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Webinar: “Sharing on Starting Business in the Greater Bay Area”

The rapid development of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in recent years attracted more and more Hong Kong people to start their businesses in the region. In this seminar, the entrepreneurs from Hong Kong will share their experiences and challenges in starting and expanding their businesses in the GBA, and views on GBA’s prospects, with a view to assisting people who are interested in starting their businesses in the GBA to understand the entrepreneurial and business environment there. Language: Cantonese Speaker: Ms Gisella Tong, CEO of Round the Clock StudioMr Eric Kuo, Co-founder of R-Guardian Limited

StartmeupHK Festival 2021

The StartmeupHK Festival 2021 is back on the 24-28 May! As one of the world’s largest tech conferences, the StartmeupHK Festival is a powerful platform for international startups, investors, industry leaders, academia and governments to exchange ideas, make connections and define the future. We will inspire you, connect you, and introduce you to investors and business partners from Hong Kong and around the region. Mark your calendars for this not-to-be-missed StartmeupHK Festival 2021 now! Keynote speeches/fireside chats/panel discussions/startup pitches/workshops/curated networking opportunities/business matchingand more…

International Sourcing Show 2021

ONLINE + PHYSICAL FORMATSIntegrating seven HKTDC trade fairs originally scheduled for spring 2021, the HKTDC International Sourcing Show will run from March to July 2021 in both online and physical formats, offering a flexible arrangement for businesses to explore and identify opportunities across various industries. 17/3 – 29/7/2021 ONLINE26/7 – 29/7/2021 HKCEC (PHYSICAL FAIR) MARCH ONThe HKTDC International Sourcing Show | ONLINE is a showcase of products, ideas and information that can readily be transformed into ‘Your Source of Inspirations’ - the central theme of the show. Through the integrated online experience, buyers and suppliers can explore, share and connect in effective ways to ensure sustainable business growth.  

HKTDC Research Webinar “New strategies for tapping into Mainland China’s e-commerce market” (Webinar)

How will mainland China’s commitment to expanding and upgrading its domestic consumer market impact on Hong Kong companies? Following the central government’s announcement of its “dual circulation” strategy – a policy that will see the country focus on internal production, distribution and consumption, while not abandoning export opportunities – this webinar will explore the implications of the move. It will also consider the opportunities likely to emerge, while providing practical advice on cross-border e-commerce and trademark / patent protection within the mainland. Moderator:Ms. Alice TsangAssistant Principal Economist (Greater China), HKTDC Research Speaker: Mr. Poon Cheuk HongEconomist, Greater China Research Team, HKTDC Research Mr. Francis ChowBusiness Development Manager, Tmall Global Dr Alex LauPartner, Hong Kong Intellectual Property Advisory Service Limited Event Conducted Language:Cantonese (No simultaneous interpretation service provided)

Startup Howtos: How to protect your business with Intellectual Property? (I)

Do you know how to protect your startup ideas from copycats with intellectual property (IP)? We will share with you information on IP and trademark in this article, and more on registered designs, patents, copyright and trade secrets in the next article.   Q: What is IP and how do I protect it? A: 'IP' or 'intellectual property' is (a term that describes) a range of rights in different aspects of your business and your products. The most common IP rights are trade secrets (undisclosed commercial information), copyright, registered designs, patents and trademarks.   Q: What is a trademark? A: A trademark is a sign that distinguishes the goods and services of one trader from those of others. Typically a trademark can be words (including personal names), indications, designs, letters, characters, numerals, figurative elements, colours, sounds, smells, the shape of the goods or their packaging or any combination of these. A sign must be capable of being represented graphically in order for it to be registered as a trademark.   Q: Do you Know the Differences among Company Registration, Business Registration and Trademark Registration? A: A company name registration at the Companies Registry or a business name registered with the Business Registration Office is not the same as a trademark registration at the Trade Marks Registry. A business or company name registration is not an indication of trademark rights. Having registered a company name with the Companies Registry or a business name with the Business Registration Office, you are still required to apply for registration of your trademarks with the Trade Marks Registry. Only the registered trademark owner has an exclusive right to use the trademark in relation to the goods and services in the Hong Kong SAR for which the mark is registered.   Watch the video below to learn more about the effective use of registered trademarks in maximising brand values. (Available in Chinese only)   Source: Intellectual Property Department “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.

