A quick guide to expand internationally with ease

Today’s fast paced and highly competitive business environment has increased the pressure on Hong Kong businesses to succeed on a tough marketplace. Business owners in Hong Kong need a solution that removes the hassles of day-to-day running of an office so they can focus on increasing their bottom line and succeeding in any market.

The effort of having to source the right office in the right location and dealing with exorbitant rental fees, set-up costs, furniture and IT support can be quite stressful on its own – and then people need to be hired to run the operation.

Often, a barrier to Hong Kong businesses to expand overseas is the belief that substantial investments in time and money has to be made in setting up an operation in another country when in fact, the reality is quite the opposite.

Expanding a business - either in Hong Kong and China, Asia or internationally – is an exciting time for small business owners. While entering a new market is always challenging, there are four things to that can make market entry considerably less stressful, cost-effective and allows companies to get ‘boots on the ground’ quickly, efficiently and professionally.

Choosing the right location
Growing a business in new or unknown markets can be tricky–factors such as growth potential and target market and choosing the right office location are all important decision. Is it central? Will it be accessible for clients or customers? How easy will it be to travel there? Is there a pool of skilled workers ready to support the business?

It's these nitty-gritty aspects that can make or break a business. So before taking the plunge, a good option can be to test the water first with a serviced office that's already set up and ready to go. A good idea would be to look for serviced offices – whether eyeing markets in Shanghai or San Francisco - as flexible leases can be adapted to suit business needs and potential growth trajectory.

Act like a local
Appearing as a local, even if the main office maybe thousands of kilometres away, helps to create the right impression with potential clients in new markets. Having a local presence enables a company to position their brand as being more established with a stronger connection and expertise locally.

A serviced office can provide a way to quickly establish that presence – with the flexibility needed in those early months of expansion. Getting a local phone number, address and even a receptionist is easy and takes the pressure off when the company is busy building a new customer or client base.

Similarly, having local IT support and access to the latest technology means that companies have the right infrastructure in place to start operations immediately and allows getting used to new environments quicker.

Fly in, fly out
For those not ready to commit to a new location permanently, having offices that can be used periodically for client meetings and even having access to a local mailbox and phone number enables companies to gain a foothold in new markets.

The virtual office is a different workspace model that offers the use of a premium address, a phone number and answering service from local receptionists, access to business lounges, meeting rooms and secretarial support around the world, for the fraction of the cost of having an established office.

Importantly, a virtual office gives a professional presence, mobility and flexibility for a relatively low outlay on a monthly basis and month-by-month terms to help companies manage cash flow.

Companies seeking to go to market fast need a virtual office that offers an extensive portfolio of IT and communications products to enable and maximize productivity and effectiveness. Instantly booking boardrooms or meeting rooms in multiple locations or making / receiving secure calls without interference or drop outs, 24/7 IT support, VOIP capabilities and more are all mission critical.

Stay productive in the right environment
As a business just starting out, a serviced or virtual office allows employees to feel connected and valued in an environment that allows them to be productive. Having access to a professional space where they can collaborate and work as a team helps to promote a feeling of company solidarity.

With ready access to the newest unified collaboration technologies, employees can work together as part of an international team cost-effectively and efficiently.

Serviced and virtual offices provide a suite of offerings that can be tailored to suit the needs of company owners looking to expand their business overseas so as to unlock new revenue streams. Far from being a daunting experience, companies looking to expand overseas can quickly start engaging customers with unprecedented ease and convenience.

The accessibility of running a business online and having the technology to support this and a professional business presence is what can be the defining factor that helps a business stand out from the competition.