Startup smarts: How to access business essentials for less

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Mastercard and Hang Seng Bank have joined forces to offer more savings for entrepreneurs through the Hang Seng Commercial World Mastercard.

Published: 12:00am, 23 Mar 2023

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The Hong Kong start-up ecosystem is buzzing – the number of startups reached a record high last year despite the pandemic, according to InvestHK. While the city’s speedy business registration, simple tax system, and access to financing make it easy to start a business, the everyday realities for start-ups calls for agility, tenacity and creativity to solve the challenges that come their way.

Registering the business is probably the easiest part of it all. Next, startups need to find an affordable workspace, hire people and open a bank account. They must make their websites and set up e-commerce systems along with the necessary accounting, payroll, marketing, and productivity apps, and cloud storage space. They might also need online videoconferencing apps to connect with remote team members or overseas clients and reliable travel providers for business trips.

Although it may take only a few hundred dollars to subscribe to these business-critical services, costs do add up. On one hand, entrepreneurs want to scale their businesses as quickly as possible; on the other, they want to save their capital. What can they do to balance both?

Accessing start-up essentials for less

Saving money should not come at the expense of growing the business. One way entrepreneurs can ease growing pains is by choosing the right payments partner.