Hong Kong may be a smaller version of China, but it definitely boasts of a more efficient government and friendlier business policies and tax system. Many investors and entrepreneurs from abroad and mainland China see Hong Kong as a land of opportunity.
With its bustling urban life, cultural and tourism hotspots, retail centres and great infrastructure, Hong Kong is leading in terms of innovation and technology in the Asia-Pacific region. It is a competitive city along with Singapore and Tokyo.
Most notably, Hong Kong’s government and entrepreneurial culture are pretty supportive when it comes to startups. Grants and tax deductions are offered to startup companies that are still trying to establish a name in the industry. InvestHK, a government-funded program, even reaches out to entrepreneurs in foreign cities to encourage investments in Hong Kong.
With startup companies, techpreneurs and skilled professionals coming over the city, Hong Kong assures that there are enough office spaces available to fit every company’s needs – even for small companies and startups!
Naturally, startup companies are inclined to go to coworking spaces as they are the most affordable and convenient option. With a coworking space, founders won’t have to worry about providing desks and office equipment for a small team of employees, since most of these spaces are furnished already.
The city does have a slew of coworking space options over the past few years. Here are three of the most noteworthy ones:
WeWork is a popular name all across different cities around the world as it is a network of coworking spaces and serviced offices already. It also established its presence in other major Chinese cities – particularly Shanghai and Beijing. It also has coworking spaces in Australia, Canada, Germany and the UK, among others. WeWork is in fact, an American company, and it has coworking office spaces in Los Angeles, Miami, San Francisco, New York City and other major cities in the US.
In Hong Kong alone, WeWork has two coworking spaces – one located in Causeway Bay, and another in Wan Chai. It had quite a grand welcome in the city due to its partnership with HSBC, which rented out 300 desks for its digital team.
Like most coworking spaces, WeWork comes in an Instagram-worthy interior design. Its walls are lined up with local art and music is also blasted from centralized speakers. Lessees can also get to have unlimited, free coffee and tea all day. They also have draught beer available for those who need a drink after work hours.
However, WeWork is also known to be quite pricey. Desks are leased out at HK$5,600 a month – not exactly a budget-friendly price for startup entrepreneurs. This membership however gives you access to its network of coworking spaces across the world.
That includes Beijing and Shanghai, several cities in the US, and many other major cities in Europe and Asia. Essentially, it may not be ideal for the starting entrepreneur, but it could suit entrepreneurs who are quite established, but had to make frequent trips to attend business dealings and meetings in a different city (without the added worry of maintaining several office spaces in every city).
The Hive is yet another popular coworking space in Hong Kong, and it is pretty evident because of its numerous locations. The Hive has four coworking offices in the city – one each in Wan Chai, Kennedy Town, Sai Kung and Central.
At first glance, The Hive is basically almost the same with every other coworking space – hip and trendy interior design, free coffee and tea, and inviting work desks. However, it actually has a more customized venue for those in the art and design industry, and for those who are into agri-tech.
MakerHive is The Hive’s personalized workspace for designers and creators in the city. It provides an artist’s workshop and a traditional work desk where artists and clients can collaborate and exchange ideas.
The Hive Co Farm on the other hand is perfect for small teams and companies who dabble in green technology or agricultural technologies. It has an area for experiments and research, plus they maintain an actual farm in Yuen Long for researchers to use.
The Hive charges HK$2,800 for a hot desk, and HK$300 for a one-time day pass. It also has a dedicated desk which starts at HK$5,000 and a private office space that starts at HK$7,000.
Paperclip is the only coworking space in this list that only had one location so far, and that is in Sheung Wan. Despite only having one location, it offers a rather unique environment from the previously mentioned coworking spaces too.
Paperclip is more of like a “startup ecosystem” where people don’t just come to work, but they also come in to learn and mentor as well. It holds events, workshops and short courses to keep freelancers and entrepreneurs informed about new tech and trends in the market that can help improve their model.
The best part is, Paperclip is open all week for 24 hours each day. This is perfect for freelancers who have irregular work hours or those who are simply more productive throughout the night.
Hot desks starts at HK$2,600 per month, and the management can also give out a free trial for anyone who’s interested to experience the place.