What is the minimum paid-up capital to operate in Hong Kong?
The minimum issued/paid-up capital is usually 1 share of HKD 1.00.
What are the disadvantages faced with government grants?
Government grants restrict the flexibility of one’s business plans and growth potential. After accepting a government grant, any profit margin that exceeds the grant criteria will not be eligible for grants.
Are loans better than grants?
It depends on the business model and growth potential of each company. If you are setting up a company with minimal funding and a slower growth rate, government grants would be beneficial. [...]
What is the similarity between loan overdraft and straight loan?
In both options, one only pays interest from the moment he/she draws the credit and a little fee to receive the total amount at once.
How does an online bank system work?
You can manage your bank account and make transactions from your mobile device. The options include transferring fund, depositing checks, and paying bills electronically.
What are the main differences between traditional and online banking?
Online banking has a faster processing time as compared to traditional banking. The interest rates for online banking are higher than traditional banking as well. Also, the fees for managing accounts online are lower than traditional banking.
What is the processing time to get loans for my SME in Hong Kong?
The processing time can be instant or near-instant, as long as your loan application is approved
Should I spend on marketing during a recession?
Yes, when your competitors are cutting down on marketing efforts, the cost will go down. This lets you will be able to get a better return on your spending.
How to reduce manpower costs?
If you opt to reduce salary, start by cutting overtime hours or reducing their rates. Then reduce the working hours. By reducing working hours, you are reducing the salary. To be more [...]
What are the legal age requirements for employees to work in Hong Kong?
Young individuals aged 13 - 17 years can be employed, but there are restrictions on the type of work that children and young persons can perform. To be working in every industry, one [...]