10 Perfect Business Opportunities in the capitalism country Hong Kong
This article attempts to enlighten wannabe entrepreneurs who have not a single clue as to which business industry to venture into. This article will present several potential profitable businesses for future businessmen to get their hands dirty. Hong Kong has a well-known reputation for being business friendly. Its tax policies are very favorable and competitive. Its labor force is highly skilled and it is becoming a popular business hub for European and American companies. There are many businesses that you are able to launch from ground up and this article zooms in on the 10 hottest opportunities for the daring ones to seize right now.
Top in the starting list is manufacturing. Hong Kong is the production center for any goods but with particular focus in electronics. Electronics are key components for everyday living and home based electronics are good starting points to consider manufacturing such as television sets or home theatre systems complete with speakers and remote controller. There are many companies that perform contract OEM services which you can take advantage by buying in small amounts. Electronics are hot items on E-commerce websites such as Alibaba. Quality goods must be offered in these platforms. Next manufacturing items to consider are clothings, apparel, accessories and bags. Fashion accessories are part of Hong Kong citizens favorite topics and they are very high in demand. Unique brands can be slapped on the labels for materials sourced from OEM services. Besides clothings, toys are also good items for sale where parents will not hesitate to splurge for their kids. Another segment to explore is mobile phone accessories where items can be sold in huge quantities since everybody owns a smartphone nowadays.
Next business venture to explore is being a product sourcing middleman or agent. Many people look towards Hong Kong for cheap merchandise as it is known to have quality items on wholesale prices. They may have difficulty navigating the language barrier and overcoming distance issue. Most rely on Internet for sourcing merchandise but many are wary of scammers lurking on the e-commerce sites. One value adding service you can offer is by starting up a company solely for product sourcing. Ensure that a professional looking website is available on the Internet which has clear business solutions description for your customers. You can then earn fees and commissions by helping to purchase as product delivery is guaranteed. Proceed further on getting clients by using e-commerce sites and engage lead generation enterprises. English would be the main medium of communication and it is important to have a strong command on the language.
The next business idea one can venture into is being a business consultant. Many established foreign companies are looking to set up branch in Hong Kong. You can then provide business advice on the various legal requirements and documentation for launching a company. You will provide full suite of business advice on rental, licensing, registration and sourcing for employees. You can become a key partner in growing their business. Another good idea is to launch a call center. It is one of the businesses that require low start-up capital. Virtual Call agency center is gaining traction for its low cost model and many foreign companies are looking to outsource their customer service function to countries with a cost advantage. All you need are stable internet connection, phone lines, computers and employees able to converse in fluent English. You can consider hiring staffs with other different language skills in order to serve clients from other countries effectively. Freelancing websites are the best source to get SME clients.
Next up is travel agency. You can act as a dedicated travel portal for travellers wanting to tour Hong Kong for leisure of business purpose. There are many facets of travel service that you can arrange ie hotel reservations, tour packages, transport service, arranging for tour guides and many more. Customer will return for your services if their stay is comfortable and well planned. Next on the list is becoming a freight forwarder. You can provide shipping services for customers looking to buy goods in Hong Kong. Shipping service is high on demand especially if the service is reliable and on time.
Next in line is becoming an E-Bay retailer. Many made a good living setting up shop on E-bay. It is low cost and low risk business with potential high returns and you can sell any items you fancy as long as there is a sustainable market. Another business venture require technical programming skills which is to become a mobile app developer. It is the next growth industry with more widespread smartphone adoption. You can outsource the technical bits to freelancers that will turn your idea into reality and start making money off the apps. Next up on the business idea list is becoming a shipping agent. Clearing agents assist companies to go through Hong Kong customs regularly for materials sourced from foreign countries. Last but not least, you can consider dabbling in furniture making or remodeling. Old furnitures can be remade and resell in the open market.