In the 90s, Jeff had established a startup to sell books. In 2019, this startup sells everything and anything he wants. He has an inspirational success story on how he delivered the idea of e-commerce and grew it to such an extent that it had started a trend. He can set this new idea for the newbies and now we all can see the growing future and competition of e-commerce. He laid the foundation by building a successful e-commerce business and now this company has taken all over the world. It has become a worldwide company, catering to all the products in the entire world. But his company's story is fueled by passion as well as failures. It's the passion that motivates you to achieve your goal and work hard for it and the failures that teach a valuable lesson. Jeff Bezos now tells his life experience to the new business leaders so that they gain some tips on how to be successful in their life. Let's discuss below what life lessons Jeff Bezos gives from his experience.
5 life lessons which you can learn from Jeff Bezos:
Leave your comfort zone and get up:
Bezos delivers this lesson by recalling his dark time. He recalls the time when he was working as a vice president at Wall Street Hedge Funds. He was earning good money but this is the time when he realized that he cannot only collect paychecks for this entire life. There has to something else besides that. That was the time when he decided to leave his comfort zone and step into the challenges and risks. He simply questioned himself if he was going to regret in the future of what he did not achieve in life. Well, this was a push and a reality check. He decided to quit his job of corporate slavery and do something of his own. He stepped into the land of challenges and got out of the comfort zone to not to keep any regressions in life. He did not want to look back and regret what he was not able to do.
Always accept criticism about you; face the real you:This is human nature to not want to accept any kind of criticism on us. We have a fear of facing our actual selves. Jeff says that it is the most difficult thing for a business leader to face criticism. It gets intolerable when they get to know the harsh reality. Do not live in deception. Come out from the fake world and fake self, try to look yourself in the mirror. Sit in solitude and assess yourself where you stand wrong in your life. Be flexible enough to change yourself if the criticism is correct. Keep your ego aside and always be ready to learn from your mistakes. Never hide them, always confront them and accept them in front of the world.
Make efforts now to minimize regressions in future:Jeff always explained this through his experience and thoughts. He always said, "I do not want to look back and regret my life on the things which I was unable to do when it was my time." He states he does not want to regret it when he turns 80 years old on things which he missed. That is why he chose to start with Amazon which he always dreamt of doing. Regressions will always make you a failure. It only brings demotivation and emptiness inside.
Always stand firmly on your vision:Always set a higher vision in your life. The higher our goals are set, the more determined we will become to achieve them. Jeff says it's better to have a higher mission and fail rather than accomplishing a small vision. Always stand to it firmly and it will make you stronger to face the challenges. Own your visions to achieve them.
Show passion in what you do:Passion is the key to success. You need to enjoy what you are doing. Always be passionate about your goals, even about spending every hour of your life. Without passion, you are just going with the flow and not living with the moment. You'll find a spark in every tinniest task you perform. Everyone can easily find a passion for their work. It all about interests and how much do you enjoy it.
No one is perfect. We all learn lessons from our mistakes. We realize the best way to achieve something in life after is through failure. We learn that success needs experience. It asks to fail and then get up with a new experience and then again fail and get up. And this is the entire system through which we can also become successful in our life. That is why it is said that no one is learned and skilled by birth. You need to struggle hard to achieve your goals. Life asks for hard work and passion. You need to have that kick in you which motivates you to achieve your goals. It's alright if you fail. We all fail somewhere in our life. You need to be strong and persistent enough to face failure and deal with it with positivity. Those who dare to keep their ego aside and then learn something will always be successful individuals one day.
Check out The Everything Store by Brad Stone if you want to learn more about Jeff's life and the founding of Amazon.
Stress is one of the most significant things that can damper your creative sense. Stress can be caused by many different reasons and it can block or disturb your creativity in equally different ways. Creativity is intensely based on our mental capacity. When we feel stressed out then that affects our mental capacity as well. This eventually affects our creativity. To stay creative, we need to keep ourselves calm and relaxed. It is very important to understand the relationship between stress and creativity.
Sometimes a person feels like he/she has a lot of ideas but it feels very difficult to implement those ideas. You feel like some hurdles or obstacles are stopping you from implanting those ideas. This is due to the stress in your mind. You have an idea, that’s your creativity but you not being able to implement it is the blockage occurring because of stress. People sometimes go blank right after they thought of a good idea. This sudden loss of creativity is also the result of stress.
