Estimate time to read: 6 min
May 22, 2021
Ideas for starting a business in Hong Kong in 2021
Looking for a great business idea? If you’re thinking about establishing a business in 2021, it’s important to take the new normal into mind. The COVID-19 pandemic has changed so much of how people buy items/products. While opening a retail store or restaurant may have been good ideas before, you might be well advised to revisit those thoughts until you see how the next year is going to turn out. Instead of the more conventional businesses, think of others who would help how people now live their lives.
It can be tough to find out which ones are worth exploring with so many business ideas in 2021. Although jumping on the latest trend can also be dangerous – it can also be very rewarding. You may note that a number of the ideas on this list have lately been increasing in popularity. Others have been successful, making them more competitive but less risky for a long time. All the small business strategies below, though, will help to make you money.
If you have been thinking about what business to start, then this article is for you.
Let’s take a look at the list of ideas that will help you earn in 2021
Table of contents
As an interior designer in Hong Kong, set the ball rolling and enjoy your blissful success in the company. You should examine the expectations of the customer, create proposals and criteria with some imagination and practical expertise, and ensure that tasks are done according to the timeline and budget. As an interior designer, the goal is to improve the view, use, and protection of the interior environment. Again, it involves combining color matching, decoration, fabrics, decor, and three-dimensional relationship elements. In all kinds of houses, such as shopping centers, schools, residences, hotels, gyms, and photo studios, you must learn to work. A realistic strategic plan paired with a workable campaign approach gets you excited as a newcomer to fulfill your goals. So, get your artistic ability out there in interior design and grab this chance, and scale through your profit margins.
In Hong Kong, ambitious beginners and auditors now fancy small business ideas. If you have what it takes in accounting (bookkeeping) and have the credentials to support Hong Kong’s small and medium companies with their income, payrolls, financial forecasts, so this is the best business idea for you. This concept requires a high degree of financial detail and the prowess of accounting principles. It is undebated that, among others, you must possess knowledge of tax laws, jobs laws, pensions, mergers & acquisitions. It might be impractical to operate an office as a novice, so you may plan to start a bookkeeping service based at home. These services are needed by any company, whether small or large. So, if you just do excellent work, you stand to prosper. Ensure that you file and receive the correct permits to run your company. Then go out there and, as a beginner, start selling your services to the prospective buyer.
The website opened up the e-commerce reseller’s market model in Hong Kong. The premise behind e-commerce reselling is that you buy resale goods to make a profit. As an associate marketer, this can apply. You cannot import your goods in this situation, but you procure items from related manufacturers to sell from their shop instead. You ought to launch a platform for e-commerce to start searching for the best balance of supply and demand to have a strong appreciation of prices and expenses.
Again, as a reseller, you can craft your unique location. It is either marketing items that are not widely available or giving professional guidance to prospective customers or offering your niche of varied products. Those sites include Amazon, eBay, and WooCommerce, where you can procure products and be a middleman between suppliers and customers. You will immediately begin selling goods upon launching your reseller business. Do some analysis before settling about which way to go and learn how to deal with e-commerce in Hong Kong. There is no limit to the list of items to resell, only make the bold step!
Mobile Application Development
Hong Kong is, technologically, one of the world’s most advanced cities. Thus, it is easy to see that the development of smartphone apps is one of the latest hot ideas for small business investment that you can adopt. When businesses and companies are aiming to boost service quality, smartphone apps are the order of the day. This is a business venture destined to flourish for a very long time with the growth in demand for these applications.
Hong Kong is just the right spot to announce a new innovative smartphone app, considering the thriving existence of the tech industry. You could do it on your own if you have the expertise to build applications, then use the tech ecosystem and networks in Hong Kong to get it into the market. Alternatively, say you are an individual with an app concept, but you don’t have the expertise to code the app. In Hong Kong, you can always find outstanding freelance programmers. They’re going to help you put that mega-idea into life and make it conquer you.
Social Media Influencer
Social media influencers are now increasing more than expected. When people are looking for ways to impact culture and society, Hong Kong has not been left behind. As an influencer on social media, the job is to break down the firewall of connectivity, slice the media, and start connecting people as never before. You may partner with advertisement companies or advisors or talent discoverers to allow individuals to purchase a specific product or pursue certain therapy services with a specific company. It goes like this, the more you can affect more individuals to raise your tally to earn more.
Even actors or corporate executives are now using social media to easily track their careers to gain that status. By being the link between celebrities and industry leaders to provide the data out there, you can upgrade your efforts. Also, you will have your online community where individuals can contact you if they need the support of any kind. Be a market maker, be a gamechanger by entering into the paradigm of a Hong Kong social media influencer.
