Time is Indeed the Entrepreneur's Most Valuable Asset

Hong Kong is a speedy and highly efficient city where every (and I mean every) price you see is negotiable. In fact, our city boasts one of the lowest tax rates in the world - which is undeniably attractive to entrepreneurs. So naturally, it only made sense for us to build technologies to support that kind of environment.

I’ve worked for over a decade in Europe, the US and Asia within the international development space - and I’ve dedicated many years to building startups that help small businesses save time and money. The first one provided startups or larger firms with a full suite of admin, accounting and legal tools to power their local and regional developments. The second, a SaaS startup, was complementary to the first as it collects, manages and stores data for limited companies in Hong Kong.

During my time navigating the international development space, I realize that there was a gap in the Hong Kong market for an accessible, middle-of-the-road company secretary. What was currently available overwhelmed startups and SMEs with information, offering too many features for a high price tag.

To address this problem, I created my latest startup - which has my SaaS startup’s tech under the hood. ‘LCCS’ which stands for ‘ Low Cost Company Secretary,’is an affordable company secretary powered by SaaS (software as a service) which brings it into the 21st century. I’ll give you a quick idea into how it works: LCCS allows startups and SMEs to quickly incorporate a company that’s up-to-date with Hong Kong laws and regulations, while maintaining your statutory records automatically.

For those unfamiliar with what a company secretary does, I’ll give a brief intro: The company secretary handles the administration of a company in compliance with statutory and regulatory requirements. Their role is to represent the company on legal documents and help maintain all company records. In Hong Kong, private companies are required by law to appoint an individual as their company secretary, or hire a service provider to take on this role. This can be a bit of a headache for startups as they have might not have the money or time to bring on a company secretary, but they still have to be compliant with local laws.

This is where a tool like LCCS comes into play. After you enter in your information, confirm its accuracy and we’ll immediately issue company registry and inland revenue forms, as well as internal documents such as written resolutions and minutes. You’ll just need to print and sign. It’s a disruptive and user-friendly tool that allows you to access your web-based portfolio and allow others to view your records the way that you would ‘share’ a Google Doc.

As so many companies still keep their records in physical books and excel sheets, I cannot stress enough the time and money you will be saving by migrating everything into the cloud.
No matter how you slice it, there’s only 24 hours in a day - so there’s no point spending too much time and money on paperwork. Visit our website to learn more about LCCS!