Heading the cloud: Google says now is best time to launch a start-up in Asia due to low IT costs and broad adoption of mobile devices

Low capital requirements, advanced technology and the widespread use of mobile devices make launching a new business far easier than ever before, according to a senior executive at Google.

The Greater China region including Hong Kong and Taiwan shows great potential due to the high penetration rate of smartphones, which mean that many transactions can be done within just a few clicks, said Kevin O’Kane, Google’s managing director for small and medium business in the Asia-Pacific region.

“The internet has opened up a whole host of opportunities for new businesses. It’s far easier to ‘set up shop’ online,” said O’Kane, a former senior executive at Dell.

The internet “has dramatically reduced the start-up capital required and has levelled the playing field in terms of finding and serving customers, not only around the corner but around the world - something that was nearly impossible for all but the largest global businesses just a few years ago,” he added in a recent interview with the South China Morning Post.

In China, Premier Li Keqiang has called on “everybody to innovate and start your own business”, partly due to growing pressure on Beijing about how to transform its economy from a labour intensive and export-focussed one to a more digital and innovation-driven model.

Meanwhile, from local coffee shops to airport booths, Hong Kong has seen a start-up frenzy this year, especially among the more ambitious and digital-savvy younger generation.