Statistics - Why Opening Your Business in Hong Kong Might Be Good!

Firstly, why Hong Kong?

The place is your entry to the wave of growth that Asia is experiencing. Asia is the most dynamic continent right now, and Hong Kong the place most respected and recognized as a brand name not only in Asia itself, but in western countries too. This is quite an asset and one of the major factors in favour of company registration there.

Statistics speak!

The taxation system of the place is its biggest asset. It's one of a kind and different from other countries. There was nearly HK $300 Billion worth of re-exports in July 2013. In 2012, Hong Kong was ranked the 9th leading world trader by accounting for nearly 2.8% of the total world trade. It comes before nations like Canada, Italy and Belgium!

What's great here?

Last year, Hong Kong was the 10th leading exporter in the world, by accounting for nearly 2.7% of the total world exports! It might be remembered that even the United Kingdon was behind at 11th position, with around 2.6% of world's total exports. What has helped this place achieve such heights? Well, a tax system is a vital ingredient in recognizing which place to register your company in, because taxation has a direct relation to the profits or turnover of the company. Places where the tax procedure is uncomplicated and places that levy less tax are favourably looked on as, and Hong Kong tops the list.

Here are some reasons that make place special!

1. You only have to declare taxes once a year when you open a company here.
2. A simplified tax system exists which only levies profit tax at the rate of16.5% without value added tax or business tax.
3. For transactions outside of Hong Kong, corporate tax rate is 0%. This allows for savings on sales tax and corporate tax at the very least.
4. More expenses can be written off against a Hong Kong corporation. The United States, for example, does not allow you to write off a glass of wine for your client or your commutation expenses as a business expense. However in the Hong Kong there is no such prohibition.
5. The place follows a single-tier taxation system and therefore tax rate on capital gains, on shareholder dividends and on foreign sourced income is 0%.
6. There are no foreign exchange controls here - thus allowing for free circulation of funds, easy exchange and transfer of foreign currency and convenient and quick handling of credit operations.

No doubt, the place is the best place for company registration. Not only is it strategically located but it has one of the cheapest tax systems in the world. So make a wise and informed decision today by registering your company there and see the difference.

Do you want to register your company in Hong Kong? Visit http://www.conpak.com/HongKong-Company-registration.html for more details. You can even visit http://www.conpak.com/

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What Does Hong Kong Offer You For Your Business?

Hong Kong, the gateway to China, is one of the most reputed names in the business community. Known for its quality infrastructure, highly-educated workforce and easy taxation system, this is the place to be if you are looking for company registry. Let's see what makes this place unique...

1. The location of Hong Kong is strategic. You are not only riding on the wave of the growth of Asia but you are also only two hours away from the largest manufacturing base in the world, four hours away from all the region's key markets and five hours away from fifty percent of the world's population. Each month around a 100 new companies register there to start their business.


2. Unlike many other countries, Hong Kong does not have foreign exchange controls. What this means for you is that foreign currency can be exchanged and traded as per your convenience. Funds can be circulated without restrictions and credit operations can be handled easily and quickly.


3. Registration period of a company is extremely low. It takes a day for e-filing incorporation, a couple of days or so for buying a shelf company and just around ten days for registration of a limited liability company. Company registry is an easy process.


4. The city has no sales tax, no withholding tax, and no tax on capital gains, dividends or an individual's estate. Also, international shipping activities are exempt from profits tax, and no profits tax is levied on overseas earnings.


5. The legal system here is well-established and respected. It has a common law system and a comprehensive arbitration law under which the UNCITRAL model law applies to international shipping disputes. Numerous leading maritime law firms are based in Hong Kong. The Companies Registry - The Government of Hong Kong Special Administrative Region keeps track of the number of companies registered there.


6. Hong Kong company registry is easy mainly because it is one of the least corrupt nations in the world. Cronyism, influence-peddling and bribery are not common practices here. This allows you to carry on your business without unnecessary worries; during company registry and later during operation.

There is a good banking system, an easy taxation system and excellent infrastructure and strategic location.

It is the ideal place for company registration. Not only is the process quick and hassle-free, but you also get the benefit of easy running of the company once it's registered - after all, Hong Kong has been awarded the freest trade area globally for the past consecutive ten years by Forbes magazine. By August 2013, for instance, over 9,100 companies have registered there. No doubt forming your own company there might be one of the best decisions you will make!

Do you want to register your company in Hong Kong? Visit http://www.conpak.com/ for more details.

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5 Reasons Why New Entrepreneurs Should Be Flexible

Every business no matter its size operates in a highly competitive business environment. With that kind of scenario, being relevant and staying in business no matter the competition is always a priority for many smart entrepreneurs. If you are extremely rigid and inflexible in your ways of doing things, that can severely limit he ability of your business to compete favorably. You can always stay a step ahead your competitors if you are flexible enough to respond quickly to inevitable changes in the market demands for your product(s). Here are some 5 reasons why new entrepreneurs should be flexible.

01. There are always alternative ways to produce a product. The bottom-line is always to produce a very high quality product at very low costs. A good entrepreneur always goes in search of these cheaper methods to put a good product in the market. Once found, she does not hesitate to make the required changes to switch to these new methods. She needs some flexibility to do so seamlessly.

