to it’s expiry date.

 

As long as you have prior experience in the business you are running and it is a sound investment, the Immigration of Hong Kong welcomes you. There is one catch though. It is money. You need to show that you have sufficient funds to support yourself living in Hong Kong for a year if your business fails.

 

    4.    Easy to minimise tax from your business 

 

Politician says : There are two things certain in life - death and taxes. But as a Chartered Accountant I'd like to add a third certainty: reducing taxes.

 

Hong Kong adopts a territorial source principle of taxation. Only profits which have a source in Hong Kong are taxable here. Profits sourced elsewhere are not subject to Hong Kong Profits Tax. 

 

This principle has remained unchanged since Hong Kong was under the British rule. This is great for those business owners who want to pay lower tax. Yes it needs a little bit of planning but it applies to every business.

 

    5.    Easy to end your business

 

Hong Kong is not only easy to start a business but also easy to end your business.

 

The day you decide to leave Hong Kong or end a business, simply file an application to strike the company off from the register of Companies Registry or Business Registration Department. Make sure you clear your tax bills and pay off all your debtors, you will make the exit forever.

 

By summing up the 5 E’s, you will get the final E, easy to maximise your WEALTH

 

 

n this instant age of multiple social media platforms and mobile access to just about everything possible, the biggest challenge is to attract, engage and retain your customers in your virtual space. 

Experts suggest that stating the facts alone activates two parts of the brain. However, narrating a story that your consumer or client can relate to, be a part of, reminisce or apply to his/her life, in fact, activates seven parts of the brain! 

 

“Personal stories and gossip make up 65% of our conversations…”

 

Scientific facts appeal to the rational aspect of an individual while stories appeal to the emotions of an individual that helps him/her to communicate, relate, motivate and gently nudge themselves towards making a good, informed decision. Using simple language and maintaining a low level of complexity is the most effective way of telling a story.

 

Blogs Provide Value to Customers.

Today, consumers are very well-informed and seek information about any product or service before buying them. As a business owner, you can inform your customer by educating them about your product offering or services rendered.

 

For example, if you sell fine jewelry, you can host blogs on your website or social media platform about Jewellery after-care, benefits of energy forces in stones, tips to buy quality jewelry, etc. 

“Instead of focusing on the competition, focus on your customer…”

This value-add in addition to the product offering will not only increase your visibility and keep your business relevant but also help convert your first-time customer into a fan who comes back for information to your website repeatedly.

 

Consistent Quality Content Updates.

 

In digital media, it is not acceptable to simply create a gorgeous website and move on. Having a website equals having a business card. When you exchange business cards with potential clients, you regularly follow up with them to clinch the deal. Similarly, posting relevant, quality content in the form of blogs or articles, updating your customers about upcoming products or events, exhibitions, or announcing regular updates about upcoming sales is a great way to connect with your customers.

“Out of sight, out of mind…”

 

Constantly updating your website with quality content that provides value to your customer in different ways ensures high search engine rankings. Search engine optimization (SEO) is an excellent tool to showcase your products and services to a customer seeking to buy your product or hire your services in the haystack that is the world wide web.

 

Focus on your Core Competence.

As an entrepreneur or business owner, you wear multiple hats and are responsible for everything – be it, marketing, branding, packaging, promotions, online marketing, business development, accounting, even motivating yourself.  You are also the one who is brimming with ideas, interesting ways to market your products and services.

 

The key to running a successful business is to identify, prioritize and focus on your core competence and then delegate other functions like content development or storytelling to the experts! 

 

Delegate. Prioritize. Grow.

 

When your ideas are great, but you are unable to articulate it well; we can do it for you. We, the storytellers will narrate your story for you – your thoughts and ideas, our creative take on words, stories, images, and brands! Our stories are addictive, your customers will keep coming back for more. Contact us now to ask how! 

In this instant age of multiple social media platforms and mobile access to just about everything possible, the biggest challenge is to attract, engage and retain your customers in your virtual space. 

Experts suggest that stating the facts alone activates two parts of the brain. However, narrating a story that your consumer or client can relate to, be a part of, reminisce or apply to his/her life, in fact, activates seven parts of the brain! 

 

“Personal stories and gossip make up 65% of our conversations…”

 

Scientific facts appeal to the rational aspect of an individual while stories appeal to the emotions of an individual that helps him/her to communicate, relate, motivate and gently nudge themselves towards making a good, informed decision. Using simple language and maintaining a low level of complexity is the most effective way of telling a story.

 

Blogs Provide Value to Customers.

Today, consumers are very well-informed and seek information about any product or service before buying them. As a business owner, you can inform your customer by educating them about your product offering or services rendered.