Startup Howtos: How to protect your business with Intellectual Property? (II)

The article “Startup Howtos: Do entrepreneurs need to pay attention to IP? (I) [insert hyperlink]” has gathered information on IP and trademark for protecting your own business and products. Go ahead to check out more information on registered designs, patents, copyright, trade secrets and unleash your brand value!    Q: What is a registered design? A: The individual designs of a wide range of products, for example computers, telephones, textiles, jewellery and watches, can be protected by registration of their designs. A registered design owner has the right to prevent others from manufacturing, importing, selling or hiring the registered design product. Registered design protection is renewable for a maximum of 25 years.   Q: What are patents? A: Patents protect inventions, that is products, substances, or processes which are new and inventive. Patent owners have the right to prevent others from manufacturing, using, selling, or importing the invention. There are two types of patents in the Hong Kong SAR. Protection under standard patents is renewable for a maximum of 20 years. Protection under short-term patents is renewable for a maximum term of eight years.   Q: What is copyright? A: In general, copyright is the right given to the owner of an original work. This right can subsist in literary works, musical works, dramatic works, artistic works, sound recordings, films, broadcasts, cable programmes and the typographical arrangement of published editions of literary, dramatic or musical works, as well as performers' performances. Copyright works made available on the Internet environment are also protected. It is not necessary to register a copyright in the Hong Kong SAR, in order to get protection under the law of the Hong Kong SAR.    Q: What is Trade Secrets and undisclosed Commercial Information? A: Trade secrets and undisclosed commercial information are confidential information in a commercial setting, such as formulaes, methods, technologies, designs, product specifications, business plans and client lists, that have commercial value.   Watch the two videos below to learn more about how to explore business opportunities through licensing and patent commercialisation. (Videos are available in Chinese only)     Source: Intellectual Property Department “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.

Positive People Engagement in the Virtual Space with Appreciative Inquiry

In this highly participatory online workshop, you will go through the process of engaging your people virtually to create the positive future together. After understanding the basic rationale of a Positive Change approach, you will be able to identify your team members’ unique strengths, as well as aligning priorities to explore measures to achieve more together. You will also gain insights on the applications in real work scenarios through case studies and interactive exercises. -A rational and pragmatical way to engage people and make positive change possible – a brief introduction the four pillars of Positive Change-Transforming problems into opportunities – start working on the positive and productive side at the beginning of any engagement-Positive questioning techniques that stimulate promising and co-creative dialogues to bring out the best in people-Essential steps to reinforce productive behaviors, stay focused on top priorities, and generate measurable results Trainer:Ms Dorothy TSUIPrincipal, Corporation for Positive Change – Asia Ms Dorothy Tsui is a dedicated people and organization development consultant who partners with her clients in formulating solutions that build their organizational and leadership capacity to make positive strategic changes. Language:Cantonese Target audience:Corporate Staff of all levels

Business Advisory Workshop “Planning and Launching Sales in the Greater Bay Area” (Webinar)

Guangdong, Hong Kong and Macao authorities have all taken active measures to implement the Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area, resulting in new collaborative development of the three economies. Hong Kong businesses can capitalise on these measures in tapping opportunities in the Greater Bay Area (GBA) and other parts of the mainland. Notably, many Hong Kong companies are keen about selling to mainland China. They are particularly interested in learning how to launch sales and handle related business matters, as well as find out about the availability of preferential policies. In this workshop, Wing Chu, head of the HKTDC Business Advisory Unit, will share the latest development in the GBA as well as practical tips for Hong Kong companies interested in sales to the GBA/mainland market. He will be joined by the China Business Advisor from the Shanghai Municipal Commission of Commerce (currently seconded to the HKTDC) during the Q&A session to take questions from participants on conducting business in the GBA and other mainland cities. Speaker:Mr. Wing ChuBusiness Advisory Manager, Research Department, HKTDC Mr. Sun JianChina Business Advisor, Shanghai Municipal Commission of Commerce (currently seconded to the HKTDC) (Putonghua), Q&A Session Event Conducted Language:Cantonese (No simultaneous interpretation service provided)

Social Entrepreneur Series – Fostering inclusion by audio description [Community Participation]

Social Entrepreneur – Dawning Leung   “The true meaning of equality and inclusion is not to arrange a dedicated session for the visually impaired, but to make it possible for them to take part in the same activity with their sighted counterparts.” Dr Dawning Leung, the founder of Audio Description Association (Hong Kong) (AuDeAHK), believes that persons with visual impairment should enjoy the equal rights to “watch” movies, to “view” exhibitions as well as to join various cultural and outdoor activities. To study audio description, Dawning left for the United Kingdom to acquire a relevant Doctorate degree. In 2015, she founded AuDeAHK to promote audio description and to train audio describers in the Chinese societies. What is audio description? According to Dawning, it is a school of professional translation technique of transferring visual elements into verbal descriptions. In film audio description, for instance, audio describers will depict the scene settings and the characters’ moves, facial expressions, outfits etc. in between dialogues and sound effects. The visually impaired may hence comprehend the plot by hearing rather than by watching. Audio description benefits not only persons with visual difficulties. Everyone can obtain supplementing information from the translated visual contents. For example, children with special educational needs may understand the emotions of characters through audio description. “I recalled a lady wearing a pair of reading glasses who followed our audio described tour in a museum. Towards the end of the tour, she took off the glasses and said, ‘I’d rather listen to your narratives!’”   Innovative Venture – Film Audio Description Services, Audio Description Services for Outdoor Activities, Audio Description Services for Museums The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation.  The details of the innovative venture are as follows:   Name of Organisation: Audio Description Association (Hong Kong) Limited Service nature: Community Participation Beneficiary group: Persons with disabilities Project type:  Prototype Intermediary Programme: Impact Incubator , Good Seed   What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Food and Transport.  What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.