The time when you get trapped behind the barrier of stress, it occupies your mind and doesn’t let you think wisely. Stress tends to block your mind on a certain thing. You feel like you are stuck. Moreover, it blocks your expression and prevents you from thinking out of the box. We all might have heard that stress is the enemy of creativity and it’s true.
Stress Barriers for Creativity
Stress barriers for creativity are all factors that can cause the blockage of creativity due to stress. These factors can be emotional, mental or even physical problems. If we face any emotional trauma or personal problem we are bound to get stressed out which in turn makes us less creative. It does not mean that the person isn’t creative or that they don’t have any good ideas. It is just that at that moment, they are unable to implement those ideas.
Creativity Needs Freedom
Creativity is all about being unique. You cannot be creative if you are easily pressurized by others. Creativity demands to be free. You need passion and determination to be creative. If your mind becomes a slave of stress and anxiety then you take that freedom away from creativity. This eventually makes you lose all hope in yourself.
It Can Make You Lose All Hope
Carrying on from the last point mentioned above, stress should always be controlled and mitigated. When people feel stress, they start to lose hope in themselves. Stress leads to anxiety and depression. Sometimes the depression can be so intense that the person starts to lose all hope in him. Which means that he becomes unable to make any good decisions?
Fight or flight response
Another very important factor that accelerates the stress factor is the fight and flight response. During such a response we become narrower minded. During stress as our brains are accustomed to focus on one thing at a time that we make us unable to see various ideas. Creativity might come from within but it can take influence from a lot of different areas. If you don’t accept to observe and check out different ideas then you will never be able to control your stress levels and be creative in life.
Stress Hijacks Your Brain
No one likes to be controlled whether it is by other people or by any other thing. Stress is one thing that can easily hijack and control your brain. It can make you do things that you might regret in the future. People need to overstress otherwise it can overtake your entire brain and kill your sense of creativity.
Overcoming Stress Accelerates Creativity
We are sometimes unaware of how deeply our sense of creativity is being affected by stress. Stress blocks our immediate thoughts and can affect the flow of creativity. Another thing that blocks our creative sense is overthinking. Overthinking an idea can be problematic. Higher the stress less will be the rate of productivity. So to produce a good piece of work one should overcome all fears that lead towards stress.
How Can You Stop Stress from Killing Your Creativity
Stress should in no case be taken lightly. It can be the root cause of many other issues, especially mental issues. Hence people need to take stress seriously. Stress can not only kill your creativity, but it can also cause you a lot of other mental and physical problems as well. If you occasionally feel stressed out then it’s time for you to improve your diet and hit the gym. Consuming a healthy and balanced diet helps a lot in relieving stress. The same way morning exercise is also very good for people suffering from high levels of stress.
Stress-free people are more likely to come up with unique and innovative ideas. In addition to that, they are more likely to implement those ideas effectively as well. You can be a very creative person but as long as stress has your brain is hijacked, your creativity is useless. People need to help improve their mental capacity so that they can come up with better and more effective ideas.
Stress affects both the mental and physical capacity of a person. A person can never be creative if his thoughts are blocked by stress and other mental pressure. Daily workout routines and a balanced diet can all result in better health which can eventually lead to more creativity. As you start to reduce your stress levels, your creativity starts to increase and overflow so try to reduce your stress if you want to experience your creativity to its full potential.
It is quite obvious that the world of work is in a tremendous state of flux and this is causing anxiety with people and for a very good reason. There is a rising polarization of labor market changes between:
The role of technology is important in the present and the future of work. Currently, the top technology and business executives are merging in a bid to research how technology can deliver value and advantage in business.
Furthermore, technology innovation is swiftly transforming the pace, scope, and scale of work.
All of these disruptions come in diverse forms ranging from competitors making use of technology at scale down to the industrial IoT (internet of things). The IoT is only getting to get more relevant with the appearance of the 5G network.
Even manufacturing would transform into a state that we have never seen before.
Changes In The Role of Technology
In the past, technology was only used to maintain excellence in operations, however, in this digital age, the plans of integration of businesses and technology are now entwined.
While technology is evolving to aim at hand in hand collaborations, business on the other hand functions to co-create values. Most of the jobs that humans can do, we can have technology doing them.
Some managers have suggested making use of technology because while a human can take breaks from time to time, machines can work daily on a 24/7 basis without rest. Also, there are fewer errors with machines.
There is an increasing demand for swift and effective delivery of capabilities and low friction experiences. As it stands, most technology teams are moving from the local projects and process-targeted operating models down to projects that much more productive and outcome-centric.
Workers are wondering where exactly they stand if technology turns out to be the future of work. Additionally, technology is moving from mere service delivery up to value delivery.
