Long-Term Planning and Marketing Advice for Small Business Owners

Here at Primasia Corporate Services, we’ve assisted a vast array of companies in setting up shop in Hong Kong, China and Singapore. Small businesses especially have several challenges they must overcome in order to succeed and thrive. Below we have for you two effective courses of action that small business owners and entrepreneurs can take to overcome challenges while focusing on running and growing their business.

Long-Term Planning

Of course, it’s vital to stay informed and knowledgeable about your companies’ daily operations but strategizing for the future is just as important. By planning ahead, your business can engage in business opportunities you might otherwise miss-- such as planning and promoting holiday sales, developing new products to meet your customers ever-changing needs, and keeping better track of finances.

The easy solution to this is to create an organised work schedule, setting aside time each week, month or quarter (whichever best meets your needs) to review your long-term ambitions and plans, along with upcoming sales opportunities, reviewing the budget and taking 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 

Nearly all small business owners at least participate in their companies marketing strategy and likely do the majority of it themselves. Despite this, many small business owners are not marketing professionals and frequently “wing it”, making significant errors. Be of good cheer, marketing can be difficult to master but it is very important to stay on top of- don’t give up!

Of course, you know that the best choice is to hire a professional- but when that is not in the budget the best course of action is to, again, schedule time for it- this time daily or at least weekly. When trying to grow your start-up it’s very easy to lose one’s self in the busy day-to-day work and let marketing slide to the side. Try taking small, consistent steps each day instead of making marketing an “all or nothing” endeavour.

This could be a few minutes spent tackling social media, or an hour set aside to plan an upcoming sale, or a meeting with your staff one afternoon to design your marketing materials (and a plan to promote them!). Small consistent steps can take your small business far-- until you have the means to hire a professional, allowing you time to concentrate on your core business growth. And when you’re ready for professional assistance, visit Primasia Corporate Services and take a look at our services. Our experts can help your business succeed!

Since 1987 we have been helping overseas’ large and small businesses, as well as start-ups, expand to Asia, especially Hong Kong, Singapore and China. We are known for our highly qualified and experienced staff, and for our tailor-made corporate solutions. Get ready to expand your business successfully, with Primasia Corporate Services. Email us at info@primasia.hk or call 2882 2088 today!

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Connect with Primasia Corporate Services Limited

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

B.O.P.I.S: The Trending and Generating Increased Revenue for Retailers

BOPIS (buy online, pickup in store) is growing more popular with shoppers, and that trend is expected to continue to rise. Primasia, with our wide variety of e-commerce solutions can be your crucial e-commerce partner in China, helping you find the most suitable online sales platforms for your business, assist with account set-up and management, as well as with logistics and after-sales management services.

Omnichannel retailers should pay attention to recent trends- BOPIS has become a popular convenience service for customers. By providing this service to your valued customers, retailers gain an opportunity to build customer loyalty as well as additional chances to generate both more online and in-store revenue.

Shoppers use BOPIS to: 

• Save Time 
• Save Shopping Costs 
• Avoid Crowds 

There are numerous opportunities cross-selling, bringing in additional revenue for your business. The majority of customers who use BOPIS purchase additional items while they are in the shop to pick up their order adding to your additional revenue.

With retailers providing updated shopping experiences, shoppers are now even more likely to purchase items on their mobile devices- versus desktop shopping. This means that to be at the top of the BOPIS game, retailers need to offer a pleasant mobile shopping experience as well as a good desktop shopping experience.

Mobile and Desktop Shopping should consider:

• Ease of finding products
• Variety of payment options 
• Quick and easy checkout- the less steps the better!

When customers can see at a glance that items are visibly marked as available for pickup, they are more likely to order. Showing available items in real-time requires extremely accurate inventory and good communication.

What shoppers expect:

• Immediate correspondence (via email or text) confirming the order and expected pick-up time.

• A Follow-up email or text advising them that their order is ready for pickup, along with any pertinent information such as shop address, parking info or where the pickup counter is located.

• Shoppers expect to walk in and pick up their orders quickly- ideally with no line(s) to wait in.

• Shoppers appreciate being able to quickly pick up their order without having to go through multiple steps to prove their identity

Primasia Corporate Services 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 start-ups. We can get your E-Commerce 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 at info@primasia.hk or call 2882 2088 to get started.

Connect with Primasia Corporate Services Limited

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

Tips for Establishing a Successful Startup

Are you starting a new business? We have a few important start-up tips that will help guide you on your way to entrepreneurial success! Primasia is the leading professional provider of corporate services in East Asia and has been for over 30 years. During that time, we’ve worked with thousands of overseas and local clients, including entrepreneurs, consultancies, manufacturers, trading firms, and start-ups, helping them to set up companies successfully in China, Hong Kong and Singapore. This means we’ve seen what works successfully in the local business world… and what doesn’t work.