Startup Howtos: How to develop a business plan?

You may be experienced in writing essays and homework reports, yet how about writing business plans for your own company? You may make reference to the writing tips and templates below for developing a detailed business plan to assist the entire planning process of starting a new business as well as to pitch and apply relevant startup funds.   Content Outline Objectives and Goals Industry Overview Competitors/Market Positioning Description of Products and Services Marketing Strategies, Pricing and Promotion Strategies Financial Planning Contingency Planning Company Structure and Background of the Management Team   Writing Tips Make your business plan user-friendly, easy to read and understand. Use figures, percentage and quantifiable information along with descriptions and interpretations. Tailor your business plan for specific reader. For instance, you should focus on cash flow adequacy for banks and potential return with payback period for investors. Follow a complete structure to present your business in an organised way. Include a general market overview / market analysis to show your understanding of the industry and your business position. Emphasise your business uniqueness, strengths and competitive advantages. Develop realistic but aggressive projections, explain use of fund and expected payback period. Complete all the sections of a business plan first, then put all the highlights in the Executive Summary concisely. Review and edit before presenting it.   Business Plan Template Illustrative Business Plan   Source: SUCCESS   “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.

MarketingPulse – Asia’s premier marketing and branding conference

MarketingPulse is an integrated branding and marketing conference where global marketers, brands, advertising agencies, media, enterprises and innovation professionals can discuss marketing trends, exchange best marketing practices and explore new collaborations in Asia. From defining new marketing strategies to events that connect players and catalyse development, MarketingPulse is not only a conference, but an inspiring rendezvous to explore new frontiers in the markets. The next MarketingPulse will be held online on 30-31 March 2021. Under the theme “Marketing for GOOD”, MarketingPulse ONLINE will lead the discussion on how marketing and creativity can contribute positive energy to all stakeholders, society and the world. The two-day virtual conference will bring you inspirational sharing from brands and agencies, practical marketing know-how through a series of workshops, as well as networking opportunities connecting you with marketers in Hong Kong and around the world. MarketingPulse ONLINE aims to help you prepare for a post-pandemic business recovery and operate in a new marketing world of opportunities. Mark your calendar now and stay tuned!

Hong Kong University Student Innovation and Entrepreneurship Competition Calls for Application

Looking for a greater stage to showcase your innovative ideas? The 7th Hong Kong University Student Innovation and Entrepreneurship Competition is open for application. You may form teams with post-secondary students and graduates from other institution and winners will have the chance to participate in national innovation and entrepreneurship competitions. Organised by Hong Kong New Generation Cultural Association, and co-organised by Hong Kong Science & Technology Parks Corporation with the support from Innovation and Technology Commission, the Competition has set up two individual streams, namely Innovation and Entrepreneurship. Participants are required to submit research thesis, invention or PowerPoint and proposals to present their project ideas on a wide spectrum of topics ranging from science and information technology to education and culture. Current students of Hong Kong’s full-time post-secondary programmes are eligible for the Competition; projects from graduates who graduated in the past 5 years or Cooperative Projects from teachers and students are also eligible for the Entrepreneurship stream. Registration is open from today till 31 March 2021. For further details on the Challenge and registration method, please visit the official website.

Social Entrepreneur Series – A Barrier-Free School that Fosters Employment [Education and Learning]

Social Entrepreneur – Kristen Li Persons with disabilities (PWDs) are facing barriers to learning in general. Learning aids do exist but with the prevalent “one size fits all” philosophy they often cannot cope with specific needs of individuals. Ask the right question; devise the valid solution; solicit the proper support for implementation. This is how Kristen Li and her team put social innovation into practice and won the championship of a social enterprise competition. Kristen saw the market need for custom-designed training and tapped the opportunity. Together with her colleagues, she set up the Barrier-Free School. They used what they had learnt in school and established an IT platform which provides PWDs with three-in-one "training - job matching - career support" service. Through tailor-designed training softwares, PWDs acquire the skills fit for employment with remunerations on par with able persons. The Barrier-Free School is contributing to social inclusion of the disabled in the long run. Innovative Venture – Barrier-Free School The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation.  The details of the innovative venture are as follows: Name of Organisation: Barrier-free Technology and Culture Limited Service nature: Education and learning Beneficiary group: Persons with disabilities Project type: Prototype Intermediary Programme: Good Seed What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Diet and Transport.  What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.