There is no shame that the rebellion is in the childcare service in Hong Kong. Often young adults opt for dependent daycare centers where they can leave their young ones for jobs whenever they are out there. And now you can get into this business concept in Hong Kong as a newcomer who prides himself on spending time with the kids and having personal satisfaction. Based on the ages of the children, from babies up to the age of three, and the childcare program has several segments; we have pre-school children, and so on.
Real Estate Brokering
Another brilliant idea you should remember while thinking about small business ventures in Hong Kong is a real estate broker. It’s estimated to produce the world’s greatest number of millionaires, and as a dealer in a hot market like Hong Kong, if you do things right from the outset, you’re guaranteed to make a lot of money.
A real estate broker in Hong Kong has various means of creating a flourishing firm, other than the conventional duties of a realtor to promote the buying and selling of assets.
The need for online education has offered entrepreneurs a large opportunity to launch their ventures. As this is an online business model, regardless of your location, you can select any topic you are qualified about and teach a course. If you do not have specialized knowledge of any specific subject, students overseas can still try teaching English as a foreign language online.
A transcription service is a brilliant business concept that encourages you to work from home with a flexible schedule if you have a decent ear and can type fast. In specific, medical transcription facilities are required as speech recognition technology proliferates for dictation by healthcare providers. You should take as few or more transcription positions as you want if you don’t want to start all at once, or if you have a day job that you want to hold for the time being. Try becoming a professional transcriptionist and delving into a few specialties to improve your market chances and justify charging higher.
Typically, medical transcriptionists charge 6 to 14 cents per transcription line, which may rapidly add up. The average transcription work processing period is 24 hours, so it’s crucial to keep on top of the jobs that you approve of. The ability to allow just a few requests to get started, however, ensures that you can ramp up when you can proceed slowly, making transcription a simple service. Best of all, start-up costs and overhead are very minimal. You simply need a computer, the necessary applications, and a safe service for messaging.
Digital Marketing Services
In particular, Hong Kong has a strong demand for niche expertise in digital ads and is one of the small business investment opportunities worth exploring, with minimal investment criteria. In all facets of digital marketing, you don’t have to be a guru, so you should set up a company engaging with the service with which you are most proficient and which can promise your consumers the highest returns. Among other things, you can choose to deliver social media marketing, search engine optimization, content marketing, and pay per click advertising.
Software as a Service Platform
Indeed, Hong Kong is a global innovation center, with very extensive operations for app development. As a service platform, the software is designed to help software creators, company owners, and businesses minimize their software creation, operating, and maintenance costs. It is normally very expensive to manage and manage development environments in conventional applications and application development, not to mention the threats that such systems generally bear.
With so many SaaS applications, a decent vendor in Hong Kong is everything you need. That will get you ready to start offering developers and businesses a SaaS platform. Be warned, though, that if you don’t have good professional experience in software production, this is not the kind of company you might like to move into.
Call Center Agencies
Setting up a call center agent will be another great small investment concept for Hong Kong. For those looking for value formation small investments in Hong Kong, this is a very cheap sector. There are thousands of businesses contracting their customer service agents in Europe and the United States. In those countries that have real workers employed at call centers in America or Europe, it is inexpensive for them to have a representative.
You can quickly transform it into a service if you want to clean. You may sell cleaning services to families, residential buildings, and industrial premises with a few staff members, a host of cleaning supplies, and transportation. Many facilities bill between $25 and $50 per hour for washing. Cleaning services are simple companies that need very little overhead; to get the company recognized, you just need preparation, commitment, and promotion.
Try introducing luxury products such as floor waxing or outdoor power washing for an extra charge if you are trying to distinguish yourself from other cleaning providers. Such services could be the determining factor between your new cleaning service and experienced businesses that retain a customer list too wide to offer the cleaning standard.
You can develop yourself as a freelance copywriter if you’re a natural storyteller with a bit of marketing experience. Lots of organizations can pay for your services, whether you post blogs, online content, or news releases. By bringing SEO expertise to the table to help your customers craft a plan to attack particular keywords that their target group is already using in their online searches, you will maximize the benefit. Many freelance copywriters charge $40 to $50 per hour, but even more, maybe charged for those with experience in a given vertical.
Freelance copywriting is a perfect company to manage, and you can work as long as you have an Internet connection. It’s a company that you can run from the comfort of your own house, or if you are traveling, even from the road. You might also make freelance writing your full-time job if you build a wide enough network and receive references from happy customers.
It’s Time to Launch Your Business
It is very straightforward to start companies with the concepts listed here, and those with slightly greater implementation challenges also have a better return on investment.
For the formation of a new start-up, these developing markets should be well regarded, and investing in one of these industries would be one of the best decisions you will take this year. It will allow you to get a separate spot in the industry by incorporating the new technological solutions into your business functionality.