development it can build up a database with 1,935 applicants at any one time [2].
Financial viability
17
The Institute envisages that, in addition to the Hong Kong office, there should initially be one office in
office in Canada located in Toronto. Apart from the necessary operational expenses, staff costs and capital
and capital expenditure, the major item of expenditure would be promotional activities. Given the keen interest of the local media and the Institute's network of member companies, promotional expenses in Hong Kong could be limited to direct mail, and advertisements in professional journals and newsletters of chambers of commerce. In Canada, however, a more intensive promotional strategy is necessary, particularly in the early stages. There could be advertising in the chinese press and on chinese television, direct mail and toll-free incoming telephone lines, promotional activities such as exhibitions, seminars and speaking engagements involving the Institute's network of overseas members and Canadian-Chinese Chambers of Commerce.
18
On the basis of the market demand and the promotional strategies outlined in paragraphs 15 to 17, the Institute has produced an operating budget for the first three years. This is annexed.
Note [21
Of the 124,000 persons from Hong Kong who have taken up residence in Canada over the past ten years, 52% belong to the categories of independent applicants and assisted relatives who are susceptible to considering a return to Hong Kong. Assuming half of these, are of an age and educational level suitable for employment in Hong Kong, the potential market size is 32,240 (124,000 X 0.52 x 0.5).
The Institute's research on Canadian visas issued shows that the destination of about half of the emigrants is Ontario. Given these assumptions, IPM-Net's customer base is estimated as follows
a) Toronto, Ontario:
32,240 X 8%
2
=
1,290
b)
rest of Canada:
32,240 X
2
4%
645
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