Starting CPA Firm | Insights and Strategies by Manson C Blog

About Me

Manson is currently an accountant in Hong Kong, with nearly 20 years of experience. His services include company formation, bank account opening, accounting, auditing, and tax consulting.

Work Experience Sharing

2001-2005 Certified Financial Planner

After graduating from university, I embarked on my career in wealth management during Hong Kong golden age. The role offered me the chance to quickly gain professional qualifications and deepen my understanding of wealth planning. While I enjoyed meeting diverse clients and learning to navigate rejection, I ultimately realized that sales my strength. This experience taught me valuable lessons, prompting to seek a career that aligns more closely with my personality and skills.

2006-2020 Certified Public Accountant

Dedicated Certified Public Accountant with extensive experience in the accounting from 2006 to 2020. With a academic background in accounting, I swiftly obtained my qualification and have worked with various firms, honing my professional knowledge and real-world skills. My diverse has equipped me with the to effectively manage client relationships and navigate business challenges, preparing me to my own accounting practice.

2020-2025 & go on Running Own CPA Firm

In the years beyond 2020, I embarked on an unexpected journey of self-employment by launching my own CPA firm. This transition required a significant shift in mindset, as I realized that the difference between being employed and self-employed lies in the approach to challenges and opportunities. Through dedication and hard work, my business began to flourish after a couple of years, leading to substantial improvements in my personal and professional life I firmly believe that hard work, accountability, a commitment to sharing knowledge are essential for building trust with clients, which is vital for long-term professional relationships.

2025 - to be continued a Blogger

In 2025, I envision a future filled with endless possibilities and new paths as a Blogger. Each day, I share my insights and experiences with clients and aspiring individuals, connecting with a refreshed audience through innovative channels. I firmly believe in the power of continuous learning and embracing new adventures to turn dreams into reality. With unwavering determination, I encourage myself and others to keep moving forward, ready to explore what lies ahead.

Manson C Blog

This blog is a channel for Manson to share his thoughts. The content is about his professional knowledge and experience, which he shares with entrepreneurs working hard on their businesses.

Entrepreneurship

Starting a business is a unique journey. Whether a company has one person or thousands, they often face similar experiences. There is no textbook on how to become a businessperson; people usually learn from successful individuals. What should we learn from successful bosses? Attitude, principles, industry choice, unique vision, team building, efficiency methods, social skills, or the philosophy of being quick and decisive? There are many areas to learn from. However, Manson focuses on "how to structure a company" to maximize its benefits, which is the ultimate goal in a capitalist society. In short, each country's laws (mainly tax laws) and trade partner regulations influence company decisions. A common example is where to set up a factory, often decided by tax reasons. The reason is simple: money.

Changes in International Trade and Business Environment

Over the past decade, the international trade and business environment has undergone significant transformations due to technological advancements, geopolitical shifts, economic policies, and global crises like the COVID-19 pandemic. Here are the key changes:

1. Rise of Protectionism and Trade Wars

US-China Trade War (2018–Present): The Trump administration imposed tariffs on Chinese goods, leading to retaliatory measures. This disrupted global supply chains and increased costs for businesses.
Brexit (2020): The UK’s exit from the EU introduced new trade barriers, customs checks, and regulatory divergences, affecting businesses in Europe.
National Security Concerns: Countries like the US, EU, and Japan tightened export controls (e.g., semiconductor restrictions on China) and foreign investment screening.

2. Major Tax Reforms Impacting Global Business

US Tax Cuts and Jobs Act (TCJA, 2017): Reduced corporate tax rates from 35% to 21% and introduced territorial taxation, encouraging repatriation of overseas profits. It also imposed new rules like the GILTI (Global Intangible Low-Taxed Income) tax, affecting multinational companies' structures.
OECD BEPS Plan (2013–Present): The Base Erosion and Profit Shifting initiative aims to combat tax avoidance by multinational corporations through measures like country-by-country reporting and stricter transfer pricing rules.
OECD Global Minimum Tax (2021): Over 130 countries agreed to a 15% minimum corporate tax rate to prevent profit shifting to tax havens, reshaping how multinational firms structure their operations.

3. Supply Chain Reconfiguration

Pandemic Disruptions: COVID-19 exposed vulnerabilities in global supply chains, leading to shortages (e.g., semiconductors, medical supplies).
Nearshoring & Friendshoring: Companies are shifting production closer to home (e.g., US firms moving from China to Mexico, EU businesses relocating to Eastern Europe).
Diversification: Businesses are reducing dependence on single suppliers (e.g., "China+1" strategy).

4. Digital Transformation & E-Commerce Boom

Cross-Border E-Commerce: Platforms like Amazon, Alibaba, and Shopify have enabled SMEs to trade globally.
Digital Payments & Cryptocurrencies: Fintech solutions (e.g., PayPal, blockchain) have streamlined international transactions.
AI & Automation: AI-driven logistics, smart contracts, and blockchain are improving trade efficiency.

5. New Trade Agreements & Regional Blocs

USMCA (2020): Replaced NAFTA, introducing stricter labor and digital trade rules.
RCEP (2022): The world’s largest trade bloc (China, Japan, ASEAN, etc.) boosting Asia-Pacific trade.
African Continental Free Trade Area (AfCFTA): Aims to create a single African market.

6. Sustainability & ESG Focus

Carbon Border Taxes (EU CBAM): The EU is imposing tariffs on high-carbon imports, pushing firms to adopt greener practices.
Circular Economy: More regulations on plastics, recycling, and sustainable sourcing.
ESG Investing: Companies face pressure to align with environmental and social governance standards.

7. Geopolitical Tensions & Fragmentation

Russia-Ukraine War (2022–Present): Sanctions on Russia disrupted energy, food, and commodity markets.
US-China Decoupling: Tech bans (e.g., Huawei, TikTok) and restrictions on critical minerals.
De-Dollarization Efforts: Some countries (e.g., BRICS) are exploring trade in local currencies to reduce USD reliance.

8. Regulatory & Compliance Challenges

Data Privacy Laws (GDPR, CCPA): Stricter rules on cross-border data flows.
Forced Labor Bans: US (Uyghur Forced Labor Act) and EU regulations affecting supply chains.
Sanctions & Export Controls: Increased enforcement on Russia, Iran, and China.

9. Pandemic & Post-Pandemic Shifts

Remote Work & Digital Nomadism: Businesses operate with global remote teams.
Resilience Over Cost Efficiency: Firms prioritize risk management over just-in-time supply chains.

Conclusion

The past decade has seen a shift from globalization to "slowbalization," with more regionalization, digital trade growth, and geopolitical risks reshaping business strategies. Major tax reforms (TCJA, BEPS, global minimum tax) have also redefined corporate structures, while supply chain disruptions and sustainability demands add further complexity. Companies must now navigate protectionism, tech disruptions, and regulatory changes to remain competitive.

Manson's Audience

Manson is eager to share his insights with readers beyond Hong Kong, recognizing the city's impressive achievements in finance, international trade, and professional services the past 30 years. However, he believes his articles can offer significant value to business professionals in emerging Asian markets like India, Vietnam, the Philippines, and Indonesia. With a focus on these regions' economic potential, Manson invites readers to take a few moments to explore his, hoping to inspire inform their business ventures.