Cloud and automation models taking powerful roots and speeding up IT delivery and transforming how technology teams and business operations work and merge to create value. It is also helping businesses to eliminate some of their operational works and moving the remaining to service and machine providers. This makes the future of work a lot more efficient.
Technology is bringing in more value to businesses and not just the services they are known to deliver.
Not to forget, the cost is technology is reduced daily so although the initial cost of integrating technology is high, eventually, it would become close to nothing.
To Wrap It Up
The future of work would become more technology-centric. This might be terrifying to hear as one could imagine robots replacing human workers. But imagine the next wave of workers. They might be millennials and Gen Z who have been used to technology at work. They have grown up with technology all their lives and are comfortable with the technology adjustment in their workplaces.
As technology and work plans are merging, the technology functions as a co-driver of innovation and a co-creator of revenue to be driven by technologic investments. If one wants to optimize work, one must leverage technological advancement.
The need for new ideas and products has consistently grown over time with the progression of technology. Simultaneously, the lifespan of these new products being launched has also significantly decreased. For the survival of corporate markets, it has become vital that relevant new products be released more rapidly now than ever. This persistent increase in demand and supply, calls for a greater need for innovation and creativity in the process of product development.
Unfortunately, the lack of creativity is a major problem that plagues the business world these days. There are many driving factors behind this deficiency, one of the most common being the practice of risk avoidance by not only young startups but also big companies. The strict and rigid rules of corporations lead to a redundant pattern of production and do not give teams the space for experimentation and incorporating innovation. The senior decision-makers of firms are usually isolated from the feelings and motivations of their customers and their lives, which further kills all attempts at breaching this gap in creativity for product development.
The constantly changing trends, lifestyle practices, technological advances, fashion choices, etc. are a great opportunity to bring about new ideas and products. These frequent transitions are also a great source to get the creative juices flowing and implement imagination in the procedures of product development these days.
THE IMPORTANCE OF PRODUCT DEVELOPMENT
Most companies usually have a product development team in place, since new product development is essential for any company to stay strong in the market nowadays. Staying strong in a competition, however, is just not enough, it is equally important to stay relevant. Times are changing and so are priorities. These fluctuations and transformations constantly demand new concepts and new ideas to birth new products. Products that not only help keep businesses upright but also meet the public requirements and necessities. The process of new product development also helps companies build better relations with their customer base by satisfying their needs.
Some crucial peculiarities need to be considered when it comes to product development and its launch. Ensuring that your company is the first to identify the need for a product and is among the first ones to satisfy that need by bringing its product to the market is one main principle around which revolves around the entire process of new product development.
THE PROCESS OF PRODUCT DEVELOPMENT
Product development is a process that begins with observation. Analyzing the changes in your environment and then identifying the new needs that arise with that change is almost always the first step.
Analysis and identification of a need lead to ideation and ideas are what eventually end up as products. Don Koberg and Jim Bagnall in their book, The Universal Traveller, break down the process of product development in essentially seven basic steps.
These 7 steps can broadly be divided into two categories; from the birth of a new idea until the birth of a new product. Product development is a creative process and there is a need to implement creativity in almost each of these steps. A creative culture encourages companies to spend time on new ideas, new concepts, and new strategies. Creative ideas, concepts, and strategies eventually result in new, more widely accepted and appraised products and services.
UNLOCKING CREATIVITY IN PRODUCT DEVELOPMENT
Ideas are available everywhere, how effectively your team recognizes and filters them to suit your cause, is what defines expertise. Picking up on a concept is just the beginning, how you incorporate creativity in your strategies to not only develop but also market your product is the real challenge. This creativity can be unlocked with motivation and expertise, says Dr. Tina Seelig of Stanford University.
Part of your expertise is reflected in the kind of team you put together to encourage more creativity in your product building process. However, a greater part of it is reflected in how you motivate these individuals and the incentives you provide to extract their maximum potential.
Innovations are usually described as continuous or discontinuous. While continuous innovations are those that are working on the already existing product, a discontinuous or radical innovation is usually what brings about a revolution within a company. This happens when innovation teams combine knowledge with creativity under the supervision of leadership that is focused on fostering creativity.
A leader’s behavior has massive influence over the productivity of its employees and for a product to be inventive; an individual’s capability only goes so far. The techniques that you adopt to stimulate creativity within your organization have a colossal role to play.
