Committing to a move overseas is no small decision, whether you’re relocating to find the perfect home or because you want to take your business to the next level. For smaller companies and entrepreneurs, expansion into new territories is a delicate balancing act.
On the one hand, their size makes them agile and able to strip resources right back when stakes and expenses are high.
On the other, they don’t have the security of a big operation to cover missteps. So, things have to be done carefully and with one eye on the future. Nowhere is this truer than Hong Kong; a region where opportunities are everywhere but costs can come as a shock. It is themost expensive place in the world to rent office space, but the good news is that young businesses can still find a way to streamline their spending.
Dealing with Inflated Prices
One way to control the cost of office rentals is to opt for a flexible solution like theServcorp office space for rent in Hong Kong. In fact, serviced solutions are one of the best options, because they give businesses the chance to claim corporate addresses that they usually couldn’t afford. As the leases are short term and come with negotiable packages (you only pay for what you need), it is easier to get more for less.
Selecting the Best Location
Plus, many of the serviced facilities in Hong Kong are located in very special areas. On their paper, their addresses are enough to wow investors, customers, and suppliers. There is more than a little location prejudice at work here, but there’s nothing wrong with using it to your advantage. The main business districts in the region are Wan Chai, Causeway Bay, Sheung Wan, Central, Admiralty, Wan Chai, and Quarry Bay.
Purchasing Enough Growing Room
The largest proportion of serviced offices in Hong Kong contains between 2-5 workstations. If this seems rather small, it’s likely because lots of businesses prefer to ‘test the water’ with their first rental. For foreign investors especially, trial and error are really important. Serviced solutions support this cautious approach because their terms are negotiable. If you don’t want to commit,sign up to a short term lease and then review it.
Getting to Know Hong Kong
If you already live and work in Hong Kong, you might know a little about why it has become such a lure for foreign business owners. For one thing, it is a free trading zone and represents one of the most respected financial districts in the world. There is also substantially less regulation associated with setting up a business here. Witha highly competitive market and a strong currency, it is the perfect place for those wanting to expand into Asia.
Making New Connections
Most serviced offices also contain shared spaces and collaborative areas. These are designed for all of the residents of the building to use and they can be a useful way to make connections. Expanding into a new and unfamiliar culture is always going to be tough, but the faster you start meeting people, the better chance you’ll have of grabbing unique opportunities. You never can tell what spending a coffee break with a neighbour will turn into.
How to Make Sure That Relocation Works For You
Relocating takes a lot of work, no matter whether you’re moving across town or halfway across the world. The key is careful planning and having a robust contingency plan in case things don’t work out as expected. This is one of the reasons why serviced offices are such an asset. They provide all of the security of a traditional workspace, but with a much greater degree of flexibility and independence.
A part of the “serviced facilities umbrella”, coworking has been booming in Hong Kong. With more and more startups launched every day, spaces are in demand causing major growth in office spaces offering a unique selling point to the end user. For example, Urban Serviced Offices offer an open workspace environment to encourage users to collaborate together and encourage activities that support sustainability in their community.