What Makes Hong Kong So Billionaire-Friendly
If you are a business student and are considering entrepreneurship, Hong Kong is the place to be. Nobody could have predicted that Hong Kong would eventually become the backbone of this British colony established in 1842, but it did. This small island had only a few villages scattered around at the time, but grew over the centuries to become a commercial business powerhouse under British rule. While the reign of Britain wasn’t all positive, what made this colony unique was a climate of low taxes and flexible regulations. No wonder modern day entrepreneurs seek out Hong Kong as a place to live and play.
Since Hong Kong was handed back to the Chinese government in 1997, it’s now a central force in the burgeoning Chinese economy. A large number of high profile business men have made their mark with entrepreneurship in Hong Kong, like Li Ka-shing -- all by his skills and ambition. A study shows that star entrepreneurs are highly intelligent and well educated, with only 16% of them lacking post secondary education. Many of them also go a step further and do a PhD.
When it comes to entrepreneurship, Hong Kong really is the ideal business model to hone your vision. Several business schools in Hong Kong can bolster your success. The top business schools can be narrowed down to a few: City University of Hong Kong, HKUST, Hong Kong University of Sciences, The Chinese University of Hong Kong, and University of Hong Kong. With just these choices alone, there are plenty of resources to make your entrepreneurial dreams become a reality.
Besides having some of the best business schools, Hong Kong’s high living standards will create a comfortable lifestyle for you. Apartments overlooking the Victoria Harbor are luxurious and beautiful, with other great areas like Mid-Levels and The Peak boasting delicious food and a hopping nightlife. The Entrepreneur Club is an association devoted to supporting new entrepreneurs in the area by offering group health insurance, attractive restaurant and hotel discounts, as well as organizing networking events or useful workshops. It’s also very easy to obtain a business registration. Within 20 minutes at the registration office, you can walk out with a business certificate and start a business account the same day. And with co-spaces popping up everywhere, you can start at lower overhead costs until the profits begin to roll in and you are able to expand somewhere else, adding more and more employees to your team. With all these advantages, Hong Kong is ripe to grow your business.
But it’s not all about PhD’s and wealth, when an entrepreneur settles in Hong Kong, he or she creates thousands of jobs for others to give back to the local economy. Some even make sizeable donations to schools, hospitals, or organizations assisting the destitute. Being part of the community and showing success by example is a large dose of pride and joy for the many entrepreneurship success stories that emerge in Hong Kong.
Sure, you could choose places like Singapore, the US, or Switzerland to do your PhD and start a business, but laws and bureaucracy vary in those countries, which can put a damper on your ambitious plans. If you want your shot at being part of the 1%, choose your location wisely, make sure it has more advantages than disadvantages, and a decent standard of living. Most of all, ensure there’s room to be innovative and creative in your market. With the high level of successful entrepreneurs in Hong Kong, it’s clear that this city has all those factors. Don’t hesitate when it comes to opportunities. In the competitive business world, there’s a major difference between being just any old entrepreneur and becoming a well rounded, globally educated entrepreneur. Ask yourself an honest question, which one would you rather be?
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