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HSBC Private Banking identifies key business solutions for female entrepreneurs in Hong Kong to thrive in times of Covid-19

December 8, 2020 Financial No Comments Email Email

HSBC Private Banking gave a boost of confidence to female entrepreneurs in Hong Kong during the Covid-19 pandemic, as the week-long digital summit FoundHER, held in partnership with AllBright, concluded successfully. The summit, which gathered successful female founders and investors in town, sought to unite and build a strong business network that enables entrepreneurial success.

The Hong Kong series was convened between 16 and 19 November to tackle challenges female entrepreneurs encounter during times of adversity. The event was tailored to provide practical and timely advice on making a successful virtual pitch; insights from experienced angel investors, business leaders and wealth management experts on new investment opportunities; and real-time consultations on business pitches.

While investors are more stringent in their assessment of a firm’s business model and medium term growth potential during the Covid-19 pandemic, Fan Cheuk Wan, Managing Director and Chief Market Strategist for Asia, HSBC Private Banking, said, “We observe equally strong interests shared by private investors who are looking for innovative, sustainable investment solutions and business opportunities that will emerge robustly after the pandemic.” She added, “Female founders, especially those at early-stage startups, should stay highly adaptive and responsive to the rapidly changing world. By staying on top of the latest global and industry trends, they can build more robust and resilient businesses. Sustainable business models for startups can be more successful in convincing investors during fundraising, despite external challenges and a lack of track record.”

Echoing these views is Veronica Chou, a well-known female investor, and founder of Everybody and Everyone, a sustainable and eco-innovative womenswear brand. Chou shared that constant communication and risk aversion are keys for her brand’s success. She said “The one thing we all need to do more of is to connect and learn from other industries and even competitors.” She stressed the importance of collaborating with the industry, communities and society at large, to address the growing need for more sustainable and innovative business practices following the global pandemic. Heeding these calls in advance would help protect one’s business, especially during challenging times.

The FoundHER series has proven to be a meaningful and purposeful networking event at a time where the pandemic has severely hit growth plans of female founders across the city. HSBC Private Banking takes an active and functional role in enabling access to experts who can guide and support entrepreneurs, to help them grow their business and connect them to a variety of opportunities within its network.

Cynthia Lee, Regional Head of Wealth Planning & Advisory, Asia Pacific , said, “We are well-placed to push forward our efforts in supporting Hong Kong’s female entrepreneurs, as we partner with AllBright for the second consecutive year. The digital summit underscores the value and power of networking, to constantly bring in fresh ideas and lessons from sustainable and successful business models. We believe the programme will prepare female founders and enable them to thrive when new investment opportunities arise from the post-pandemic global recovery.”

Debbie Wosskow OBE, co-founder of AllBright said, “What we are doing with HSBC Private Banking is pivotal to create a format where every woman can pitch the investors skillfully and confidently. While many firms found it hard to navigate their business during the pandemic, FoundHER offers female founders abundant toolkits and industry insights from the global women community.”

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