We talked to Raymond Wong of AsiaBC on how they support small and medium-sized enterprises (SMEs) and investors to do global business in Hong Kong.
Tell us about you, your career, how you founded AsiaBC.
Raymond Wong: Travis and I were working in the banking industry in Hong Kong. We noticed that there is a huge demand for foreign enterprises seeking to establish a platform in Hong Kong as a stepping stone to enter into the greater China market. At the same time, we help the Chinese enterprises set up their Hong Kong platform so they can bring their footprint, products, and services all over the world.
How does AsiaBC innovate?
Raymond Wong: We are a solution-based consulting firm in Hong Kong that provides customized startup and corporate services. We work well with other bankers and professionals in Hong Kong, China, Asia, and other parts of the world. Currently, we are working with over 30 banks worldwide, with over 600 overseas partners. Our service scope covers some very sophisticated solutions like MSO (Money Service Operators) license application in Hong Kong, Labruan company with a crypto license, offshore business establishment with a bank account, etc.
We are also keen on serving our clients with new technology. For instance, we are one of the earliest company secretary firms in Hong Kong, collaborating with fintech account service providers since 2018. Right now, we are working with the top 6 fintech account service providers in Hong Kong to provide alternative solutions for our clients during the COVID-19 pandemic.
How the coronavirus pandemic affects your business, and how are you coping?
Raymond Wong: Besides working with fintech digital banking partners further (since it’s not easy for our clients to travel to Hong Kong for traditional bank account opening), our team also arranged regular business webinars for our overseas partners and clients to join together and get to know more about our provided pragmatic tips on incorporation, banking, and tax advisory during the pandemic. Zoom consultation is also offered complimentarily to replace face-to-face appointments.
Who are your competitors? And how do you plan to stay in the game?
Raymond Wong: We believe that even the strongest competitors can become our business partners. After all, it is through fierce competition that we learn how to survive and thrive in a competitive business environment. Creating a triple-win situation for our clients, overseas partners, bankers, vendors, and AsiaBC are our core belief so that we can fully utilize our connections and resources.
Your final thoughts?
Raymond Wong: Initially, we must always keep an open mind and be adaptable to the things around us. This allows us to be malleable and move with the rapidly changing times. We all know how fast-paced our modern world is, and we must bend with it with equal resilience.
Next, you also have to learn to equip yourself with new ideas. Ask and respect the insights of others when making business decisions. For instance, we must listen to the voice of our employees and consider their input as well. Every person on the team has valuable insights to share, and we must always listen to them.
Lastly, we must understand that technology is essential even for traditional industries like us. We must invest in technology and make sure that we are not using obsolete systems.
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