02. There are always alternative ways to market a product. Finding very effective and efficient ways to get a product to its consumers is always a major preoccupation for many entrepreneurs. The bottom-line is to find ways to push the product in the market at very low costs. Whatever ways available to do so always attract smart entrepreneurs. It requires a lot of flexibility for these entrepreneurs to make the required changes in response to alternative and cheaper ways to market their products.

03. There are always alternative ways to raise funds for a business. In this age and times, it takes a lot of flexibility and at times even some ingenuity to raise funds for a business. Keeping costs very low can at times be the main determining factor when raising funds for a business. Any smart entrepreneur who is flexible enough usually finds ways to explore all available avenues to raise funds for her business at very low costs.

04. There are always alternative ways to deal with customers. The ability to sell its products largely determines how well a small business is doing. Doing so efficiently and effectively requires a lot of flexibility on the part of the entrepreneur. All alternative ways to service customers are usually decided by the cost element of doing so. The more the number of customers the business is able to service at reduced costs, the better for the business.

05. There are always alternative ways to deal with suppliers. Getting uninterrupted flow of supplies to a business is always a priority for many small businesses. The ability to do so at very low costs requires some flexibility on the part of the entrepreneur. That is why it is extremely important for her to always explore every available option and or method to get the desired results.

By keeping costs low and sales up, many small businesses do manage to stay profitable. Anything the entrepreneur does to sustain this balance is always very good for the business. By remaining flexible and open to change, a smart entrepreneur can easily strike this balance. If the business can reach that balance and sustain it, the business is likely to stay profitable for a prolonged period. Remaining relevant and being known by the business you do is always an ideal dream for new entrepreneurs. How flexible you are, is one sure step to that ideal.

Sule Yesufu, a Certified Speaking Professional, has been a Strategic Partner in S D Y Management Consult, a firm of Investment, Small Business and Entrepreneurial Consultants since 1999. He is a Published Author and a Newspaper Columnist. An expert in Small Business and Personal Development, he focuses on communicating his ideas and thoughts mostly through his Training Seminars and popular free blog. He offers useful tips on Self-Improvement, Personal Finance, Entrepreneurship, Current News, Politics and Business in Nigeria, the most populous and vibrant country in Africa. To learn more about Sule and to contact him for consultations and private inquiries, visit his website at http://www.sdymanagers.com

For more business tips, visit: http://www.sdymanagers.com/apps/blog/

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5 Reasons Why New Entrepreneurs Should Be Efficient

Going into business no matter the scale of the business requires a lot of planning and determination. Part of the plans which every entrepreneur should make before starting out involve the use of resources; particularly men and materials. Since these resources are always very scarce, it takes efficient management to use them well for the overall benefit of the business. It takes skills, real business skills to manage scarce resources efficiently. Any entrepreneur who is unable to manage the resources available to her business efficiently very soon finds herself out of business. Here are some 5 reasons why new entrepreneurs should be efficient.

01. When business funds are very limited. Many aspects of a business always compete for the available funds which in many cases are very limited. A good entrepreneur usually does everything to avoid wasting project funds. It takes efficient use of scarce funds to check leakages arising from misapplication of resources.

02. When business systems are not fully developed. Particularly at the outset, it is usual that the business systems are not yet properly developed. These systems usually develop along with the growth of the business in a very gradual process. It takes efficient use of limited systems to keep a business on track and to meet set targets.

03. When product markets are not fully developed. No business stays a business for very long if it is unable to sell its products. At the beginning, because the product is new to the market, it may meet some sales difficulties. The business can progress as planned if the entrepreneur finds a way to sell the product at reduced costs. It takes efficient use of resources to sell a product in a market which is not yet fully developed.

04. When customer base is very small. It takes efficient use of resources to keep costs low and sales high when servicing few customers. Every business no matter how big it may look today was at one time a small business confronted with the general problems all small businesses usually face. Growing your customer base and servicing these customers effectively requires efficient use of time and resources.

05. When employees are very few. Many small businesses are at times confronted with very few hands to run their operations. Not many have the resources to hire more hands particularly when the business is still in its infancy. It takes efficient use of the few hands in place to get the business going as planned.

Every business no matter its size is always confronted with problems of use of resources. Many of these problems usually emanate from the dearth of these resources. Since every entrepreneur is always desirous to stay in business, it takes efficient use of these scarce resources to do so. Many smart entrepreneurs learn early enough to use the resources available to them in a very efficient way. That is what keeps them in profitable business. Remaining relevant and being known by the business you do is always an ideal dream for new entrepreneurs. How efficient you are, is one sure step to that ideal.

Sule Yesufu, a Certified Speaking Professional, has been a Strategic Partner in S D Y Management Consult, a firm of Investment, Small Business and Entrepreneurial Consultants since 1999. He is a Published Author and a Newspaper Columnist. An expert in Small Business and Personal Development, he focuses on communicating his ideas and thoughts mostly through his Training Seminars and popular free blog. He offers useful tips on Self-Improvement, Personal Finance, Entrepreneurship, Current News, Politics and Business in Nigeria, the most populous and vibrant country in Africa. To learn more about Sule and to contact him for consultations and private inquiries, visit his website at http://www.sdymanagers.com

For more business tips, visit: http://www.sdymanagers.com/apps/blog/