More younger entrepreneurs are starting their own businesses these days. Different from the past, they do have various channels to know what steps they can take to be a smarter entrepreneur, and get things done in the most cost-effective way.

If you’d like to put more resources into developing your business too, it seems some traditional constant expenses like renting a physical office or miscellaneous fees for maintaining that office can be cut down. You may restructure those resources and put them into buying materials, sourcing a service provider sourcing or investing in product development, etc.

In this article, we’ll explore some efficient ways for a start-up to maximise its benefits under effective financial controls when running a business in HK.
 

Count the Cost

As a start-up, it is crucial to minimise business costs and maximise profits. Rental cost is arguably the highest business cost, especially HK property rent is one of the most expensive in the world. As most business activities take place in core business district (CBD), many ambitious companies including those from China favoured being stationed in this prime district. To take advantage of its significance, there is an affordable way for you to consider :

> Virtual Office: a virtual address provided by a professional business centre as your Government’s registered address (e.g. registered as your company’s business address, printed on name card, listed on website, etc.), together with mail handling, call answering and fax forwarding services. This is an excellent choice for start-ups with budget concerns, given that they can enjoy the prestigious address at a minimal cost. There is a high level of flexibility for the start-ups to work whenever and wherever effortlessly - the monthly fee is as low as HK$600 per month in BRIDGES.

In fact, high expenditure of physical office is not quite necessary at the company’s initial stage (especially when the budget control is critical during the start-up period), that’s why the virtual address solution is widely applied in many industries, but of course, picking a good proper address is important, preferably in a grade A building to further elevate your corporate image.

Get the Most Benefits

For start-ups, there are many flexible choices with different value-added services to help grow your business in the market. How to know which service provider is suitable for you? One thing you may take into consideration is their service experience and profundity. Our proficient team provides a full blend of corporate support services along with our business address plans, including phone & mail handling, incorporation packages, company secretarial services, accounting, tax reporting, visa application (work visa / China visa), and payroll, you can get all corporate compliance functions under one umbrella. 

For entrepreneurs who are always on the go, virtual office fits perfectly because they could reserve a well-equipped meeting room for their professional meetups. 

Please feel free to shoot an email to us at info@bridges.hk for any support. Or, subscribe to our virtual office service and start growing your business now.