Direct exports and sales Direct export means supplying your products /services directly to the customer and involves you taking care of the logistics of marketing, selling, sending overseas and getting paid. You also have the option to use local representation, for example by using an agent, distributor or wholesaler. To help you to identify local representatives in Hong Kong, contact a specialist trade adviser at the Department for International Trade (DIT) at: https://www.gov.uk/overseascustomers-export-opportunities. Online selling The Department for International Trade (DIT) can help you export your goods to Hong Kong through the E-Exporting programme. Find out more at: https://www.gov.uk/ guidance/e-exporting. DIT has also negotiated listings at betterthan-commercial rates. See online marketplaces in Hong Kong at: https://www. great.gov.uk/selling-online-overseas/. Franchising Hong Kong is the top shopping destination for over 56 million global visitors. For information on franchising, visit the Hong Kong Franchise Association site at: http://www.franchise.org.hk/en/index.html, the Macao Trade and Investment Promotion Institute (IPIM) at: https://www.ipim.gov.mo/ en/services/business-development-services /business-opportunities-informationdevelopment-services/franchising/ and the international section of the British Franchise Association website at: http://www.thebfa.org /international. [Source – InvestHK, Macao Trade and Investment Promotion Institute (IPIM), Hong Kong Franchise Association, British Franchise Association]
Financial considerations Getting finance to fulfil an export contract Globally, Hong Kong ranks 4th out of 190 economies in the World Bank’s ‘Doing Business – Ease of Getting Credit’ report 2019. See: http://www.doingbusiness.org/en/data/ exploreeconomies/hong-kong-china. There are schemes available to simplify the growth of your business and to fulfil an export contract, for UK companies that wish to sell products and services to Hong Kong. Contact your bank or financial adviser for more information about any current schemes. Payment risks UKEF helps UK companies to get paid by insuring against buyer default. You may have difficulty accessing foreign exchange. Be confident you will get paid for your export contract. Speak to one of UKEF’s export finance advisers at: https://www.gov.uk /government/publications/find-an-exportfinance-manager for free and impartial advice on your insurance options, or contact one of UKEF’s approved export insurance brokers at: https://www.gov.uk/government/publications /uk-export-finance-insurance-list-ofapproved-brokers/export-insuranceapproved-brokers. Transferring money By offering a highly transparent and robust regulatory regime for financial service industries such as banking, securities and insurance, Hong Kong has long been the region’s leading financial hub, adhering to the best global practices and giving confidence to all those looking to do business there. [Source – DIT, UKEF, gov.uk, InvestHK]
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