{"id":10715,"date":"2017-01-23T13:01:50","date_gmt":"2017-01-23T13:01:50","guid":{"rendered":"http:\/\/www.instantoffices.com\/blog\/?p=10715"},"modified":"2022-06-25T20:05:55","modified_gmt":"2022-06-25T20:05:55","slug":"can-smes-still-afford-set-business-hong-kong","status":"publish","type":"post","link":"https:\/\/www.instantoffices.com\/blog\/reports-and-research\/can-smes-still-afford-set-business-hong-kong\/","title":{"rendered":"Can SMEs Still Afford to Set Up Business in Hong Kong?"},"content":{"rendered":"

Although it\u2019s one of the most expensive cities for high-rise office rentals in the world, demand for coworking space in Hong Kong<\/a> continues to soar. Despite being such a competitive market, research suggests it\u2019s still possible for small businesses to secure affordable workspace in this thriving global hub.<\/p>\n

With a highly diverse market and unrivalled manufacturing capabilities, Hong Kong boasts an economy that supports foreign business owners and entrepreneurs. As a major financial centre and travel gateway, its location in the heart of Asia makes it ideal for international trade and investments, and a sought-after location to set up a business.<\/p>\n

To determine the affordability of SMEs setting up in Hong Kong, Instant has conducted an analysis of major business locations along commuter routes to determine the average cost-per-desk in each area, as well as the number of co-working centres per area.<\/p>\n

With the average cost per desk per month ranging between HK$3,597 in Wan Chai<\/a> to HK$4,827 in Sheung Wan<\/a>, results suggest that if SMEs and entrepreneurs embrace alternative solutions to conventional office leasing, it\u2019s possible to secure office space in Hong Kong<\/a>\u2019s business districts.<\/p>\n

Cost Per Desk at a Glance<\/h2>\n

\"Cost<\/a><\/p>\n

According to our flexible office experts, there is an increase in the demand for office space in areas around Kowloon<\/a> such as\u00a0Tsim Sha Tsui<\/a>, due to the fact that Kowloon is generally more cost-effective than Central<\/a>. With an average cost per desk of HK$12,198, co-working in Central has become a viable alternative for SMEs who want to set up alongside big players in the finance industry, as well as major corporations, with 46 locations in that area alone.<\/p>\n

Locations across Hong Kong Island outside of Central such as\u00a0Admiralty<\/a> and Causeway Bay<\/a> are areas high in demand due to a well-established business infrastructure, while in Kowloon, which has around 70 co-working centres, Tsim Sha Tsui is considered a central business hub with desk costs averaging around HK$4,924.<\/p>\n

Newly emerging centres such as Kennedy Town<\/a> and Sai Ying Pun<\/a> are proving to be popular as alternative locations. It is inevitable that further expansion of alternative parts of HK will see growth to reflect the opening of newly built MTR lines as they open.<\/p>\n

Companies looking for even more cost effective solutions are steering away from prime locations and establishing themselves in more spacious areas in and around Lai Chi Kok<\/a>, Kwun Tong<\/a> and Diamond Hill<\/a>.<\/p>\n

Flexible office space solutions include everything needed for a business to get started. With immediate occupation, pay-as-you-go services on demand and easy budgeting options, SMEs can benefit from securing an address in Hong Kong that would otherwise be unattainable.<\/p>\n

Speak to one of our experts<\/a> for more information on finding the ideal serviced offices in Hong Kong<\/a>.<\/p>\n

<\/h2>\n
\n

Looking for Office Space?<\/strong><\/h2>\n

We Operate in Some of the World’s Top Cities:<\/span><\/p>\n

London<\/a>, New York<\/a>, San Francisco<\/a>, Paris<\/a>, Singapore<\/a>, Hong Kong<\/a>,
\nSearch more locations<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Although it\u2019s one of the most expensive cities for high-rise office rentals in the world, demand for coworking space in Hong Kong continues to soar. Despite being such a competitive market, research suggests it\u2019s still possible for small businesses to secure affordable workspace in this thriving global hub. With a highly diverse market and unrivalled manufacturing capabilities, Hong Kong boasts an economy that supports foreign business owners and entrepreneurs. As a major financial centre and travel gateway, its location in the heart of Asia makes it ideal for international trade and investments, and a sought-after location to set up a business. To determine the affordability of SMEs setting up in Hong Kong, Instant has conducted an analysis of major business locations along commuter routes to determine the average cost-per-desk in each area, as well as the number of co-working centres per area. With the average cost per desk per month ranging between HK$3,597 in Wan Chai to HK$4,827 in Sheung Wan, results suggest that if SMEs and entrepreneurs embrace alternative solutions to conventional office leasing, it\u2019s possible to secure office space in Hong Kong\u2019s business districts. Cost Per Desk at a Glance According to our flexible office experts, there is an increase in the demand for office space in areas around Kowloon such as\u00a0Tsim Sha Tsui, due to the fact that Kowloon is generally more cost-effective than Central. With an average cost per desk of HK$12,198, co-working in Central has become a viable alternative for SMEs who want to set up alongside big players in the finance industry, as well as major corporations, with 46 locations in that area alone. Locations across Hong Kong Island outside of Central such as\u00a0Admiralty and Causeway Bay are areas high in demand due to a well-established business infrastructure, while in Kowloon, which has around 70 co-working centres, Tsim Sha Tsui is considered a central business hub with desk costs averaging around HK$4,924. Newly emerging centres such as Kennedy Town and Sai Ying Pun are proving to be popular as alternative locations. It is inevitable that further expansion of alternative parts of HK will see growth to reflect the opening of newly built MTR lines as they open. Companies looking for even more cost effective solutions are steering away from prime locations and establishing themselves in more spacious areas in and around Lai Chi Kok, Kwun Tong and Diamond Hill. Flexible office space solutions include everything needed for a business to get started. With immediate occupation, pay-as-you-go services on demand and easy budgeting options, SMEs can benefit from securing an address in Hong Kong that would otherwise be unattainable. Speak to one of our experts for more information on finding the ideal serviced offices in Hong Kong. Looking for Office Space? We Operate in Some of the World’s Top Cities: London, New York, San Francisco, Paris, Singapore, Hong Kong, Search more locations<\/p>\n","protected":false},"author":1,"featured_media":10725,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[214,76,1],"tags":[160,353,351,352],"class_list":["post-10715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-instant-offices-news","category-reports-and-research","tag-cost-per-desk","tag-cost-per-desk-hong-kong","tag-hong-kong","tag-office-space-hong-kong"],"yoast_head":"\nCan SMEs Still Afford to Set Up Business in Hong Kong? Instant Offices<\/title>\n<meta name=\"description\" content=\"Can small businesses secure affordable workspace in this thriving global hub? 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