What will make your company a success? What decisions make or break a new start-up? In order to legally establish your business and make sure you’re following all the local tax laws and other procedures; you’ll need to follow a checklist; but checking off a “to-do” list won’t make you successful. You need to be motivated about your new venture, with the ability to invest time and passion- and the right expectations.

●     Choose the right business for you, the key to success is to find needs that you can fill, want to fill, and that will produce enough income to build a profitable company.

●     Know yourself. Seriously think about your true motivation level, what you are willing to do to become successful, how much time and money you have for your new venture. Plan your business goals around your resources and goals.

●     Research your competitors, check out their social media and local stores- learn as much about them as possible. Learn from them and study their customers as well- these are likely to be your target customers as well! This is something you should do daily.

●     Embrace digital marketing! Every business, no matter how small, needs to have a strong online presence- even customers that buy mostly in stores are researching online before purchasing. You will need, at minimum, a professional website and a social media presence. This is where your competitor research can start coming in handy- what social media platforms are they most focused on? Start there.

Primasia Corporate Services is here to assist your start-up with everything you need- from Company Incorporation in Hong Kong and/or China, to assisting with all trade and banking documents, tax compliance, employee visas, payroll and more. When you are ready to set up your e-commerce business in Hong Kong and/or China, contact Primasia to get started- email us at info@primasia.hk or call 2882 2088 today!

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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: Corporate Services in East Asia

For over 30 years, Primasia has been a leading professional provider of corporate services to companies in multiple jurisdictions, specializing in China, Hong Kong, Singapore and offshore jurisdictions such as Seychelles, Samoa, Cayman Islands, and the British Virgin Islands. There are many reasons for expanding your business to Asia, by why should you choose Hong Kong specifically? There are many reasons so many successful international companies choose Hong Kong as an expansion location. Hong Kong has many advantages as an international business city, for example: it’s simple tax system, employer-friendly legislation, common law system, and pro-business government.

Hong Kong has one of the world’s most independent economies, where everyone enjoys unrestricted flow of information, capital, talent and goods. You will also find that, as a diverse and international community, most locals and long-term expats have business expertise and are usually trilingual (English, Mandarin & Cantonese), highly trained, flexible and mobile. Hong Kong’s open-door immigration policy attracts the best overseas professionals to the city.

With our expert assistance, establishing a company in Hong Kong is a easy process. Your business could be up and running in less than a week! Please visit our website here for in-depth details, including setting up different types of businesses, minimum requirements for company registration, an approximate timeline for incorporation (approx 3-5 business days), opening a company bank account and more. Or you can email us at info@primasia.hk or call 852 2882 2088.

     Our comprehensive Hong Kong company incorporation solution includes:

●     Assistance with Bank Account Opening

●     Company Formation

●     Provision of Company Secretary

●     Provision of Registered Office Address

●     Preparation of Significant Controllers Register

●     Provision of Designated Representative

Talk to us about incorporation requirements for China, Singapore and offshore jurisdictions and we’ll be happy to guide you through the local process. Every country in Southeast Asia has their own specific provisions, which is one reason professional assistance is essential for a smooth transition!

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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.

Hong Kong: Meet Buyers from all over the World!

Hong Kong is the springboard companies need in order to expand their business to mainland China, Asia, and Internationally. Here it’s possible to meet buyers from all over the world! Primasia Corporate Services is here to assist you, we have over 20 years of experience in China in multiple industries, as well as local offices in Beijing, Shanghai and Guangzhou. Check out our Full China Corporate Services, which is sure to help you succeed in expanding your company.

Hong Kong offers very attractive business opportunities for international companies. As an event hub in Asia, it is hard to surpass Hong Kong’s ability to showcase your products or services in Asia as well as globally. From Trade Shows to International Art Exhibits to Electronics Fairs, Hong Kong is well known as “Asia’s Export Market Window”, constantly gathering buyers and exhibitors from both Mainland China to overseas in one place. Hong Kong is a truly global place where it’s possible to meet buyers from all around the world-- it’s a great place for any company to be!

Hong Kong Optical Fair

Vendors at various Fairs and Expos agree, saying:

Hong Kong Optical Fair (Nov 2019):

"We meet new clients every time we come to the Hong Kong fair. The range of buyers here is very diverse, we can find a lot of opportunities.".

Hong Kong International Outdoor and Tech Light Expo (Oct-Nov 2019):

“Hong Kong is definitely a good place for us to reach out to clients around the world.”

Hong Kong International Lighting Fair (Autumn):

"There are a lot of mainland companies that we can follow up with after the fair."