 

For example, if you sell fine jewelry, you can host blogs on your website or social media platform about Jewellery after-care, benefits of energy forces in stones, tips to buy quality jewelry, etc. 

“Instead of focusing on the competition, focus on your customer…”

This value-add in addition to the product offering will not only increase your visibility and keep your business relevant but also help convert your first-time customer into a fan who comes back for information to your website repeatedly.

 

Consistent Quality Content Updates.

 

In digital media, it is not acceptable to simply create a gorgeous website and move on. Having a website equals having a business card. When you exchange business cards with potential clients, you regularly follow up with them to clinch the deal. Similarly, posting relevant, quality content in the form of blogs or articles, updating your customers about upcoming products or events, exhibitions, or announcing regular updates about upcoming sales is a great way to connect with your customers.

“Out of sight, out of mind…”

 

Constantly updating your website with quality content that provides value to your customer in different ways ensures high search engine rankings. Search engine optimization (SEO) is an excellent tool to showcase your products and services to a customer seeking to buy your product or hire your services in the haystack that is the world wide web.

 

Focus on your Core Competence.

As an entrepreneur or business owner, you wear multiple hats and are responsible for everything – be it, marketing, branding, packaging, promotions, online marketing, business development, accounting, even motivating yourself.  You are also the one who is brimming with ideas, interesting ways to market your products and services.

 

The key to running a successful business is to identify, prioritize and focus on your core competence and then delegate other functions like content development or storytelling to the experts! 

 

Delegate. Prioritize. Grow.

 

When your ideas are great, but you are unable to articulate it well; we can do it for you. We, the storytellers will narrate your story for you – your thoughts and ideas, our creative take on words, stories, images, and brands! Our stories are addictive, your customers will keep coming back for more. Contact us now to ask how! 

Did you find it useful? Do you want to learn more? Get in touch with us at grow@shesgotabusiness.com

Powerful tools for beginners to start and grow your business

Bplans

Site: https://www.bplans.com/sample_business_plans.php

What it does: Provides you with a simple, spot the template for a business plan.

Why we love it: You need a business plan and with this one-page template, you have no excuse not to make one! Start with basics, details later.

 

WIX

Site: https://www.wix.com/account/sites
What it does: Hosts custom-made websites with ready templates.

Why we love it: It is user-friendly, modern and simple which means you can learn to update it on your own! Self-dependant.

 

Canva

Site: https://www.canva.com/

What it does: Create simple designs your tribe loves.

Why we love it: Plenty of cheerful and stylish designs to spice up your social media at no cost.

 

Unsplash

Site: https://unsplash.com

What it does: Provides you with free photos.

Why we love it: Efficient system to search through beautiful and modern stock photos.

 

Grammarly

Site: https://www.grammarly.com/

What it does: Corrects grammatical errors and spelling mistakes in your communication. 

Why we love it: Once downloaded to your computer, it works automatically and takes away your worry for typos, misspellings and such. A big No-No!

 

Google analytics

Site: https://analytics.google.com/analytics/

What it does: Allows you to monitor and understand visitor behavior and traffic sources.

Why we love it: What can be measured, can be improved. You can learn which pages and sources perform best for your webpage and identify non-working ones.

 

Mail Chimp

Site: https://mailchimp.com

What it does: Provides an email marketing platform
Why we love it: Helps you stay in touch with existing customers and connect with potential customers. Allows you to EASILY create segmented lists, emails campaigns you can track and organize effectively.

 

SEO SiteCheckup

Site: https://seositecheckup.com/

What it does: Shows you how to improve and monitor your website's search engine rankings. 

Why we love it: Easy to comprehend, offers solutions straight away.

 

Google Ads

Site: http://adwords.google.com/keywordplanner

What it does: Provides you the opportunity to acquire new clients and discover which words/ phrases the world is searching for.

Why we love it: Apart from paid functions, it provides an insight into what your customers are searching for, enables websites to show targeted ads, helps build brand awareness and earn more conversions.

 

Nibbler

Site: http://nibbler.silktide.com

What it does: Tests your website for 10 key areas, including accessibility, SEO, social media, and technology.

Why we love it: Very easy to use, simply input your web page name - you can see what works well, what doesn’t. You can fix it yourself or ask professionals for help, having exact problems identified, on hand.

Did you find it useful? Do you want to learn more? Get in touch with us at grow@shesgotabusiness.com

Do you need to digitally kick start your business? We have a secret list of tools to help you do so! 

Just answer one question and the list is yours for free! 

 

Which online marketing questions are of most interest for you, 1 search engine optimization or 2 advertising on Google, 3 social media marketing, 4 email marketing or 5 I need it all. 

 

Just tell the number!​