The 7th Hong Kong University Student Innovation and Entrepreneurship Competition

Since 2015, the Hong Kong New Generation Cultural Association have become the sole organizer of the regional competitions of two most prominent and widely recognized national innovation and entrepreneurship competitions for tertiary students, including, (1) the China College Students’ “Internet Plus” Innovation and Entrepreneurship Competition organized by the Ministry of Education; and (2) the “Challenge Cup” National College Students’ Extracurricular Academic Science and Technology Contest organized by the Committee of the Communist Youth League of China.Every year, our Innovation and Entrepreneurship Centre are responsible for selecting the most outstanding projects to represent Hong Kong in the aforementioned national stages, exposing talented Hong Kong students to cutting-edge innovative and entrepreneurship ideas and inspiring them with academic exchange among the brightest students nationwide. Through this eye-opening, first-hand experience, it is hoped that students could further develop their potential, sharpen their presentation and interpersonal skills and become future innovation and entrepreneurship leaders.

Collection of Startup and Business Webinars (Updated Constantly)

The COVID-19 epidemic has devastated the global economy. Yet, opportunities always follow risks. No matter you are planning to start your own online business or turn your startup business digital, the key to success is always seizing the business opportunities. The webinars listed below cover the knowledge and techniques for entrepreneurship and business running.  Enrol now and be prepared for opportunities ahead!   “Sharing on Starting Business in the Greater Bay Area” Date: 04/03/2021 Time: 15:30-16:30 Organiser: Support and Consultation Centre for SMEs of the Trade and Industry Department Brief: In this seminar, the entrepreneurs from Hong Kong will share their experiences and challenges in starting and expanding their businesses in the GBA, and views on GBA’s prospects, with a view to assisting people who are interested in starting their businesses in the GBA to understand the entrepreneurial and business environment there. Fee: Free of Charge >>Details   Career Talk: Amazon Web Services* Date: 06/03/2021 Time: 14:30-16:30 Organiser: FSES Fee: Free of Charge >>Details     Business Advisory Workshop “Planning and Launching Sales in the Greater Bay Area” Date: 08/03/2021 Time: 15:00-16:45 Organiser: Hong Kong Trade Development Council Brief: Wing Chu, head of the HKTDC Business Advisory Unit, will share the latest development in the GBA as well as practical tips for Hong Kong companies interested in sales to the GBA/mainland market. He will be joined by the China Business Advisor from the Shanghai Municipal Commission of Commerce (currently seconded to the HKTDC) during the Q&A session to take questions from participants on conducting business in the GBA and other mainland cities. Fee: Free of Charge >>Details     HKTDC Research Webinar “New strategies for tapping into Mainland China’s e-commerce market” Date: 17/03/2021 Time: 14:30-15:30 Organiser: Hong Kong Trade Development Council Brief: This webinar will explore the implications of the move. It will also consider the opportunities likely to emerge, while providing practical advice on cross-border e-commerce and trademark / patent protection within the mainland. Fee: Free of Charge >>Details   MarketingPulse – Asia’s premier marketing and branding conference Date: 30-31/03/2021 Organiser: Hong Kong Trade Development Council Brief: Under the theme “Marketing for GOOD”, MarketingPulse ONLINE will lead the discussion on how marketing and creativity can contribute positive energy to all stakeholders, society and the world. The two-day virtual conference will bring you inspirational sharing from brands and agencies, practical marketing know-how through a series of workshops, as well as networking opportunities connecting you with marketers in Hong Kong and around the world. Fee: $550 >>Details     #The above webinars will be updated continuously *Only Chinese version is available for the particular webinar

“FinTech Anti-epidemic Scheme for Talent Development” Now Open for Application

What is the FinTech Anti-epidemic Scheme for Talent Development (FAST)? FAST is one of the job creation schemes established under the Hong Kong Special Administrative Region (HKSAR) Government’s Anti-epidemic Fund to support local industries affected by the COVID-19 pandemic. FAST is administered by Hong Kong Cyberport Management Company Limited (HKCMCL), which is wholly owned by the HKSAR Government. The programme provides financial assistance to local companies engaged in the FinTech sector to create new jobs. The Scheme has a quota of 1,000 new roles with a total subsidy of up to HK$120 million. FAST aims to create new job opportunities in the FinTech sector and enrich Hong Kong’s FinTech talent pool in order to enhance the city’s competitive edge and reinforce its position as a leading international financial centre.   How does FAST support FinTech companies? Each successful FinTech applicant company will be provided a subsidy of HK$10,000 per month to create a job position related to the major business of the company. The subsidised period could be up to 12 months between 2 July 2020 and 2 July 2022. Successful applicant companies will be disbursed a payment equivalent to the subsidy for the first three months upon the approval of the application and the submission of the employment contract. Subsequent subsidy payments will be made in advance every three months thereafter.

Win HK$5,000 by joining an entrepreneurship training course!

