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How Flexible Workspace Maximises your Payoff?
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How Flexible Workspace Maximises your Payoff?
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 are 3 affordable ways for you to consider :
> Serviced Office: a fully furnished physical office that allows small team work together with privacy, while the pay-as-you-use office support services like printing are flexible to use, however, its rent is higher because of the private unit;
> Coworking Space: a space / compartment where you can come and go freely, to work, share and enjoy networking with like-minded people. This kind of coworking solution is very popular nowadays for people to gather and brainstorm new ideas - the fee is medium to high, offering daily, weekly and monthly access options;
> 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), payroll as well as meeting room usage and coworking space, where 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. Or book a coworking space with Day Pass / Weekly Pass / Monthly Pass for a decent workspace according to their business needs. Not to mention when they are abroad, all their incoming calls will be answered in their company name by the fully-trained multilingual receptionists here, so no more lost business opportunities.
Last but not least, a prestigious corporate address with company directory signage in a proper commercial building can help facilitate your government application or license acquisition, as well as your working visa application!
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.