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Trading is a business where businesses sell different forms of goods and service-based products to customers in small or large amounts. Today, companies mainly specialize in a specific type of product and sell them both to businesses (B2B) and individual customers (B2C). The companies can vary in size, and some are run by just one person. The customers can be big retailers or small shops. In this information age, access to valuable data is essential for success. Regardless of the type or size of your business, ERP software could prove...

Managing money can be challenging when running a business. It’s important to have a budget and plan out how you’re going to spend your money. But it can be even more important to use that budget in a way that maximizes your business opportunities. So be sure to think about your spending as you plan for the future. Without good planning, it will be impossible to grow your business. Businesses that are growing or may grow in the future should consider implementing an ERP system. ERP systems help companies by...

“I want to discuss my management theme for 2023, which is the year of efficiency.” – Mark Zuckerberg, Chief Executive Officer at Meta Platforms Inc. Meta is laying off numerous workers to hedge against economic instability. Meta has embarked on a cost-cutting and efficiency drive, which includes slowing hiring and canceling some projects. Zuckerberg dubbed the initiative “Year of Efficiency.” Businesses have a strong incentive to find ways of cutting costs without sacrificing the quality of their products or services. Is 2023 Your Year of Efficiency for your Business in...

At a time when the workforce is shrinking, in a bid to cut costs, human resource management is a challenge for enterprise in Hong Kong. For example, Facebook’s parent company, Meta, has laid off numerous employees and closed many open positions, Alphabet, Google’s parent company announced it would lay off 12,000 employees, etc. When businesses lay off several employees, the remaining workers are often forced to take on additional responsibilities. The retained employees will have to face an increased workload. In a stressful work environment, employees are not able to...

The catering and hospitality industry in Hong Kong — which includes restaurants, takeout, vending machines, bars & taverns as well as fast food chains — is full of twists and turns. For F&B owners, a successful operation depends on making the best use of time, money and other resources. As consumer preferences continue to change and economic conditions shift in Hong Kong, staying ahead of the curve in this industry requires a deep understanding of what consumers are looking for. In order to succeed in this industry, you need to...