Your Brand Could Be Worth More Than You Think｜Understanding IP Financing Sandbox
When people talk about business financing, many immediately think about properties, equipment, or a company’s past revenue records. Intellectual property is usually not the first thing that comes to mind.
The Key to Brand Success: 3 Brand Cases on the Importance of IP
When people talk about business, one of the first questions that often comes to mind is, “Will the product sell well?”
Business Registration Fee Increased Again? Check the Waiver Conditions Now!
Starting from 1 April 2026, the Business Registration fee together with the levy will increase to a total of $2,350. For small business owners, this may seem like a fixed cost that must be paid every year. However, if certain conditions are met, you may be eligible to apply for a waiver of the Business Registration fee and levy, which means you may legally avoid paying this amount.
Why Is It So Hard to Open a Company Bank Account? Common Reasons Applications Get Rejected
Many small and medium-sized business owners in Hong Kong believe that opening a limited company bank account is simply a matter of preparing the required documents listed online.
“How to File Taxes with Xero? Find the “Right” Accountant for Professional Use and Maximize Your Efficiency!”
Are you ready to take your accounting to the next level? Xero, the cloud-based accounting software designed for small and medium-sized businesses, is here to transform how you manage your finances! With HSBC’s online banking service, you can seamlessly connect your bank account to Xero for automatic data integration.
🌍 Unlocking Opportunities in the Middle East: A Unique Advantage for Hongkongers! 🚀
In recent years, the Middle East has seen a surge in infrastructure development, bringing forth immense economic potential. While many in Hong Kong have ventured into projects in Vietnam and Cambodia, the mysterious allure of the Middle East remains largely unexplored—until now!
Are You an Investor or a Speculator?
While both investors and speculators aim to make money, their approaches and mindsets are vastly different. Many novice stock traders fall into the trap of thinking they are investing when they are actually speculating, leading to unexpected losses.
🌟 Survival Strategies for the Food Industry: Marketing is a Must! 🌟
In recent years, consumer habits have drastically changed. Every weekend, we see crowds heading north, while local hot spots have lost their buzz. Even once extravagant mainland tourists are opting for a “budget travel” experience in Hong Kong. Many people, having adapted to a more home-centered lifestyle post-pandemic, are still hesitant to dine out, leading to an astonishingly quiet atmosphere on the streets. Retail and dining sectors are particularly suffering, with reports estimating nearly 50 restaurants closing or on the verge of closure in August and September alone, including renowned establishments, chain outlets, and small eateries.
Small and Medium Enterprises: Seeking Opportunities Amidst Challenges – Trump’s Frequent Reforms and the Global Economic Policy Shifts
With the conclusion of the 2024 U.S. presidential election, Donald Trump has officially assumed office as the 47th President of the United States. His assertive leadership style has introduced greater uncertainty into global economic trade and geopolitical dynamics. Within a few short months, the U.S. Postal Service temporarily ceased accepting packages from Hong Kong and mainland China, only to later announce a resumption. Local businesses were left bewildered, oscillating between concern and relief, realizing they could not afford to relax for even a moment.
With the rapid advancement of technology, the development of artificial intelligence (AI) is unstoppable and has sparked various controversies.
Hong Kong’s high property prices have always been well-known, and in 2023, it has topped the list as the “least affordable city for housing” for the 13th consecutive year.
Cross-Border Business Development: Harnessing Unique Advantages for Hong Kongers in Taiwan
In recent years, the number of immigrants and cross-border professionals has surged. What should one consider when running overseas operations? With its vibrant economic activities and cultural similarities, Taiwan has emerged as a promising “money-making paradise” for Hong Kongers. As the saying goes, “Wherever there’s money to be made, you’ll find Hong Kongers.” Let’s explore how Hong Kongers can leverage their unique strengths.
Registration for Precious Metals and Stones Dealer is effective, what prestige jewelry shop and Luxury watches traders should do? – Useful tips
The COVID-19 pandemic caused the tourism industry to come to a halt for a long period of time, plunging the hotel industry into an unprecedented crisis.
How to save more when opening a Company?
Frugality is a virtue and how should one save the most when opening a company?
“Are there any risks in buying a ready-made company with a bank account for doing business?” Impatient people may wonder.
【Hints to Law Firms】 Do not stinge on bank service fees, as small savings can lead to big losses anytime!
