Embarking on setting up a new business is as equally as exciting as it is challenging! Once you have incorporated your business, you then need to look at getting access to financial services.
For years, Corporate Hub has been working closely with Neat to provide our customers with a fast and efficient solution to a vital part of setting up a business in Hong Kong – securing a reliable payment service all available under one Neat account. It includes a Neat dashboard, multi-currency wallets, easy payments and a Neat Visa card.
Neat is a fintech based in Hong Kong and was built for the new economy – where borders are disappearing, and it is easier than ever to start a global business. In this article, you will learn how you can grow your business by utilising Neat.
We have outlined five ways you can do this. Let’s start with the online experience.
#1 Sign up and manage your Neat account completely online
Unlike many other financial service providers in Hong Kong, you can sign up to Neat entirely online. This makes it easier for you when setting up your business with no branch visits or the need to show any documentation in person.
The sign-up process should take you about 15 minutes to complete. Once your application is approved, you can then manage your Neat account via your personalised dashboard from your laptop! Neat also provides 24/7 support through online chat and email. Managing your Neat account online will save you time and energy so you can focus on other parts of your business. You can sign up here.
#2 Have customers globally: Choose your currency wallets
So you have signed up for Neat, and your application has been approved! Great! Businesses now are more global by nature, with customers and suppliers all around the world.
When it comes to international trade and business, the US dollar is the most widely used currency. Neat caters to collecting payments locally or internationally. With Neat, you can choose from four currencies, including HKD, USD, GBP and EUR. It gives you the flexibility you need with customers globally.
You can either set these wallets up once you have completed the sign-up process. They are ready to go when your application is approved, or you can wait and choose when you log into the Neat dashboard. But having payment instructions in these four currencies also makes it easier for your customers who, for example, may be based in the UK and want to pay you in GBP as opposed to HKD.
Alternatively, you may not be at a stage where you need these different currencies. You may just need to collect funds locally in HKD – Neat has you covered for that too! Either way, the flexibility is there for you and your business.
#3 Need to make payments to suppliers globally?
Having flexibility with your business means that you can also have suppliers globally. With your suppliers located around the world, your access to products and services increases. In the global environment we live in now, you will need a provider that allows you to make international payments.
With Neat, you can make payments to over 35 countries – all listed here. The countries you can make payments to will differ depending on the currency you choose to use. The Neat dashboard also allows you to store multiple payees, so you won’t have to re-enter the details every time you need to pay that supplier.
#4 Simplify your bookkeeping by integrating your Neat account with Xero
When you are starting a new business, there are always so many things to think about. Bookkeeping is one of those that has to be done but often gets forgotten. As Neat was built for entrepreneurs and small businesses, they understand some of the challenges business owners face.
Neat has an integration with Xero that will sync hourly with your Neat account. This will help make bookkeeping easy and allow you to spend less time on the admin’s side of the business and more time on acquiring customers.
#5 The Neat Visa card for your marketing spend
So you have signed up to Neat, you have chosen your currency wallets, can make payments globally, and have integrated with Xero. Now you need to think about how you can pay for marketing spend or business expenses in general.
When you start to think about how you will build your customer base, this will require marketing in a variety of ways. Having an expense card that you use just for marketing spend will help keep your expenses in check. The Neat Visa card allows you to have an HKD physical and virtual card to manage these expenses. USD cards are also on the roadmap for Neat.
If you have any additional questions, please feel free to contact us.