As a Cyberport Professional Services Network partner, CW CPA was invited by Hong Kong Cyberport to join a clinic event on 31 March 2021. We had in-depth consultation discussions with start-ups to analyze their business model and brainstorm opportunities in Hong Kong during the event.
Our CW team members in Hong Kong and mainland China, together with our invited business partner from Hewlett Rand, physically and virtually provided professional advice and insights on the Hong Kong market.
Kickstarting a company can be both exciting and challenging when entering a new market. Insufficient knowledge of the local market and its audience can pose as a severe obstacle. Due to the significant difference in consumer behavior between Hong Kong and the start-ups’ headquarters, we provided our insider knowledge of the Hong Kong and mainland China markets. Customization of products, services, marketing, and communication strategies based on the local market is crucial. Likewise, understanding the local market and the local audience is the first step to developing customer satisfaction.
Financing a start-up can also be challenging. Finding investors, pitching business ideas, and attracting investment are far from easy. Our team advised the start-ups to understand their business model’s benefits, unique selling points, and whether they relieve customer pain points. The notion of “demand creates supply” means that despite all odds, the success of any company lies in its service or product uniqueness – How does your product or service differentiate from existing competitors? What makes it attractive for investors and customers to spend time and money?
The overall thought-provoking discussions allowed the start-ups to think in their customers’ shoes where we also provided experience and industry knowledge for them to understand how to reach their business goals.
If you are a start-up company and interested in a one-to-one consultation, please contact:
Ms. Connie Pak
Written by Abigail Casino, Company Secretarial Department and Owen Wang, Latin Department, CW CPA