When law firms handle property transfer for clients, client will first deposit into the law firm’s Client Account at the bank, before being transferred to the buyer or payee.
Due to the needs, law firms often open accounts at multiple banks to handle the matters.
Since 2015, the implementation of a plastic bag levy has covered all retail points in Hong Kong. This demonstrates that environmental protection and sustainable development are global trends.
When establishing a limited company, it is necessary to draft a set of Articles of Association (AA). The AA includes mandatory provisions and internal regulations set by the directors that the company must comply with. These provisions cover requirements such as the minimum number of directors, their responsibilities and powers, and details on decision-making processes, such as voting or signing.
During the past few years of the pandemic, many small and medium-sized enterprises (SMEs) have been borrowing money in an effort to survive, leading to a peak in borrowing. This was largely driven by the hope for a return to normalcy.
A Habit to Eliminate Financial Management Loopholes in Companies
Occasional cases of theft occurring within offices have been found to be committed by employees themselves, often due to financial difficulties or succumbing to temptation. While it is not necessary to be suspicious of everyone, it is important to maintain a sense of vigilance.
Many people are opening new bank accounts at different banks in order to chase higher interest rates.
Local Entertainment and International Events: Seizing Hong Kong’s Advantages
Entertainment events such as concerts and boxing matches can stimulate surrounding activities, such as increasing employment opportunities and foot traffic for the food and hotel industry.
【Must-Read for Shop Rental】Key Considerations for Location, Foot Traffic, and Facilities to Choose the Perfect Shop!
When it comes to running a business through shop rental, it’s crucial to carefully assess your options. Your budget will indirectly determine the size and scale of the shop. However, the location and area play a vital role in attracting foot traffic. Different industries have different target customer bases, so it’s important to consider your own business needs instead of simply following the crowd.
There is a common belief that it is difficult to open a bank account for business purposes, with many people experiencing lengthy and complicated procedures, and even instances of failed account openings.
Tips for doing business in a Post-Pandemic Era
Businesses face difficulties in coping with the harsh economic winter. The number of citizens and tourists consuming goods and services in Hong Kong has decreased, and the government’s relief measures in response to the pandemic are no longer available. Additionally, tax incentives have been reduced. Surviving in business has always been more challenging than starting one, especially during an economic downturn.
Recently, a restaurant in Kwun Tong’s industrial building was closed down for violating the land lease terms regarding its use. This has raised public concern about the permitted uses of industrial building units.
POS Systems: Essential for the Food and Retail Industry, More Than Just Cash Registers!
A POS system, short for Point of Sale System, is a “retail management system” that combines software and hardware to assist businesses in their operations.
4 Reasons to Establish a “Family Office”: Managing Money Matters While Making Money!
If you are running a business, a family office is relevant to you! Managing money matters is just as important as making money. Here are four reasons why:
Software for Clinics and Medical Centers
As a doctor, diagnosing and performing surgeries may be easy, but managing the clinic’s finances can be overwhelming.
New Normal for the Tourism Industry in 2024: Rethinking and Relaunching!
Since the beginning of 2023, Japan, Thailand, and other countries have relaxed their entry restrictions, leading to a surge in Hong Kong residents traveling abroad due to herd mentality.They flocked to Japan for shopping and indulged in hot springs.
New Regulations for Jewelry Stores: Restrictions on Large Transactions
Starting from April 1, 2023, the Hong Kong Customs will implement the “Registration System for Precious Metal and Gemstone Traders” to strengthen control over money laundering and terrorist financing.
By following the online checklist and preparing the required documents, why is it so challenging to open a company bank account? In fact, even at the moment of company establishment, a decision has already influenced the success rate of opening a bank account.
Are you a “Carrefour” or a “Sam’s Club” in the business world?
In addition to the popular trend of traveling and staycations during the pandemic, there has been a rise in local “Sam’s Club shopping groups” targeting the popular warehouse-style supermarket, Sam’s Club.
Lunar New Year Marketing Strategy – Decoding Consumer Psychology
As we welcome the first post-pandemic Lunar New Year, the local economy is in the process of recovery, and many industries are still struggling to bounce back.
【Companies Registry】Amended Forms and Considerations for Business Transactions
The Companies Registry has announced that starting from 27 December, 2023, they will fully adopt the revised forms, which primarily involve replacing the Company Incorporation Certificate (CI) number with the Business Registration (BR) number.