The Hong Kong Federation of Youth Groups (HKFYG) Social Innovation and Youth Business Unit is going to organise the “Youth Entrepreneurship Training Course”. Not only half of the tuition fee will be refunded to participants with an attendance of 80% or above, but a post-course Business Plan Competition will also be held with prizes up to HK$5,000! The course contents will cover finance, lease management and tax, online marketing strategies and brand building, customer relationship management etc. Entrepreneurs will also be invited to share their startup experiences. At the end of the course, participants may join the Business Plan Competition for a grand prize of HK$5,000.   The second term of the Course will be held from March to April 2021. The deadline of registration is March 10, 2021. The total course fee is HK$1,000. Participants with an attendance of 80% or above may receive HK$500 refund in a month after the completion of the Course along with a course certificate. Please visit the official website for further details on course content and registration method.   Date: March to April 2021 Lessons: A total of 8 Lessons (An extra lesson: Business Plan Competition) Time: 7pm to 10pm Venue: Room B-E, 11/F, Genesis, 33-35 Wong Chuk Hang Road, Hong Kong Target: Aged 18-35, youth interested in entrepreneurship Language: Cantonese

Startup How-tos: Four startup advisory services for free

(Image designed by student of Hong Kong Design Institute)   On the road to entrepreneurship you may come across to different kinds of challenges: which funding scheme is more suitable for me? How to avoid legal traps in business? No worries, the four consultation services below offer professional advice for free to all your queries about entrepreneurship.   Support and Consultation Centre for Small and Medium Enterprises (SUCCESS) -  "Meet-the-Advisors" Business Advisory Service SUCCESS provides business starters with not only information on setting up business in Hong Kong, but also free "Meet-the-Advisors" Business Advisory Service. Entrepreneurs encountering problems relating to the starting and running of a business can consult experts on their opinions.   Youth Employment Start” (Y.E.S.) - Professional Consultation Service Y.E.S. is set up to provide one-stop employment and self-employment support services to young people aged between 15 and 29. To assist business members to tackle their business problems in legal and accounting fields, meetings with qualified lawyers and accountants will be arranged to obtain professional advice.   Hong Kong Productivity Council (HKPC) - SME ReachOut A dedicated service team entitled "SME ReachOut" would support startups through face-to-face meetings to help identify suitable funding schemes, while answering questions relating to applications. The goal is to enhance startup's understanding of the Government's funding schemes, with a view to encouraging better utilisation of the support provided by the Government.   Hong Kong Trade Development Council (HKTDC) SME Support - SME Advisory Service The HKTDC SME Advisory Service provides one-to-one free business advisory service, which covers a wide spectrum of areas such as tax issues, business law, operation of the letter of credit, up-to-date information for new business start-ups, logistics, branding strategy for cultural industry and e-commerce.   Source: SUCCESS, Y.E.S., HKPC, HKTDC “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.

Social Entrepreneur Series – Experiential Journey of Intergenerational Inclusion [Education and Learning]

Social Entrepreneur – Nivey Tsang, Samantha Kong and Herman Chan (From left to right)   These young people know how it feels being old. Raised by his grandparents, Herman developed empathy for elderly people at a young age. In 2012 he teamed up with Samantha and Nivey (both were students at The University of Science and Technology) and started Eldpathy. Eldpathy encourages participation in elderly philanthropy through experience programmes. The idea brought them the Champion of Hong Kong Social Enterprise Challenge and HK$140,000 as seed capital, as well as funding from the SIE Fund for scale up. Eldpathy continues to grow and the concept they promote is getting more popular among schools, NGOs and corporations. It also appeals to retirees who join as volunteers.     Innovative Venture – Eldpathy - Elderly Poverty Simulation Education Programme The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation.  The details of the innovative venture are as follows:   Name of Organisation: Eldpathy Company Limited Service nature: Education and learning Beneficiary group: Elderly Project type: Scale-up Intermediary Programme: Impact Incubator   What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Food and Transport.  What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.

Startup How-Tos: Three steps to estimate startup capital

One of the key factors of starting a business is capital. A detailed budget provides clarity to the capital needed, rate of return and payback period which would benefit your business planning. Let’s follow the steps below to plan your budget!   1st step: list out carefully the items required for entering and operating a business in the target industry, including company registration, rental cost of the store or office, interior renovation, operation facilities, raw materials, staff and liquidity etc.2nd step: estimate the cost and price of the required items. You may refer to the value of relevant consultants and persons with experience, or the relevant Market and Industry Profiles published by Hong Kong Trade Development Council (HKTDC).3rd step: You may utilise the Budget Analysis Worksheet for Starting up Business provided by Support and Consultation Centre for SMEs (SUCCESS) to estimate the initial capital required, the relation between turnover and profitability, payback period, assets and liabilities; and factors that may affect financial position. (e.g. turnover, rent, profit margin, expenditures, inventory and credit period, etc.)   Calculation of return and payback period  Usually the rate of return and payback period will be calculated before investing for a business. Simply speaking, you may calculate with the net profit per month:   If net profit per month = $20,000Total investment = $300,000Rate of return = net profit x 12 / total investment      = $20,000 x 12/300,000      = 80%Payback period = 1/80%      = 1.25 years   Note: The net profit of an enterprise may generally be lower during opening period and reach the expected profit after a period of time. Thus the actual payback period may be longer than the calculation result. There are a wide variety of sources of financing such as personal savings, capitalising and loans. You may look up the funding scheme that suits you best with our Funding Schemes Finder, or check out more information on funding from Innovation and Technology Bureau, Brand Development and Promotion of the Trade and Industry Department, and the Hong Kong Productivity Council.   Source: SUCCESS, GovHK, Youth Employment Start, HKTDC SME Centre, HKPC SME ReachOut “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.