Here at Primasia, we are specialised in offering complete corporate solutions to multinational enterprises in Hong Kong, China and Asia. In addition, we also offer professional services in Singapore, as well as offshore jurisdictions such as Seychelles, Samoa, Cayman Islands, and the British Virgin Islands. Simply contact us for further details and assistance.

Get ready to expand your business successfully, with Primasia Corporate Services.  Email us at info@primasia.hk or call 2882 2088 today!

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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.

Essential to Entrepreneurial Success: A Written Business Plan

Primasia Corporate Services has worked with thousands of clients, both International as well as in Hong Kong and Asia. One thing we’ve seen amongst new and aspiring entrepreneurs is that most struggle with putting together a written business plan- and wondering if it's really necessary to have anything written down. Having a written business plan will not only help you to improve your ability to focus on the correct issues (like financials, planning your marketing, operating costs and how-to’s, positioning against competitors etc) but will also aid you in finding the right partners, or investors. In short-- a written business plan increases your chance of business success.

It's no secret that 90% of new startups fail. Follow these actionable business plan tips to be in the other 10%.

1. Design a short company overview document.

Starting a new business means you’ll need to sell everyone on the viability of your idea. Creating a single-page double-sided brochure will not only engage people, but may prompt them to offer support and aid in moving forward.

2. Create a short video promoting your company and/or idea.

You’ll find that even traditional business people will be impressed with a introduction video these days, just be sure to keep it under 2 minutes. Showcase your business focus and idea, as well as your passion and commitment to the project. The first 30 seconds of the video are the most important, so put the key points first. Keep it concise, factual, and think about including a prototype or customer to make the video really special.

3. Prepare your business plan by creating a 20-page document.

This is where you put in all the details and specifics about your concept. How your company will position itself against competitors, finances, etc. This document must cover all the information potential investors will need about your new start-up, in detail. If you are an entrepreneur who doesn't feel comfortable writing, there are many advisors who are available to help, for a fee. Having someone review your business plan is highly advised- they can ensure you have all the proper legal disclosures and content.

Having the business idea is typically the easy part, the hard work- and deciding factor in your new companies success or failure- is in the execution. By completing these three business plan elements outlined above, you will stand out above the crowd and have a much better chance of success.

Get ready to expand your business successfully, with Primasia Corporate Services.  Email us at info@primasia.hk or call 2882 2088 today!

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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: Company Budget Planning for 2020

Since 1987 Primasia has helped thousands of overseas and local clients set up their companies in Hong Kong and China, including entrepreneurs, consultancies, manufacturers, trading firms, start-ups and SMEs. Our experts have extensive experience in the corporate services industry and provide efficient, responsive and high-quality support to our clients. And now, as we approach the end of 2019, we suggest business owners turn their attention to planning for 2020. Planning the future is always a daunting task, but it’s perhaps particularly worrisome for 2020. The economy is booming- but, `tariffs, global recession fears, and political upheaval all remain to complicate the forecast for many companies.

No matter if you’re just hoping to hold steady or hoping for expansion in the coming year, proper budgeting can help every business accomplish their goals. So, read on for a couple of budgeting tips to keep in mind as we head into 2020:

Focus on your Emergency Fund

Every company should have an emergency fund for those unexpected costs that pop up, but it may prove even more vital to have in 2020. An emergency fund can help get your company back in action right away after a disaster- in fact an emergency fund may be critical. According to FEMA, 90% of businesses that don’t reopen within five days of a disaster will fail within a year. So, as you can see, planning for the “what if’s” may prove to be the best business decision you can make for the coming months.

Pinpoint what investments return the best ROI

ROI, or return on investment, is something you should consider at every level of your company. ROI is especially important for small businesses or those with limited funds. When every dollar counts, ROI takes on an even greater importance. For example, experimenting with marketing - like social media marketing, or influencer marketing - could make sense for your business. These types of campaigns can build your brand, and help acquire new customers. Be that as it may, there are other forms of marketing that are proven to have a better ROI- like email marketing. Surprised? Research shows that email marketing has the best ROI of any marketing tactic because it focuses on things like retaining existing customers and turning them into dependable buyers.

Take this mindset into all levels of your company. What’s going to have the better ROI this month, this quarter, this year?

As a Silver Partner of Xero, Primasia is uniquely set up to help your business transition to Xero, provide Xero training if needed, and assist with audit and tax filing as well as help you understand how your business is performing. We have over 30 years of experience of helping companies from across the globe to set up successfully in Hong Kong, China and other offshore jurisdictions. Contact us today for assistance with your cloud accounting and business needs and we’ll help you put your best foot forward for future financial success!

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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.