1. When is does the application open deadline?
Our application is open every year in August.
2. How long will does the program last?
The program is normally last for 9 months, from September to May every year.
3. How many cohorts do you run each year?
Once a year.
4. How many fellows do you admit in the program?
We prefer a smaller group of 10- 20 fellows with, more interactions during the program.
5. Will I receive a certificate after completing the program?
Yes, you will receive a certificate after completing the program with 80% of lessons attendance.
6. What happens after the program ends?
Fellows will automatically join the alumni network to join the community with Hong Kong Momtrepreneurs community and receive supports from members and mentors.
7. How much is the program?
Program fee is $4,800 or conduct 15 volunteering hours.
8. Who can be a fellow of your program?
Stuck-aAt-hHome mothers and mothers who want start up business.
9. What language will be spoken in the lessons? Is there any language support if I don’t speak English or Cantonese?
We conducted our lessons bilingually in English and in Cantonese, depending on the instructor’s native language. Simultaneous interpretation will be provided upon needs.
10. Where will the lessons take place?
We will conduct our lessons at Dream Impact in Lai Chi Kok.
11. Who will teach the program?
Our lecturers come from a diverse background of fields, such as business consultants, corporate trainers, solicitors, psychologists, and more.
12. Will I receive a funding for my business through the program?
We will provide support and advice to where you can seek funding. The program itself does not provide any funding.
13. What should I do if I am unable to attend a class due to personal reasons?
You can inform our program leader and review the playback and & presentation slides.
14. Can I take my kids to attend the class?
Yes, there is children side program (for children aged 4 years old or above_ to take care of kids when fellows are attending in class.
15. I have no work experience, should I apply?
16. I’ve already started my business, can I still apply?
17. I am an ethnic minority, can I apply?
18. I am a foreign national, can I apply?
19. I only have a high school education, should I apply?
20. I am a stay-at-home mom, should I start my own business?
Starting a business in Hong Kong is very easy. You can start a business from home and conduct all the business activities online. The Moms4Moms Fellowship Program has lessons which take you through the steps.
21. I don’t have much savings, how much is needed to start a business?
It depends on your business nature and operating cost, but you should also do a proper financial budgeting before investing time and money into your business.
22. Can a hobby be turned into a business?
Yes, you can, but you need to conduct more market research to proveof the business is viable and profitable.
23. Should I start an online business or open a brick-and-mortar shop?
It depends your business nature but nowadays it is much easier to start an online business. Many start ups began with online shop before opening their first shop.
24. How to come up with a viable business idea?
At Moms4Moms, we offer design thinking workshop to guide you through the steps to validate your business idea
25. How do I incorporate a company in Hong Kong?
Setting up a company in Hong Kong is relatively simple! You should visit this website to submit an application after you choose the type and name of company. Processing Time are normally within a few hours if applied online.
26. Is it a must to have a Business Registration?
We strongly encourage you to do so! The Business Registration Certificate is an important document when applying for government funding and can be used as a tax deduction for business operating expenses.
27. Should I register my company as a limited or unlimited company?
Both have their merits. A limited company requires an annual audit by an independent accountant, whereas an unlimited company does not require an auditor’s report and the tax rate is lower, but the business owner has to deliver all company liquidations in his own name.
28. Should I start a company independently or with a partner?
Depending on your needs, a sole proprietorship provides better control of the business at the beginning, whereas aA partnership requires finding the right people who share a common business vision and combining the strengths of each.
29. Do I need to consult an accountant or auditor if I want to put up a business?
Keeping good financial record is essential to your business. As the business begins to have transactions, you need to have proper bookkeeping and hence by year end you may need to consult an accountant. If you are running a limited company, you need to hire an auditor to conduct annual audit for the company.
30. Should I to hire employees for my company?
When the company is operating with a steady revenue stream, you can begin to consider how many additional people and job types the company needs to hire, and what specific tasks the positions need to accomplish.
31. How to handle legal documents to fulfil compliance?
Our network of experts will provide free initial legal advice based on your needs.
32. How to bring in new customers and businesses?
You can participate in trade shows and industry events to market your business, find business partners, and expand your network in the industry. Getting accreditation for your company is a good way to increase recognition.
33. What platforms or distribution channels can I use to promote my products?
For online promotion, your own business social media pages such as Facebook, Instagram and LinkedIn would be a good starting point. However, it would still be important to have your own website. There are also many bigger retail online platforms which you can apply to distribute your products but you need to pay commissions. For offline promotion, there are many channels such as trade shows, pop- up events and some retail shops which you need to pay at least 40-50% margin even if they are on consignments. It depends on your products and services, there are many options you can choose from