Social Entrepreneur Series – Scents of cultural inclusion [Job Training and Opportunities]

Social Entrepreneur – Max Cheng (left) and Johnny Lo (right)   Max has a lifelong affinity with incense. He had seen his family burning incense in religious rituals since he was a child. In his teenage years, he produced art pieces with incense sticks. He majored in visual arts at university and used incense in his final year project. Inspired by a professor, he went on to launch his own hand-made incense brand. Initially, he focused on making traditional incense sticks but the business was lagging. Prompted by his girlfriend, he started to use cookie-cutters to make incense of different shapes such as leaves and flowers. Sales soon picked up. The success encouraged Max to explore new possibilities. He visited different places in search of new ingredients and more sophisticated skills. By adding different scents and spices to hand-made incense sticks, Max created beautiful yet practical items for daily use. As his career took off, Max wanted to contribute more to society. He partnered with Johnny to set up the social enterprise Lin Heung House. The two founders provide training in incense making and job opportunities of workshop assistants for young and adult women of diverse race. While earning an additional income, the women can also showcase their talent and boost their self-confidence. Yet there are obstacles in recruitment. Some are reluctant to show their faces in public due to religious or family reasons. So Max assigns them to work in different supporting roles. Max believes many women of diverse race in Hong Kong are talented and capable. Some are good at henna painting, others making spiced tea and weaving. Yet, they lack opportunities to shine. Max says he is not offering assistance but collaborating with people of diverse race by drawing on their expertise.   Innovative Venture – Lin Heung House – Connecting the Community with Scent The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation.  The details of the innovative venture are as follows: Name of Organisation: Lin Heung House Service nature: Job training and opportunities Beneficiary group: People of diverse race Project type: Prototype Intermediary Programme: Good Seed What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Food and Transport.  What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.

Startup How-tos: FAQ on Recruitment

Is your startup going to recruit and prepare for launch? Let’s go through the seven common questions below and learn about the points to note when you are hiring and handling personal data.   1. How to ensure that the job seeker is lawfully employable? The law requires an employer to take all practical steps to ensure that the job seeker is lawfully employable. If the job seeker is not holding a Hong Kong permanent identity card, the law requires an employer to inspect the job seeker's valid travel document. 2. Can an employer collect copies of the identity cards of job applicants? Generally speaking, an employer must not collect a copy of the identity card of a job applicant during the recruitment process unless and until the individual has accepted an offer of employment. 3. Under what circumstances  can  job  applicants  be  asked  in  a  recruitment  advertisement  to  submit personal data? An  employer  or  recruitment  agency  who  clearly  indicates  its  identity  may  ask  job  applicants  to  submit  personal  data  in  a  recruitment  advertisement,  provided  that  the  data  is  adequate  but  not  excessive  in  relation  to the purpose of recruitment and is to be used lawfully. 4. Can an employer directly solicit personal data from job applicants if it merely uses its company email address, telephone number or fax number as a means of identifying itself in a recruitment advertisement? No. A company email address, telephone number or fax number by itself is generally not considered to be sufficient identification of the employer. If the employer does not wish to disclose its identity, it may simply provide a telephone number in the advertisement and indicate that the applicants can make further enquiries before submitting any personal data. 5. Should an employer provide, within a recruitment advertisement, a statement regarding the purpose for which the personal data submitted by job applicants will be used? Recruitment advertisements that directly ask job applicants to provide their personal data should include a statement, as an integral part of the advertisement, informing applicants about the purposes for which their personal data are to be used. Here is an example of such statement: "Personal data collected will be used for recruitment purposes only". 6. How long is an employer allowed to keep the personal data of unsuccessful job applicants? Personal data of unsuccessful applicants (for future recruitment purposes) can be retained for a period of up to two years from the date of rejecting the applicants, and must then be destroyed. 7. Must we obtain consent from an employee or ex-employee before giving an employment reference to another employer? Yes, you should obtain the prescribed consent from an employee or ex-employee (preferably in writing) as disclosure of the employee’s records (including performance assessment) to another person would constitute to a change in the purpose of use of the data.   Source:  The Office of the Privacy Commissioner for Personal Data, Hong Kong - Understanding the Code of Practice on Human Resource Management Frequently Asked Questions About Recruitment Advertisements , Immigration Department “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.

