Business
Hong Kong Helps SME Business Worldwide To Survive After Post-Covid
With businesses being forced to close in response to the global pandemic, it has placed significant pressure on their survival. However, as borders close and COVID-19 reshapes the business landscape, many organizations are moving online, leading to an e-commerce boom. This has seen Hong Kong significantly benefit from these changing practices.
Since the outbreak began, there has been a large number of inquiries from companies looking to register theirbusiness online. Many people are now looking to open e-commerce businesses, with drop shipping allowing them to resell almost any product globally.
While Covid was first discovered from China, China has become the first to recover from the Pandemic. Many factories now have an abundance of products ready for shipping, giving companies the chance to buy at a very cheap rate and immediately start selling items on their e-commerce store.
During an interview with Brian Yiu, acompany formation specialist at Get Started HK, he mentioned that “Hong Kong has become a popular place for e-commerce. Many choose to register their companies in Hong Kong, so they can enjoy a better rate and margins when dealing with Asianpartners.”
In fact, the pandemic has given many entrepreneurs a big lesson. Once a city is under lockdown, businesses are forced to close. We should never put all eggs in one basket again.We must look into the Asian market and secure a reliable reserve back up supply chain. We should also target global clients and create additional sources of income.
In the post Covid-19 world, face-to-face contacts are no longer necessary for business. Online business will become the new norm. As the world begins to move back to normal and lockdowns ease, Hong Kong is in a unique position to be the epicenter for a re-globalization effect. More business will go online, and Hong Kong will probably attract more foreign SME businesses due to its strategic location. The city is likely to become the top e-commerce business hub in Asia sooner or later.
Business
Why Multi-Province Payroll Compliance Is the Hidden Challenge Canadian SMBs Face and How Folks Solves It
Byline: Shem Albert
Running payroll in Canada can feel like crossing a country stitched from many different fabrics. Each province weaves its own pattern of tax rules, leave policies, and benefit requirements, creating a landscape where a single misstep can ripple through every paycheck. For small and mid-sized businesses, the challenge often remains hidden until growth pushes hiring beyond provincial borders or brings remote workers into the fold. What seems like a routine back-office task quickly becomes a test of accuracy, timing, and local knowledge. This is the gap that Folks set out to close, offering a way for employers to navigate Canada’s regulatory patchwork without slowing their momentum.
Provincial Rules Add Complexity
Canada’s payroll environment varies sharply by province. Federal rules set the foundation, but provincial tax rates, deductions, statutory leave entitlements, and benefit premiums add layers of complexity that employers must monitor carefully. Small and mid-sized businesses with staff across provinces or remote employees face different tax tables, reporting deadlines, and leave calculations that directly affect pay accuracy and remittance schedules.
Folks built its payroll module to address these differences. The platform calculates the correct provincial tax rates and deductions for each employee, applying updates automatically so employers avoid misapplied withholdings or late filings. Multi-location tax management allows a company with workers in Ontario, Quebec, or several other provinces to process payroll without creating separate accounts for each jurisdiction. Bilingual functionality in English and French and secure Canadian data hosting support compliance while keeping employee records accessible across language and regional boundaries.
Unified Records Improve Accuracy
Payroll errors often stem from mismatched employee data. Changes in pay rates, banking details, or benefits eligibility may not align between HR and finance systems, creating incorrect deductions or delayed payments. Smaller teams juggling separate platforms spend valuable hours reconciling information instead of focusing on strategic work.
Folks resolves these issues by combining HR and payroll in one platform. Updates to wages, hours, or tax information entered on the HR side flow directly into payroll without re-entry. This single, verified record strengthens the accuracy of every payroll run and ensures employees receive the correct pay and deductions. By removing the need for repetitive administrative work, HR staff can redirect their time to tasks that support growth and employee engagement.
Automation Keeps Provinces in Step
Each province sets its own requirements for holiday pay, pay frequency, and statutory benefits, making manual calculations both time-consuming and error-prone. Businesses that expand or hire remote employees must keep pace with shifting provincial regulations or risk penalties and audit issues.
Folks address these demands with automation designed for Canada’s regulatory landscape. Pay statements, deduction calculations, and custom pay schedules follow the applicable provincial rules without extra configuration. The system’s automated updates mean that a company hiring staff in British Columbia or Quebec can meet local payroll standards without adding new layers of setup or monitoring. Employers gain the ability to expand into new regions while maintaining accurate, on-time pay.
Reporting Strengthens Compliance
Changing tax rates and reporting requirements require ongoing attention from HR and finance teams. Companies that rely on disconnected systems risk missing a provincial update or submitting incorrect remittances, which can lead to fines and interest charges.
Folks provides detailed reporting tools that compile payroll, deductions, and benefits information across all locations. Employers can generate clear remittance and deduction summaries, simplifying the process of meeting provincial filing requirements. For organizations that want additional guidance, Folks also offers a payroll management service that brings in-house specialists to assist with configuration, compliance, and regular updates. These reporting features help companies stay audit-ready and avoid costly compliance gaps.
Scalable Payroll for Expanding Businesses
Many small businesses begin in a single province, where local tax and payroll demands can be learned over time. Growth into new provinces or the decision to hire remote staff adds a level of complexity that manual processes cannot handle efficiently. Errors multiply, compliance risks rise, and payroll teams spend more time correcting mistakes than supporting expansion plans.
Folks provides payroll that scales with company growth. Provincial tax logic, automated deductions, bilingual support, and secure Canadian data storage are built directly into the platform. By maintaining an accurate employee record and applying province-specific rules automatically, the system allows Canadian SMBs to expand with fewer administrative surprises and more predictable payroll operations. Companies gain the stability of compliant payroll across provinces while controlling the time and costs that typically accompany multi-jurisdiction growth.
-
Tech5 years agoEffuel Reviews (2021) – Effuel ECO OBD2 Saves Fuel, and Reduce Gas Cost? Effuel Customer Reviews
-
Tech6 years agoBosch Power Tools India Launches ‘Cordless Matlab Bosch’ Campaign to Demonstrate the Power of Cordless
-
Lifestyle6 years agoCatholic Cases App brings Church’s Moral Teachings to Androids and iPhones
-
Lifestyle5 years agoEast Side Hype x Billionaire Boys Club. Hottest New Streetwear Releases in Utah.
-
Tech7 years agoCloud Buyers & Investors to Profit in the Future
-
Lifestyle5 years agoThe Midas of Cosmetic Dermatology: Dr. Simon Ourian
-
Health7 years agoCBDistillery Review: Is it a scam?
-
Entertainment6 years agoAvengers Endgame now Available on 123Movies for Download & Streaming for Free
