Startup - Start from Zero

Startup - Start from Zero Startup Business is one of the hottest ongoing trends in the present day. Many fresh graduates want to get a hand on running their own businesses but are usually very lost when they come to the point of how to start a real business. There are two major problems commonly faced by young entrepreneurs who are eager to start their own enterprises – lacking capital and market information. Hopefully a few of these pages will help you if you are starting from zero: running their own businesses but are usually "Start from zero", "Capital", "Market information" and "Business tips".

Self-employment Support Services

Self-employment support services Youth Employment Start (Y.E.S.) of the Labour Department provides free self-employment support services to young business starters. The support services include free use of business workstation, business room and design corner of Y.E.S. Young business starters can also make use of the free professional consultation services, or enroll in business foundation courses for building up strong foundation for their newly set-up businesses. There are also experience-sharing sessions by youth entrepreneurs.

Social Entrepreneurship

Social Entrepreneurship According to a survey, quite a number of youth would like to contribute to helping people in need with entrepreneurship. Overseen by the Commission on Poverty, the SIE Fund provides support to visionary organisations and individuals with social innovation ideas that address social issues. The Fund helps incubate new ideas and provides funding for innovative ventures through programmes administered by intermediaries for delivery of social impact, as well as shares inspiring stories of Hong Kong social innovators that give insight to the social entrepreneurs-to-be. Young people who want to contribute helping people in need with entrepreneurship may seek assistance from the Fund through its intermediaries.

Capital for Setting Up a Business

Capital for setting up a business One of the first major problems startup entrepreneurs encounter is the lack of capital. Capital is essential to the workings of a business as it determines the scale the business will run at. The Government and many other organizations have set up funding programs and schemes in the hopes of reducing the financial burden on new startups. These schemes aim at investing in the Small and Medium-Sized Enterprises’ (SMEs) idea and aid in securing its long-term development. Other methods of raising capital include loans from banks and financial institutions.

Business Licenses

Business licensesBusiness Registration is a must before starting any business regardless of its size. It needs to be obtained within one month of the commencement of the business. In addition to Business Registrations, Business licences for certain businesses also need to be obtained.

SI CEO Competition for Tertiary Students - Build Bridges

The SI CEO Competition for Tertiary Students held the final pitching and award presentation ceremony on 22 April. The five finalists presented their business plans and the best three were selected by the judges right on the spot. The three winning teams were awarded a start-up fund of HK$150,000, HK$100,000, and HK$50,000 respectively, with each also winning a social innovation trip to UK or Singapore to visit social innovation projects. The teams will also receive corporation internship offers, CEO guidance and professional advisory services for idea implementation in the coming future.

Intellectual Property Registration

It is essential to have intellectual property rights for all your products as there has been an increasing alarm of infringement of these rights. Keep your products unique by getting your own property rights through – intellectual property registration.

Rental and Price Indices of Hong Kong

Office premise is a necessity for a business to physically start running. In Hong Kong, there are three different types of property for businesses – Offices, Commercial and Industrial. Since Hong Kong is a small city, property prices are often very high. It is very important to examine and evaluate the best options by regularly checking and comparing rental or price indices from property statistics.

Expenditures Related to Leasing Business Premises

It may be your first time to lease a business premise. Rent is not the only issue you have to deal with. Apart from rent, leasing reminders on tenancy agreements and security deposits are also important factors which need to be kept in mind. Other details include whether the contract requires you to pay other expenditures such as government rents and stamp duty.

Human Resources

As time passes, companies and operations need to grow and this can only be possible with good employees. There are various channels and platforms where you can post job postings and find the right employee for the job and the company.

More Start Up Information

Market Stories
Market Stories

Articles

Events
Events

Networking

Courses
Courses

Study Information

Entrepreneurs' sharing
Entrepreneurs' Sharing

Youtube Videos

Labour Legislation & Guidelines

The strict adherence to labour legislation & guidelines of most importance to every employer at all times. Observing these guidelines allows you to thoroughly protect your employees and can also protect yourself by avoiding labour disputes.

Occupational Safety & Health

In addition to labour legislations, employers also need to take care for the occupational safety and health safety of their employees. Without this, employers may risk getting their employees injured and losing working efficiency and workplace harmony.

Equal Opportunities

Apart from other essentials for Startups, it is important not to forget to provide equal opportunities to everyone without prejudices and discriminate them based on their sex, disability and/or family status rather than their skills and aptitude.

Privacy Protection

Also you must be aware of violating the Personal Data (Privacy) Ordinance when managing personal data of any staff. Awareness of privacy protection is growing in our society.

Employer's Tax Osbligations

Starting from employing the first employee, you have to meet the employer's tax obligations. You need to report to the Inland Revenue Department the remuneration paid to your employees, and maintain payroll records and keep these records for at least 7 years.

Marketing

Marketing is a key aspect of business. Without effective marketing, the business would be difficult to reach its target audience and potential customers. Effective marketing plans mostly revolve around target audience and stay responsive to their demands.

Youth Business Hong Kong

Young people are known to be more willing to take on challenges and risks. However, the lack of guidance and experience in running their business often render their efforts futile. Youth Business Hong Kong has got young entrepreneurs covered – it provides financial access for startup entrepreneurs and also invites established business executives and experts to help guide newcomers in the startup industry. The information and advice shared can assist their startup businesses through systematic and periodic courses and seminars.

Microfinance Scheme

External guidance alone may not be sufficient for a good entrepreneur. One can get equipped by studying further and getting an accreditation. The Microfinance Scheme, launched by The Hong Kong Mortgage Corporation Limited, offers subsidies to assist young entrepreneurs in obtaining professional certification. The scheme also serves to develop the skills of these entrepreneurs by providing mentorship and entrepreneurial training.