“Elevator Pitch Competition 2020” - Virtual Battle for Global Startups

Hong Kong Science and Technology Parks Corporation (HKSTP) held its annual Elevator Pitch Competition 2020 (EPiC) virtually on 6 November for the first time. This year, EPiC attracted 476 entries from 37 countries and cities, who presented their innovative business ideas with a one-minute video pitch to simulate the signature 60-second elevator ride to leading investors and judges. US-based biotechnology startup, Mi Terro, crowned champion and claimed the top prize of US$100,000 at the competition. Mi Terro, also the winner of the Smart City category, is a company that upcycles and reengineers protein food waste into plastic and cotton alternative fibres for the fashion, medical and packaging industries. The three Tech Category Winners, including UK-based AI & Robotics startup Arctoris, Philippines-based fintech startup PearlPay, and Portugal-based health technology startup RUBYnanomed, showcased their potential as innovators in the competition. Startups which participate EPiC have to present their innovative business ideas in a one-minute elevator pitch. The top ten finalists were given another opportunity to face the judges in a three-minute live pitch and two-minute Q&A, before announcing the overall champion, who took away a cash prize of US$100,000 while each of the category winners received a cash prize of US$10,000 and all ten finalists won US$6,000 each. This year the event was expanded to a week-long virtual programme. Please visit https://epic.hkstp.org/ for more details.   List of Winners: Award Company Name Countries and Cities Champion and Tech Category Winner – Smart City Mi Terro United States Tech Category Winner – Artificial Intelligence & Robotics Arctoris United Kingdom Tech Category Winner – FinTech PearlPay Philippines Tech Category Winner – Health Technology RUBYnanomed Portugal Other Top 10 Finalists Augmented Bionics Australia   D-Engraver Hong Kong   FindOurView United States   Pivotal Technologies Limited Hong Kong   PurCity Denmark   Qi Sensor Technologies Limited Hong Kong

Social Entrepreneur Series – Sower of Dreams [Job Training and Opportunities]

Social Entrepreneur – Kit Wong   One may regard Kit Wong as a winner in life - attained outstanding academic achievements, had a nice job and fulfilled his dream of lyric writing. A few years ago, he quit his job and established a social venture "La Violet Education" which introduces a series of dream plans to encourage youngsters to pursue their dreams. "Young people have great potential. What I am doing is like planting the seeds. It may take a long time to bear fruit. But what if I can inspire the next Thomas Edison, or give a helping hand to the next Martin Luther King Jr?" said Kit. Two years ago, through his other social venture "Under Production", Kit published an illustrated storybook written by Mohammad Moavia, a Pakistani student suffering from muscular dystrophy. They have recently helped Moavia publish his third book. But Kit doesn't like the word "help". He said they are mutually beneficial: Moavia got his life improved with the income whereas the scheme becomes sustainable as Moavia's books are their best-sellers. To better nurture the seeds, the planter has decided to move one step forward. Kit is starting five subsidiaries based on the five service scopes of "Under Production", giving young people a chance to run a business while "Under Production" offers technical support. It aims to let young people gain practical experience that will help them achieve more.   Innovative Venture – UP Poverty Youth Engagement The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation.  The details of the innovative venture are as follows: Name of Organisation: Under Production Limited Service nature: Job training and opportunities Beneficiary group: Children and Youth Project type: Start-up Intermediary Programme: Impact Incubator   What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Food and Transport.  What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.

Dare to Change Business Pitch Competition: Win the Prize with a 5-minute Pitch

Ever thought about winning startup funds and supports by simply giving a 5-minute pitch? Organised by The Young Entrepreneurs Development Council, the “Dare To Change Business Pitch Competition” offers students a chance to showcase their business ideas in front of seasoned executives by conducting a five-minute pitch. The competition is sponsored by the Innovation and Technology Commission and co-supported by the Hong Kong Science and Technology Park. All full-time current students and 2020 graduates from Hong Kong tertiary education institutes are eligible to participate in teams. In the preliminary round, each participating team will have 5 minutes to conduct their entire presentation in any form. The presentation will be immediately followed by a 10-minute Q & A session with the judging panel. 10 teams entering the final round will receive one-to-one guidance from business professionals with subsidies as a start-up fund. There will be a total of seven awards with cash prize up to HKD15 000. Some of the winning teams will have an opportunity to execute their business ideas offered by the HKSTPC through the HKSTPC Incubation Programme, and will be recommended to regional contests. Various sorts of Networking Events will be held with the aim to let all the participants have the opportunity to know more about the business realm through potential investors and seasoned professionals. Online registration will close on 8 January 2021 at 3 pm. Please visit the official website for the eligibility and further information.

Social Entrepreneur Series – Silver is the New Black [Job Training and Opportunities]