When the boss leaves, do the other directors have to take responsibility?
After several years of being hit hard by the pandemic and slow economic recovery, many small and medium-sized enterprises are facing financial difficulties. Some have had to close their businesses, while others have taken risks and left with the company’s remaining funds. In the case of a company with two directors, when one partner makes a bold move to leave, the other directors who remain may wonder if they are all responsible for everything.
Key to Renewal of Lawyer’s License: Choose the Right Accountant
Every year, lawyers must submit an Accountant’s Report for license renewal, which is verified by an accountant to ensure that the lawyer’s office has not misused client funds. The rules and regulations of the Law Society are extremely strict, every cents need to record properly without delay. Otherwise you may be caught off guard at any time!
Bookkeeping, Monthly Closing vs. Year-end Closing, is there Really No difference?
Is a company’s bookkeeping only for the purpose of tax reporting? Actually, the accountant’s bookkeeping is a critical oversight of the company’s operations. Thinking that yearly bookkeeping can save a small amount but may result in a big loss at any time!
Debt doesn’t necessarily mean bankruptcy! Here are some rethinking
“Debt payment is a sacred obligation.” But where did the debt come from? Do you have an idea? Let go of the inherent notion that being chased for debt and being unable to repay means applying for bankruptcy. Stop and think, calm down and review the company’s financial records and personal assets. There may be a turning point!
The insurance industry has a low entry barrier and is a popular career choice for those seeking high earning potential and career growth opportunities. By mastering the tips of deal closure, the income potential is limitless, which can lead to considerations of investments, car and property purchases. Regardless of which direction one chooses to develop, it is important to know how to use commission effectively and tax saving.
On the road to business success, you will meet many people. Business partnerships thrive on mutual benefit and mutual interest, and if you are not compatible, it is best to walk part ways. Working with friends can save time on the initial stages of getting to know each other, and trust is higher. However, it is important to balance rationality and emotions. There are three common ways of collaborating, and it is advisable to weigh the pros and cons and consider the risks before making a decision!
Can’t get a mortgage for a haunted house?
Most people avoid haunted houses, but there are also those who fear nothing except not being able to purchase a property within their budget, even if it happens to be a haunted house. While some people have no qualms about buying such a property, the impact it can have on applying for a high percentage mortgage should not be ignored.
The Latest Trend in the Post-Pandemic New Normal: Rise of Experiential Services
Starting from April 2023, the fee for a one-year Business Registration Certificate (BR) will beincreased from the HKD $250 to HKD $2,150. While the cost increased may not deter aspiring entrepreneurs, it indicates that the government expects the economy to return to normal soon and will phase out post-pandemic support for various industries.
In this post-pandemic new normal, which industries hold promise for new entrepreneurs?
Accountants are “problem solvers” – Healthcare Industry Edition (Part 2)
“Every family has its own problems, and every industry has its own difficulties.” Taking the healthcare industry as an example, doctors use their hands to practice medicine and diagnose patients, but they may not be adept at managing their business. A senior accountant can act as a “problem solver”, assessing the situation, identifying potential issues early on, and preparing for the future, which can help avoid taking unnecessary detours.
Accountants: The “problem solvers” of the healthcare industry (Part 1)
Running a business presents daily challenges, and every decision requires observation, analysis, and multiple considerations. Accountants, also known as “problem solvers,” handle audits, tax reporting, financial evaluations, and restructuring, and provide suggestions for a company’s development. Experienced accountants can often anticipate a company’s future development, identify potential problems early, and provide solutions. They are not “prophets,” but rather rely on observation, experience, and accurate judgment to address problems early.
For Novice entrepreneurs, “innovation” is the key to success when starting your own business!
As generations change and the recent impact of the pandemic, the consumption habits of locals have changed. The phenomenon of “revenge spending” has made many luxury goods no longer luxurious. With the changing habits of customers, businesses must adapt to stay competitive. How can you make a name for yourself in the world of entrepreneurship?
For Novice entrepreneurs, “innovation” is the key to success when starting your own business!
As generations change and the recent impact of the pandemic, the consumption habits of locals have changed. The phenomenon of “revenge spending” has made many luxury goods no longer luxurious. With the changing habits of customers, businesses must adapt to stay competitive. How can you make a name for yourself in the world of entrepreneurship?
