Starting own business in HK

V

VitC

Registered User
Hi Geobaby Members,

I've been in HK two years now with two young dependents. My husband and I are salaried employees and have a relatively comfortable pay and lifestyle, but both of us (more him than me) don't feel terribly excited by what we do and are thinking of setting up our own business, we are still at the exploratory stage at this moment. Both of us are on work visas to be based here.

Would be interested to here from you all out there:

1. Is it relatively easy to set up and run a business as a foreigner here - we are not permanent HK residents and will lose our right to renew our visas once we quit our jobs?
2. We are both English and Putonghua speakers, and speak some Cantonese, but we are not really "integrated" into HK society. Has anyone who tried to set own businesses face hurdles doing so as expats?
3. If any of you have read any books which you felt inspired you/ guided you to starting your own business, grateful if you could share this with me!

I am a relatively conservative person, and know that with risk of loss of income it will no doubt require us to adjust our lifestyles, and I also worry about providing for my two young children. But I guess there is no two ways about it!!

Thanks alot in advance!
 
1) HK is one of the easiest places to do business whether you are local or foreigner. If risk is a big concern, one person can start the business while the other retains regular income and keeps work visa...

2) Myself and my wife do not speak Cantonese nor Mandarin, we did not face any special hurdles outside of normal ones that any business owner will face.

3) None for me but my wife found this book to be very inspiring:
http://www.timeout.com.hk/books/features/44222/here-come-the-girls.html
 
setting up a business is very easy.... running a business, on the other hand, is not an easy thing to do. it becomes like another child. you often lose yourself and only think about the business. you work more hours as you need to build it up and establish yourself in the community.

people often think that running a business will mean they have more time with the family, they can set their own hours, they can take holidays whenever they like.... this is patently NOT true. at least not in the beginning.

my husband and i are both self-employed. we probably put more hours into work in a week than most bankers. my hubby has had 2 holidays in 8+ years. i have worked every day for over 2 years without drawing any salary.... all to make sure the business is successful.

while being self-employed has a lot of perks (i would not give it up to go back to working for someone else), it is extremely hard work, long hours, often little reward, and a lot of stress.
 
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