Rewarding creativity is as equally important as facilitating it. Many companies might be hampering their creativity by not sufficiently appreciating the efforts their employees go to, to come up with a unique solution. Your creative team should be provided with adequate means to get important insight into your customer’s life and necessities. This knowledge allows them to come up with ideas that better satisfy your market along with confidence in making a distinct suggestion.
LIMITATIONS TO CREATIVITY
There are many practices among companies that limit their creativity and these need to be identified. Companies where the different groups within a product development team are not well synced and coordinated among themselves and with their leaderships frequently face creativity blocks. Communication gaps within the hierarchy of an organization also lead to missing on ideas and worthy suggestions. Almost every idea has some potential and just needs to be molded with experience and expertise to obtain maximum results.
Big corporates are usually doing well with some long-standing products in their market that help them generate most of the revenue for their companies. When companies start relying on these products they stop branching out and taking risks. This habit of shying away from trying out new products to avoid risks is another factor that keeps creativity at short because it discourages the teams from working on new concepts.
We all must have heard about the latest generation of humans that are being termed “Generation Z”. They call themselves the second-best generation as they are fond of sharing all of their issues and experiences with the world. Afterall, they are the most diverse generation in the history of the United States.
However, some of us are lost on what exactly the Gen Z culture entails. So many people believe that they know what Gen Z consists of but we will have to set the stereotypes aside that they are the streaming generation. There have been times where Gen Z freelancers come in and it is hard for us to have a real conversation because the daypasser was too busy streaming during lunch time and it is almost impossible to get them to get off the screen.
Research carried out suggests that most of the Gen Z-ers define themselves as:
Cultural Traits Of Gen Z
Some of the defining cultural traits of generation Z include:
Most times, they address their feelings through music and have a playlist of what we can term “sad songs”. Little wonder “in my feelings” by Drake was a huge hit.
With the research carried out, it was brought to light that so many Gen Z-ers are friends with a person or two online from so many other countries.
They believe that everyone has the strength to break through social media barriers and become great influencers. With the Gen Z-ers, the more relatable an individual is, the more influence and trust he or she can engender.
Searching through the charts, it is noticeable that the sort of podcasts that mix politics and lifestyle is what is ranked on top. Greta is the perfect example of this, she is a Gen Z who was angrier than ever about climate change.
To Wrap It Up
Gen Z-ers are not just all about the technology. They are trying to bring changes in the world that no previous generation has never seen or brought before. They are cutting through music, politics, and even venturing into workplaces to bring about change.
Even if they tend to be obsessed with their streaming services and phone screens, they also value audio as they see it as an escape from a visual simulation.
The year 2018 was taken as a tremendous record-breaking year for the entire video gaming industry where the industry hit $43.4 billion in revenue.
In terms of the number of gamers, 2014 saw over 1.82 billion gamers all over the world. However, 2019 has an estimate of over 2.47 billion gamers which will further increase to about 2.7 billion by the year 2021.
Nonetheless, we will be analyzing some pretty interesting gaming facts that you never knew about.
These include the number of people that play video games, the genre that is being played most, and we will have an idea if gamers are couch potatoes. Relax and enjoy.
Stats And Facts About Video Games
While the gaming industry is the youngest amongst all the prominent entertainment mediums, it has strongly established itself to be rated among the most prominent in the entire world.
The days of gamers being seen as nerds who reside in the basement of their parent's homes are over. As it stands, the gaming industry raked in not even millions but billions of dollars.
This is as a result of the fact that people keep flocking to purchase some of the latest blockbuster games and to get their hands on the latest consoles. Nonetheless, some facts about the industry include:
The research carried out in diverse studies shows that the average gamer is usually in his or her thirties and has been playing video games for over a decade.
An example is BioWare, it would amaze you to know that the creators of dragon age and mass effect were simply medical doctors that just recently graduated.
As for GoldenEye, a game for Nintendo 64, it has a team of nine men and roughly eight of them had never worked on a game in their life.
Some gaming statistics you should know include:
Mobile gaming is the most prominent form of gaming all over the world. It is a growing industry across the globe. Eighty-five percent of games who reside in the Philippines make use of their smartphone devices for gaming.
As it stands, Egypt had the biggest percentage of both computer and laptop gamers with 69%.
Wrapping it up
The world of gaming has changed from what we used to know back in the day. Computer games have evolved from Maple Story to Starcraft to Fortnite, while the graphics in video games are getting more advanced every day while mobile games are getting more addicting on the daily.
by Paula Lee
Before starting a business from scratch, bear in mind that startups have so much on their plate. The to-do lists of the startups you get to see around are heaped with things like:
How To Set Up Communication Strategies In A Startup
There are ways in which these entrepreneurs can take up communication in their newly acquired business. Some of the steps include:
Depending on the type of target audience you have, every one of your communication tips should be tailored according to the audience.