Is it easy to open a Company bank account with a virtual bank?
“Easy to set up a company, but difficult to open a bank account” is the dilemma faced by many entrepreneurs, who find the process of submitting documents and waiting for approval at traditional banks to be time-consuming and stressful.
“Problem-solvers” – Accountant: Expanding in the Beauty Industry
In recent years, the beauty industry has been rapidly expanding, covering a wide range of services from skincare, medical aesthetics, hair removal, nail care to fat-dissolving treatments. With fierce competition in the industry, it’s not just about keeping existing customers, but also attracting new ones. Simply relying on gimmicks to “expand the pie” won’t suffice, and success requires a multifaceted approach.
“Troubleshooter” Accountant, – Beauty Industry【Business start up】
Women have a natural inclination towards beauty, and they are willing to spend money on skincare and maintenance. Now, the pandemic is over, the “Mask-off” day has come. The demand for beauty and skincare has increased significantly. If you are interested in becoming a part of it, what should you consider before starting your own business?
Borrowing money for down payment, is it worth it?
It is not uncommon to find it difficult to own a property in Hong Kong. Many working-class individuals work overtime and learn about investments just to “get on the property ladder.” Starting something new is always difficult, so why not borrow money for the down payment and get through the first hurdle? However, before taking action, it is important to consider whether this move is worth it or foolish.
What should Hong Kong SMEs pay attention to when starting a business in Qianhai?
Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Qianhai, located on the western coast of Shenzhen, Guangdong Province, provides more development opportunities for businesses in Hong Kong. Qianhai is geographically well-connected, open-minded, and full of business opportunities.
【Doing Business in the Greater Bay Area】How to successfully open a Bank Account in China?!
With the full clearance for travel between Mainland China and Hong Kong, the flow of people between the two regions has only increased. In Mainland China, going cashless has become the norm and many Hong Kong residents have opened bank accounts in Mainland China to make travel and spending more convenient.
【Tax Loan】Tax loan for starting a business or an investment?
Tax return, so called “green bomb”, is a nightmare for many people. It is never an easy or effective way to fill up and file a correct tax return. Base on the tax return you filed before, a Tax bills, so called “white envelope” will be received from September to October which is the ultimate Big Boss! The tax bills put pressure on wage earners who have not saved up the tax payment in advance. In order to solve the pressure, banks provide tax loans to relieve urgent needs. However, some people might use their loans for other purposes besides paying taxes. Nightmares are kept coming. Think twice before you act!
How to overcome all the difficulties in opening a company account?
It is always difficult to start, and many entrepreneurs encounter obstacles when opening a bank account for their companies. The documents are ready, the approving process may take several months. At the end of the waiting period, the chance of failure to open an account are still high. It is so frustrated. However if you clearly understand the principles and requirements of opening a bank account, opening a company account is easier than you think.
When business is a “White Elephant”, should we still keep going?
When there is a downturn in a company, people may choose to make a clean break by liquidating the company. However, the procedures involved and the consequences are also intricate. With the deteriorating turnover, any rookie business owner will be scared to dead! You may think that a business without returns is worthless, but people with lofty ideals, apart from money, will find that years of business has infinite value.
So, is closing the business and leaving the market really the only way out?
Is Liquidation the only way out for Company?
Who is not ambitious at the beginning of a business, but the business field is turbulent, plus various unpredictable external factors, it is not easy to stand firm! If the business cannot continue, or is even heavily indebted, is closing down the company be the only way?
Epidemic prevention measures are repeated, how will the catering industry deploy?
Life is unpredictable like weather, same as the government’s epidemic prevention measures… Tightening or relaxing of social distancing measures made the catering industry hard to adjust. If you don’t want to be caught off guard all the time, turn passive reaction into active reaction, plan ahead can save you a lot when the storm is high. In the middle of every difficulty lies opportunity – Albert Einstein.
SME Survival – Personal Loan VS Business Loan
In the business field where time is racing, to seize every development opportunity, capital, connections and vision are indispensable. As an old said, “Starting a business is not easy, maintaining a business is even more difficult”. Financial is always the common problem faced by many small and medium-sized enterprises. When the business encounters storms and needs capital turnover, what factors should be considered when applying for a “personal loan” or “commercial loan”, and how have two strings to your bow?