Benefits of outsourcing payroll for all business sizes

While businesses of different sizes operate differently according to scale, payroll management is time-consuming and equally exhausting for all businesses to deal with. Outsourcing the tedious processes has always been a popular option for enterprises of all sizes and types due to the general benefits of simply delegating the task to a third-party specialist.

Contrary to popular belief, smaller businesses are main clients of payroll services providers, and often outsource payroll and HR management. While limited in number of employees, payroll management involves complications such as compliance, national insurance etc., and most small businesses are not equipped with such expertise required to handle payroll.

SMEs looking to expand and grow outsource their payroll for the major pros of reducing costs and focusing better on their own business. Once the weary procedure of payroll management is out of the way, entrepreneurs can turn their full and undivided attention towards developing their own business. What’s more is that outsourcing payroll yield significant cost savings, resulting from the reduced workload and minimized calculation errors.

Having worked with thousands of overseas and local clients, Primasia is well-versed the complexities of legislation in different areas and ensures watertight compliance with local regulations. Primasia has a fully qualified team with over 10 years of experience, ready to take your payroll chores off your plate for you, letting you reduce costs, save time and concentrate on you core business.

Contact Primasia today for payroll management and other corporate services!

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

China: The World's Largest and Fastest Growing E-commerce Market

Primasia Corporate Services is your e-commerce partner in China, offering China e-commerce solutions, from finding the most suitable platforms, to account set-up and management, to logistics and after-sales management services. China is well-known for being the world's largest and fastest-growing e-commerce market, with plenty of opportunities for companies that act quickly. China’s e-commerce market is setting the benchmark for retail businesses across the globe-- driven by mobile consumer behavior, social media commerce marketing strategies, trusted digital payment systems & creative innovation.

Statista’s latest report shows that retail e-commerce sales in China increased from US $403,458 billion in 2016 to $499,150 billion in 2017-- but notice that the projected data shows  sales will reach $599,995 in 2018, while 2022 projected at over $956 billion!

E-commerce growth has been sustained by increasing prices on physical retail space, and simply due to the convenience of ordering via mobile versus shopping in congested urban areas. China e-commerce has quite simply become the new norm, and the growth of new retail business all lies within this new business model. Platforms and digital development, such as TMall, JD.com, Amazon China, Taobao, and personal business websites, have been designed to cater to Chinese consumers and is now setting a global precedent for all future commerce.

If you are interested in setting up business in Hong Kong or China, then Primasia Corporate Services is the one to consult. Primasia is a leading professional provider of corporate services, with experts who have worked with thousands of overseas and local entrepreneurs, consultancies, manufacturers, trading firms and startups etc. Come to us for e-commerce strategies! We will get your business up and running on online shopping platforms such as TMall, JD.com and Taobao in China, which can be difficult and time-consuming for international businesses to navigate. Contact us today to learn more!

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Don’t have enough funds for a business startup?

Dreaming about jumpstarting a business is easy enough, but many young entrepreneurs fail in the early stages of business incubation due to lack of capital, so what can you do to ensure that your idea is a winner?

Here are a few programs from which many young successful businesses have received support:

Youth Business Hong Kong (YBHK)

With the aim of developing an entrepreneurial culture amongst young people in Hong Kong, the Hong Kong Federation of Youth Groups set up Youth Business Hong Kong (YBHK) in 2005 together with Youth Business International, and has since been supporting young entrepreneurs in their business endeavors.

The YBHK scheme offers successful applicants a maximum of HK$100,000 interest-free loan for starting up their business and/or supporting their business development, along with supporting services including business mentorship, professional consultancy, business support, and information and networks. Aimed at supporting young people in their business endeavors, YBHK is only open to applicants aged between 18 and 35 with a feasible business idea to be enacted or an existing business younger than 3 years.

Learn more about it here!

Microfinance Scheme

The Microfinance Scheme was first launched in 2012 by Hong Kong Mortgage Company Limited in collaboration with other banks and NGOs, and has been assisting business startups with the Micro Business Start-up Loan since.

The loan offers successful applicants a maximum loan of HK$300,000 charged with interest with flexible repayment arrangements. The scheme also provides mentorship and entrepreneurial training for business starters who so require such services. It is only open to applicants aged 18 years or above, who are applying with the purpose of starting up a new business or running a business younger than 5 years.