Social Entrepreneur – Zip Cheung   Zip Cheung, the founder of OHH Dear Communications was a journalist who specialised in featuring elderly lifestyle topics. The more she contacted the silver-hair interviewees, the more she was amazed by their vivid lives and energetic minds. "It is inspiring that ageing can be so graceful!" she exclaimed. "Traditional Chinese are conservative about dressing; some may find wearing lipstick or colourful clothing extravagant." But Zip believes that every elderly has the right to choose and live in his/her own style and that getting well-groomed is a way for the elderly to maintain dignity and mental well-being. To further explore the beauty of ageing, she founded the silver-hair model agency; it is also the pioneer in the Hong Kong market. She started recruiting mature talents through her network, but surprisingly there were quite a number of self-recommending candidates. "Most of them had no experience in modelling at all, yet were eager to seek new challenges," Zip said. Zip is offering the elderly not just training and job opportunities but also a chance to build confidence and to live gracefully. Currently, all of the talents in her agency are aged over 50, the oldest being over 94. And many turn out to be great models!   Innovative Venture – OHH Dear Communications The innovative venture mentioned above is funded by the Social Innovation and Entrepreneurship Development Fund and assisted and supported by the Fund’s intermediaries in project implementation.  The details of the innovative venture are as follows: Name of Organisation: OHH Dear Communications Company Limited Service nature: Job training and opportunities Beneficiary group: Elderly Project type: Scale-up Intermediary Programme: Impact Incubator   What is Social Entrepreneur Series? Stories of how other social entrepreneurs aspired to start their own business might facilitate your social innovation and entrepreneurship exploration. A series of social entrepreneur stories will be featured and categorised into six sub-series: Education and Learning, Job Training and Opportunities, Community Participation, Healthcare, Food and Transport.  What you are going to read are stories of social entrepreneurs taking forward the startup projects that help themselves and others.

Startup How-Tos: FAQ on Labour Legislation for entrepreneurs

You may come across with various legal matters, such as company registration, licensing, and Labour Legislation, during your entrepreneurship journey. To aviod possible labour disputes, we have gathered ten questions and answers regarding labour legislation for entrepreneurs: 1. Q: Are “temporary”, “part-time” and “substituted” employees covered by the Employment Ordinance? A: The Employment Ordinance does not differentiate between “temporary”, “part-time”, “substituted”, “permanent” and “full-time” employees. All employees covered by the Employment Ordinance, irrespective of their designated job titles or working hours, are entitled to statutory rights and protection such as wage payment, restriction on deductions from wages and granting of statutory holidays, etc. An employee who has been employed continuously by the same employer for four weeks or more, with at least 18 hours worked in each week is further entitled to rights such as rest days, annual leave with pay and sickness allowance, etc. (Click here to see the leaflet on “part-time employment”.) 2. Q: Which kind of employment contract, written or verbal, provides employers and employees with better protection? A: Under the Employment Ordinance, a contract of employment can be made orally or in writing. Employees’ rights and benefits are protected under the Ordinance irrespective of whether the employment contract is made verbally or in writing. The use of written employment contract may help employees better understand the terms of their employment, remind both employers and employees of their contractual obligations. Please see the Sample Employment Contract prepared by the Labour Department for your reference. 3. Q: How is minimum wage computed? A: Minimum wage = Total number of hours worked by the employee in the wage period × SMW rate (i.e. $37.5 per hour) 4. Q: What will be the consequences if an employer fails to pay wages on time? A: Wages should be paid not later than 7 days from the end of the wage period. An employer who fails to pay wages to an employee within 7 days after they become due is liable to prosecution and, upon conviction, to a fine of HK$350,000 and to imprisonment for three years. 5. Q: Can an employer compel an employee to work 7 days in a week without granting him any rest days? A: No. An employee employed under a continuous contract is entitled to one rest day in every period of seven days. 6. Q: Should rest days be with pay or without pay? A: This term is to be agreed between an employer and an employee. 7. Q: Under what circumstances is an employee entitled to sickness allowance? A: An employee employed under a continuous contract is entitled to sickness allowance if: the sick leave taken is not less than four consecutive days (unless for any day off taken by a female employee for her pregnancy check-ups, post confinement medical treatment or miscarriage, any such day on which she is absent shall be counted as a sickness day and, subject to the following conditions, be paid sickness allowance); the sick leave is supported by an appropriate medical certificate*; and the employee has accumulated sufficient number of paid sickness days (Please read here for how the paid sickness days be accumulated) 8. Q: Can an employer make payment to an employee in lieu of annual leave? A: An employer should not include in an employment contract a term to forego all or any of his employee's annual leave entitlement, including payment of wages in lieu of any annual leave days. However, the law allows an employee to choose to accept payment in lieu of that part of his leave entitlement which exceeds 10 days. 9. Q: Can an employer require an employee to work on statutory holidays? A: Yes. An employer is required to give his employee at least 48 hours' prior notice for work on a statutory holiday. The employer must then arrange an alternative holiday within 60 days before or after the statutory holiday. 10. Q: Are employers obliged to take out employees' compensation insurance policies for all employees? A: According to section 40 of the Ordinance, no employer shall employ any employee in any employment unless there is in force a policy of insurance to cover his liabilities under the laws (including the common law) for injuries at work in respect of all his employees, irrespective of the length of employment contract or working hours, full-time or part-time employment. An employer who fails to comply with the Ordinance to secure an insurance cover is liable to prosecution and, upon conviction, to a maximum fine of $100,000 and imprisonment for two years.   For further information on Labour Legislation, please refer to Frequently Ask Questions of the Labour Department.   Source: Labour Department “Startup How-tos” is an introductory guidebook written for entrepreneurship newbies, providing startup tips and related public services information.