What are some of the profitable businesses to start in Hong Kong?
1. Consultancy Services
Hong Kong ranks among the top countries that have branches for consultancy business services. The rise in the number of small business setups in Asia contributes to the success and therefore the demand for consultancy services. The primary function of consultancy services is to provide entrepreneurs with the setup procedures and other services that those setups might need when entering a new market like Hong Kong in this case.
Besides guiding and counseling entrepreneurs by advising them on the best business services that they can start, consultant services can also offer additional services.
Such service might include:
- Renting the right office space
- Registration and incorporation of the company and thus the office.
- The recruitment and marketing process for new ventures.
How to set up a consultancy business in Hong Kong
Like with the case of setting up any other company in Hong Kong, starting a consultancy business requires that you first incorporate the business.
2. Tutoring Online
This is another business opportunity that has been on the rise in Hong Kong. Tutoring is a viable business service, especially during this COVID-19 pandemic period. Most learners and or parents are seeking online tutors who can help their children learn various subjects.
Offering online tutor services require less initial capital but can guarantee a huge return. You will only need to market your services well so that your potential clients can easily find you. This can be a good business idea for those who have mastery in subjects like sciences, math, and literature, among others.
Besides, being an online tutor can be a part-time job that grants one additional time to concentrate on other businesses that they might be having. One of the ways that you can market your services well is by creating a website that will allow your potential clients to easily find you.
Paul Hype Page can help you with the incorporation services to allow your services to seem legitimate and genuine to your potential service buyers.
3. Bookkeeping and Tax Preparation
The other great business idea in Hong Kong is to offer accounting services. Since many business startups are coming up in Asia, they need to keep their books of accounts as well as remit their annual taxes as required by the Inland Revenue Department.
The business has numerous opportunities, but it does not require much in terms of capital and the premises to do the business.
Like with the case of any other business, you will have to incorporate your business for you to have the authenticity to provide your services in Hong Kong. The better part of being an independent bookkeeper is that you can be hired by numerous companies at a go to be keeping their books of accounts or even act as an auditor to their businesses.
Therefore, the practice is likely to increase your chances of spreading your network base or even being a brand and thus making additional income from what you are good at. As has been highlighted previously in this article, you need to incorporate your business services for it to stand out and it will also make you appear more professional in your job.