Learn more about it here!

Cyberport Creative Micro Fund (CCMF)

Cyberport has long been introducing programs to nurture the younger generations’ innovative spirit, and its Cyberport Creative Micro Fund (CCMF) helps young entrepreneurs in the early stages of business incubation. It has funded businesses such as GOGOVAN and Klook to their successes today.

The CCMF program offers successful applicants a grant totaling HK$100,000 over the course of six months, and supports the businesses with mentorship and business advice, local and global business networks, publicity and promotion etc.

The grant is only open to projects pertaining to the digital technology field and have not or/and will not participate(d) in other funded programs which provide support in similar stage as CCMF.  

          

Learn more about it here!

Running a business is more than just securing startup funds; Primasia provides one-stop services from company formation to accounting, tax filing and payroll management, and will ensure that your Hong Kong company is compliant with the local regulations. Contact us today for more corporate services!

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Small Business Owners: Overcoming Challenges

There are many challenges out there that impeded the progress and growth of small businesses, and it can be hard for an entrepreneur, who already wears so many different hats, to overcome them. We at Primasia Corporate Services would like to outline two effective courses of actions small business owners and entrepreneurs can take to overcome challenges whilst running and growing their business.

Since 1987, Primasia Corporate Services has been helping overseas’ large and small businesses, as well as startups, to expand to Asia, especially Hong Kong and China. We are known for our highly qualified and experienced staff, for offering tailor-made corporate solutions, and for assisting international companies (of all sizes) by supplying an entry point to Hong Kong and China and helping to successfully establish your business here along with handling and organizing all the confusing tax and establishment paperwork.

Long-Term Planning

Yes, it is important to stay on top of daily operations, but strategizing (i.e. planning ahead) is just as important. By looking ahead your business can engage in business opportunities you might otherwise miss -- from planning and promoting holiday sales, to developing new products to meet your customers changing needs, to keeping better track of your finances.

The easy solution to this is to create a schedule, set aside time each week, month or quarter (whichever best meets your needs) to review your long-term plans, upcoming sales opportunities, review your finances and take stock of your customer base.

Bonus Tip: Check out reviews of your products online to see what’s going well and what can be improved upon.

Marketing

The majority of small business owners are not marketing professionals-- but nearly all of them do some part of their marketing themselves. Marketing can be difficult to master, but don’t give up! When trying to grow your business, it can be easy to lose one’s self in the busy day-to-day work and let marketing slide to the side. 

Instead of making marketing an “all or nothing” endeavor, try taking small, consistent steps each day. Whether it’s a few minutes spent tackling social media, to planning an upcoming sale and to designing your marketing materials (and promoting them!). Small consistent steps can take your small business far-- until you have the means to hire a professional, and allow you time to concentrate on your core business growth.

Ultimately the time you set aside for long-term planning and marketing your business will be worthwhile. And when you’re ready for some assistance, visit Primasia Corporate Services and take a look at our services. Our experts can help your business succeed!

Connect with Primasia Corporate Services Limited

Hong Kong Headquarters: Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Website: https://www.primasia.hk/

LinkedIn: https://www.linkedin.com/company/primasia-corporate-services-limited-pcs-

Facebook: https://www.facebook.com/PrimasiaCorporateServicesLimited/

Twitter: https://twitter.com/PrimasiaHK

Credit: Prosperity Research Digital Agency(PRDA): PRDA's Founder Douglas White developer of proven 5 step, 4 KPIs process of Social Media Marketing.

Primasia at HKTDC Cocktail Reception

Last Tuesday (12/6/2018), Primasia had the pleasure of attending a cocktail reception organized by the Hong Kong Trade and Development Council (HKTDC), where we met with Regional and Branch Directors of HKTDC’s global network. It was truly an honor to be invited to this event, and we met a lot of people from different industries.

Young people: why should you choose to start up a business now? (PART 2)

Check out part 1 of the blog to learn more about how the younger generation has an edge over the experienced in starting up a business!

“Information technology and business are becoming inextricably interwoven. I don’t believe anybody can talk meaningfully about one without talking about the other.”

