Peter Forsythe could not have predicted the success he's achieved with his English language school, the Wall Street Institute

A business set up to teach English language in Hong Kong has succeeded "beyond our dreams", according to its founder Peter Forsythe.

Originally Mr Forsythe, a former Hong Kong-based diplomat, considered buying a business in his native Australia. But after looking at many businesses and having one deal fall through due to Australian capital gains tax, he shifted his focus back to Hong Kong.

He set up a small consultancy and then bought the Hong Kong franchise for the Wall Street Institute School of English, a leading-edge system for teaching English.

Established in early 2000, the business has thrived. His company is now the largest private teacher of English in Hong Kong, with almost 6,500 students in five centres and some 120 staff.

A sixth centre is on the cards soon, possibly in Sha Tin. The institute is a finalist in the Australian Chamber of Commerce's annual awards for Australian businesses in Hong Kong.

"The business has succeeded beyond our dreams," Mr Forsythe said. "Our centres are about three times bigger than we thought, and we are doing four times the turnover that we projected."

The Wall Street Institute's English teaching system involves a combination of computer-based interactive teaching, using voice recognition, and face to face teaching. Students come into the centres in their own time, working at their own pace. The centres also run informal chat sessions in the evenings to help students practice their English.

Skills boost career prospects

Mr Forsythe says most of his students are women in their 20s and 30s who realise the importance of English in their careers. Most begin the course with a small to intermediate level of English, but within a year are speaking it fluently.

He estimates the company has helped more than 7,000 students in Hong Kong so far, improving their lives and career prospects.

"Hong Kong is a key international business and financial hub. Trading is our main source of wealth. To do that well you simply must be able to communicate effectively in English.

"English is the global language - the key to the best jobs and the highest incomes in the world."

Apart from looking at new centres in Hong Kong, Mr Forsythe plans to expand the business into Japan early next year, using Hong Kong as a base for training staff.

After working in Asia for 27 years, Mr Forsythe found Hong Kong an ideal place to set up a business.

"We love the efficiency of Hong Kong, as well as its centrality. You can hop up to China, or over to Europe and Japan. And Hong Kong is very friendly towards business."

He describes Hong Kong's low and simple tax system as another major attraction, its rule of law "precious", and the transparent legal infrastructure as "a huge advantage".
 
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