Larry Harding, President of High Street Partners, says Hong Kong is the ideal base in Asia

High-Street Partners (HSP), a fast-growing United States advisory services provider, has helped numerous companies launch in Asia since it was set up five years ago. So when it came to choosing a base to spearhead the firm’s own expansion in the region, Larry Harding, HSP founder and President, knew Hong Kong would best meet his needs.

Mr Harding explained that Asia has been a major growth driver, propelling HSP to be one of America’s fastest growing private companies by revenue.

“American businesses have concluded that they can no longer rely on the traditional markets of North America and the European Union to fuel sufficient growth. Increasingly, they are looking to Asian countries, particularly the Chinese mainland, which is predicted to eventually become the world’s biggest economy. 

“However, these markets are not as easy for them to penetrate or understand. Our entire raison d'être is helping companies headquartered in the US and the United Kingdom expand overseas, especially in Asia.” 

Ideal Location

Hong Kong continues to be the ideal location from which to support the various financial, accounting and consulting services HSP provides in Asia, according to Mr Harding. Among its many advantages, he cited Hong Kong’s prosperity, long tradition of international orientation, excellent transport links and world-class infrastructure.

“The city also has a large supply of first-class professional talent, which makes it very attractive; they are highly educated, well-trained and fluent in English,” he continued. “Hong Kong has stable political and legal systems, a relatively low tax rate and a simpler tax system compared to other Asian countries. 

“We’re essentially taking our own advice here, as we encourage HSP clients to select Hong Kong as a gateway to the Chinese mainland. Hong Kong is a great location for setting up a regional hub, with a convenient time zone and proximity to other high-growth markets besides the mainland, including India and Vietnam.” 

Those reasons, Mr Harding said, make it important for HSP to be in Hong Kong. 

“Our plan is to become a world-class provider of compliance and consulting services to high-growth companies and leading universities operating in Asia. Anyone flying into the airport, or taking a look at the stunningly beautiful harbour, knows that Hong Kong is the city in Asia where world-class financial services firms are based.” 

Market-Driven Reasons

Mr Harding noted that, as traditional markets have slowed, there is more urgency to look to new markets, with the Asia-Pacific, as well as the BRIC countries of Brazil, Russia, India and China, specific growth markets. 

“Even though the number of US companies operating overseas might have decreased somewhat in the last year, there are still an extremely large number of prospective clients whom we have not reached yet. And though worldwide growth has slowed in certain markets, including China, the economy is still, in fact, growing, so there continues to be market-driven reasons why US companies will wish to expand there. 

“HSP has had the benefit of having a front-row seat over the past five years in seeing many companies open offices and hire personnel in Asia. We have seen what has worked, what has not worked, common pitfalls, how long to be patient, when to pull the plug, etc. With this perspective, we have been able to act as an experienced hand in providing helpful feedback to the clients we work with,” he said. 

Employment Solution

	“Things just work in Hong Kong,” says Delphine Arker, who heads HSP’s Hong Kong office

“We recommended that setting up a subsidiary in Hong Kong, serving as an Asia-Pacific employment hub, would best meet its needs. With this advice, the firm was able to meet its hiring objective, and was well-positioned for the significant growth it has continued to see in the region.”

HSP, which has helped nearly 200 companies expand overseas, has a network of offices in North America, London and, now, Hong Kong, employing more than 60 professionals.

Opened in March, the Hong Kong office is headed by Delphine Arker, Director, Global Services. Ms Arker agreed that Hong Kong’s strategic location makes it “a very interesting market, with great opportunities domestically and in other nearby countries.

“Hong Kong is a very practical city to live in, especially compared to larger capitals like London, where I lived for many years,” Ms Arker said. “Things just work in Hong Kong: you can be pretty much anywhere in under 30 minutes, and travelling from Hong Kong, whether for business or pleasure, is extremely easy.”

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High-Street Partners (HSP)