- Bill Gates, founder of the Microsoft Corporation

Born and raised in the digital era, there is no one more experienced with social media and technology than young people. Just as how the Industrial Revolution changed the way businesses were ran, a new wave is upon us and there is no denying that the world is changing as rapidly as information flows on the Internet. In this time and day, young people with their familiarity with technology and use of social media are pioneering the world of business, and here are a few more reasons to add to the list as to why it would be favorable for the younger generation to start businesses now:

The growth of E-commerce

In face of rapid digitalization, the retail market has integrated from the traditional brick-and-mortar stores to e-commerce, bringing unprecedented changes to how business is being run. Alibaba founder Jack Ma says that “e-commerce is for young people, mainly people under 30, who were born in the internet era, and for small businesses” in this article and statistics here estimate that digital buyers will shoot up to over 2 billion worldwide as of 2021. With an appropriate platform for youngsters to launch their business as well as a consumer base with high purchasing power, circumstances have certainly grown favorable for young business startups.

Social media’s role in marketing and business startup

As the consumer base shifts towards a new generation, customer relationship and brand reputation are becoming almost unreservedly reliant on your business’ social media presence. The rise of the Internet not only means more advertising spaces but as well as new marketing strategies involving social media. At less than a fraction of the cost of billboard advertising, businesses can now reach out to a much larger audience and ensure that they are targeting interested potential clients, which is a huge advantage for social media experts Generation Z.

Social media is more than just marketing strategy; it is a platform of many startup opportunities. With the help of social networking sites, a business could be set up anywhere in the world and still attract plenty of customers and clients online. It has become almost too easy for young entrepreneurs to simply start up their business by setting up an Instagram or Facebook account.

…

Young people: with your expertise in social media and technology, combined with the growing influence of e-commerce, why not start up a business now? Take advantage of what you’ve got and be the boss of your own business today! Primasia has been helping both local and overseas companies to set up business entities in Hong Kong and China, as well as providing on-going supporting services from company secretary to accounting and tax filings for 30 years. For more information, contact us for help with starting up your business!

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Primasia attended a seminar about GDPR

Yesterday Primasia has attended a seminar about General Data Protection Regulation (GDPR) organised by Stephenson Harwood. The GDPR is one of the hot topics recently and we were glad to know more about it.

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

China E-commerce

Need assistance launching your e-commerce business in China? Let’s talk! Our services includes account set-up, management, logistics, sales administration and more.

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Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong

Young people: Explore this alternative to furthering education

Getting a stable and decent job isn’t the only career pathway you can take after graduation; business startup is a viable career option as well, albeit not a popular one among fresh graduates as it involves much risk-taking and doesn’t guarantee a stable income. Regardless, it will be beneficial to learn more about business startups and hear directly from people with experience in the following events:

Innovation Summit 2018

Date: 15/6/2018

Venue:  Hong Kong Convention and Exhibition Centre

Innovation Summit 2018 is co-organized by HSBC Commercial Banking and Cyberport, discussing how the business world is redefined by innovation and technology. It is a flagship event that gathers industry leaders, business pioneers, and young startups to explore changes arising from this new, tech-savvy generation.

RISE 2018

Date: 9-12/7/2018

Venue: Hong Kong Convention and Exhibition Centre

As the largest tech conference in Asia (according to CNBC), CEOs and founders of the world’s most influential businesses and successful startups will come and engage in a series of receptions, meetings and addresses. It is a convention of the world’s most experienced and talented entrepreneurs, engaging this legendary network.

Under 30 Asia Summit

Date: 16-18/7/2018

Venue: InterContinental Hong Kong

On its third year, the summit aims to bring together over 300 young leaders and entrepreneurs all over the world, and explore issues including but not limited to sustainable development, disruptive technology and social responsibility!

Learn more about jumpstarting and developing a business from the above events! If you need more information on how to set up a business in Hong Kong, contact Primasia today!

===================================================================

Need more information?

Please contact:

John Barclay -Email

Teresa Tam - Email 

--------------------------

Follow us on:

Website: Primasia HK / Primasia China

LinkedIn: Primasia

--------------------------

Primasia Corporate Services Limited

Tel: +852 2882 2088

Suite 1106-08, 11/F., Tai Yau Building, No. 181 Johnston Road, Wanchai, Hong Kong