What’s The Challenge You Face Growing Your Business?

By January 25, 2019 March 25th, 2019 Campfire Collaborative Spaces
Coworking Council

Quickfire Question!

We’re a curious bunch here at Campfire.

We work with hundreds of Hong Kong based Solopreneurs, Entrepreneurs, Corporates and SME’s from a wide range of industries and niches and we’d like to know if we can detect a commonality of “challenges” that you face trying to grow a business here in Hong Kong.

Are you outside of Hong Kong? If so, then it doesn’t matter! Please drop your thoughts below too and we’ll include you in our mega report.

January 2019 Wrap Up

We wrap up January pre-Chinese New Year and we’re really grateful to the 11 founders and team members that took time to complete our one question survey.

Starting a business in Hong Kong, like any other city, has its challenges but already from our survey, we are detecting some commonalities of concern, which are: raising funds (pre-seed upwards) and generating leads.

Latest Responses

(We update this page typically within 12 hours of user submissions).

What’s The Number One Challenge You Face Growing Your Business in Hong Kong?


Stephen Stanton | FinTech COO, Up Blockchain Technology Limited

Recruiting a “complete talent stack” is our biggest challenge in HK. There are GREAT applicants for some roles and a lack of available candidates for others. We can’t do it all under one roof, so we have to source world-class capabilities from other countries. Fortunately, Hong Kong teams excel and thinking and operating internationally

 


Vicky Chan | Founder, Avoid Obvious Architects

Hiring talented people that are responsible and willing to work hard. Employees are entitled to so many benefits but don’t perform as well as they should.

 


Maximilian Von Poelnitz | Founder and Chairman, NOSH

Series A fund raise is always the hardest in Hong Kong.

It forces you to prove scalability outside of Hong Kong.


Brad Emery | Founder & CEO, Aimviva Travel Club

Cashflow [is our largest challenge in growing our business].

I don’t mind it coming from sales or investors but as we grow its a constant pain.


Kayley Lo | Founder, Justwork Hong Kong Limited

Hiring right candidate would be the biggest challenge to us – especially in my small company and our industry, 90% of companies in our industry engages partner with freelancer, part-time employee or external contractor.

 

Henson Tsai | Founder, Tasteout Group Limited
Fund Raising, recruiting the right people and generating leads all come after one thing – your product, and its market fit, and to us, it is certainly our number one challenge.

A good product is not just an idea – it requires numerous iterations of build, measure and learn cycle. We usually face some problems ourselves or because we’ve heard someone voice them to us, and hence we try to build something for the market. With that being said, there are endless problems worth solving so how does one identify the right one, especially in a saturated market?

The process of building a right product is a continuously tough process that every company faces, and yet it lays the foundation for your future growth. Sometimes you might even have to pivot and make a change, execute the plan with regards to the changing circumstances and taking care of the finance etc. But instead of coming up with a profitable business idea, the number one challenge comes to, are you building something that truly brings value and solves fundamental problems of the


Ray Wyand | CEO & Co-Founder, Gini

[The Hong Kong] Market is too small.

 


Jame DiBiasio | Co-Founder & Editor, DigFin Group

Revenue [is our largest challenge in growing our business in Hong Kong].

 


Christian Masset | Founder of Peak Communication, Peak Communication

Generating leads.

 

 

Matthew Li | Co-Founder, NOVA Group Limited
Find raising.

 

Albert Cheng | Manager, Jumpclick
Motivated individuals who want to grow a business and have the skill set

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