This is because, the way you communicate with your investors, will not be the same way you will communicate with your staff.
This is very important as some entrepreneurs forget about their styles of communication with different groups of people. The way of communicating with different groups should be unique. After all, you wouldn't call your investor, "Baby" would you?
For example, if you are selling adult diapers, and you are utilizing TikTok, you might be wasting your time and energy.
Also, you should try deciding if you will want to pass through the classic media which means anything and everything been written by reporters or the new media which entails online advertising and social media
Although most things are moving rapidly to the new media, the classic media is still relevant to its particular audience.
Crisis communication is for that type of situation.
Major Aspects Of Having A Communication Plan
There are some aspects to having a highly effective communication plan and they include:
To Wrap It Up
Additionally, you should try measuring all of your communication activities as some forms of media are expensive. With this, have in mind that you must know how to make use of communication efficiently as it will go a long way for your startup.
As it stands currently when it comes down to which entertainment industry is cashing out yearly, so many people will scream Hollywood. However, they are extremely wrong. Just because Hollywood is more glamorous, doesn't mean they are cashing out.
According to the ESA (Entertainment Software Association) and the NPD group, their latest figures show that in 2018 alone, the gaming industry gave the movie industry a run for its money.
The video game industry raked in a whopping 43.4 billion dollars in revenue. This is about four times the money that was made by the top one hundred movies of 2018.
The way it works now, you can stop dreaming about being the next Beyonce or starring in the next Marvel movie because the real money is currently locked in the gaming universe. This is great news as so many of us have social anxiety.
For a total of two decades, the gross sales of video games have significantly outweighed the receipts of the prominent box office. They have successfully surpassed the combination of theatre earnings and earnings of home videos altogether.
Every year, the video game industry has earned more revenue than the movie and music industry combined.
Movies Versus Games
If you want to compare the best movie premieres in the entire cinema history with the best game releases, it is evident that Hollywood has more glamour.
However, what is glamour compared to money? On the 27th of April, the premiere alone of Avengers: Infinity war was estimated to have raked in $257,698,183. This made it the best opening box office in movie history.
Closely followed is Star Wars: The Force Awakens which was released on the 18thof December 2015. It raked in $247,966,675.
Meanwhile, in our gaming universe, Grand Theft Auto V which was released on the 17th of September 2013, brought in roughly eleven million unities under twenty-four hours. In simpler terms, it raked in sales of about $817.5 million.
Within three days, the game successfully registered revenue of a billion dollars. It has since been rated as the highest-grossing entertainment product ever.
Grand Theft Auto V is followed closely by Rockstar Games' Red Dead Redemption 2. From its current chart, this game is a much bigger deal than the entire Avengers franchise.
According to charts by Statista, the games produced by Rockstar have made larger debuts than the biggest films we have today which consists of:
While Grand Theft Auto raked in one billion dollars within three days and earned the fastest-selling title ever, Avengers and Star Wars managed to rake in two billion dollars globally.
Besides, they made the fourth and third-biggest movies ever produced as the first and second remains Avatar and Titanic. To put it out there, Grand Theft Auto V has a minimum of seven Guinness World Records.
To Wrap It Up
As they say, numbers do not lie. The gaming industry is not as you thought it was before. The industry is seriously giving both music and movie industries a big run for their money and we are here for it.
Gaming is no longer for nerds alone, everyone is engaging in it via one way or another.
Open communication is key in every team no matter what type of organization you are running. Having bad communication in your team could be more than disastrous.
What is open communication?
Open communication is when everyone on the team has access to information happening at the company.
How does it help with the company culture?
This could establish trust among everyone on the team as there is open access to everyone in the same. It also establishes a sense of belonging and motivation for the team.
Every team should have an open communication flow that entails sharing:
The concept behind open communication is simply to enable the members of your team to freely speak and provide suggestions in areas that the leader may be wrong as a feedback system. However, there are diverse ways to effectively promote open communication.
While the majority of it comes down to nothing else but behavior, it is still shocking to know that some leaders unintentionally act in ways that go against any form of open communication.
Nonetheless, open communication can be encouraged by:
Most leaders have this open-door policy yet, there is a huge difference between people walking inside such an office and having an open door. The fact is that there are little signs that show that you are paying close attention.
Whenever a person in your team has any suggestions, you should try to accept it in areas where it is needed. This creates a feedback system that is needed so we are not operating in a fantasy land that only exists in our fantasies. This is why every team needs a realist.
Although it is crazy to make use of every idea that your team brings forward, showing your team the part of you that is willing to transform your approach based on their ideas is a strong reinforcement of free and open communication.
Also, should someone come up with a suggestion that you know will not work out, do not shut them down but explain politely why it might not work out.
If a person in your team has a great concept and it is fully implemented successfully, you should give them their credit publicly. This will allow them to have more passion for their work and even bring more ground-breaking ideas.
To Wrap It Up
Communication within team members cannot be overemphasized. You can always encourage your team members to be open when you easily accept their feedback. You do not just have to accept it, you should also act on it where necessary.
Originally posted on http://www.wynd.hk/all-you-need-to-know-before-starting-up-in-hong-kong/
Considering one of the best cities for building your own business, the number of registered local companies in Hong Kong has approached 1.4 million in early 2018 while around 43,000 newly registered companies are added to the list during the period of 2016 and 2017. The statistics are stunning, and it has proved the attractiveness of Hong Kong’s business environment. Further to the government resource, nearly 160,000 local companies have been registered in 2017 and the result matches the third position held by Hong Kong in the World Bank’s report on “starting a business” internationally.
Isn’t it exciting to start a new business in Hong Kong? If you have a fantastic idea wanted to start with, don’t wait until the last moment, come to know more about how to start your own business in the most competitive city in the world.
Company Name and Type
Well begun is half done. A good business always starts with a great name which is better to be precise and easy to be familiar with. You should be careful with the duplication issue and you have to check through the Companies Registry’s Cyber Search Centre or the Company Search Mobile Service to ensure the legality of your chosen name. You should also make your consideration according to the guideline from the official.
Besides, depending on your needs and requirements, you need to consider the business entities of your company. In general, there are several types of entities available in Hong Kong, including limited company (public or private), sole proprietorships or partnerships. You may select the most suitable type for your start-up after clear understanding and careful consideration. Our team (WYND Co-working Space) is always ready to help with if there are uncertainties or confusion with the registration process.
Company & Business RegistrationThe application of a company in Hong Kong has been simplified throughout the years. The following required documents can be hand in via, the online E-Registry, “CR e-Filling” mobile application in App Store or Google Play Store, or in-person to the Shroff on the 14th floor of the Queensway Government Offices :
** Details of the business registration fee can be referred to this link for further information.
Further up-to-date information for both registration processes can be found in Company Registration as well as Inland Revenue Department or you may hold a meeting with WYND team, we are eager to help and explain all you are not clear with.
After Successful Registration
With well-prepared planning, the online and mobile application for company and business registration can be completed within around an hour. Once the request is approved, the certificate can be downloaded and printed accordingly from the email received from officials.
With the hard copy application, the process of evaluation will take 3-5 working days. Moreover, the corresponding certificates will be issued or faxed out within 4 working days. If you are WYND‘s member using our address for business registration, our team can help to collect and display the certificate to avoid any delay or legal issues.
Rules and RegulationsConcerning some special business forms sat, specific permits or licenses may be required for your company, more details can be found in import and export operations or other business operations.
For start-up operators, you must be familiar with the taxation system and labor legislation in Hong Kong in order to make sure that your business is legally running with proper management with rules and regulations specified by the Hong Kong SAR Government.
Although setting up a new business in Hong Kong is relatively easy compared with other cities in the world, there are still basic responsibilities and duties needed to be understood and followed, for instance, Intellectual Property, Code of Practice on Employment or MPF system, you can find out more detailed information on GovHK. Moreover, as a start-up founder, you can also easily have the administrative assistant in a co-working space, like WYND to have professional consultation services for any problems with a start-up business.
Hong Kong as the Pearl of the Orient has its own attractiveness for start-up entrepreneurs who wish to become the most outstanding one. After your completion of the registration process, you have now become a newcomer to the Hong Kong market, yet you still have a lot of challenges needed to be faced and solved respectively.
About the Author:
WYND Co-working Space is located in Central district, in Lan Kwai Fong and near SOHO. The vicinity is the most diverse and vibrant neighborhood in the prime core of Hong Kong. It is the stronghold of international corporations and distinguished local businesses. A place where top talents worldwide gather to live their dreams in career and leisure. Wynd is a platform to synergize the talents and opportunities offered by the city for entrepreneurs, innovators, and pioneers alike.