Restaurateur Michelle Garnaut found Hong Kong "a dream" for fulfilling her business ambitions. Photo credit: Wm Patrick Cranley

M at the Fringe, her original 1989 venture in Hong Kong's historic Ice House building, was critically acclaimed and several times voted "Best Restaurant in Hong Kong". M on the Bund in Shanghai, China, which followed in 1999, has earned a string of awards and unilateral praise including nomination as "one of the best restaurants on the planet" by prestigious Conde Nast Traveler Magazine.

When she moved beyond the kitchen to launch the 1930s Hollywood style Glamour Bar, also in Shanghai, in 2001, Ms Garnaut was hailed for reviving the elegant tradition of the cocktail hour. Now, as she prepares to open her third restaurant - this time in Guangzhou, Southern China - Ms Garnaut explains why Hong Kong was the best place to fulfill her entrepreneurial dream.

After arriving as a tourist in 1984, Ms Garnaut, a Melbourne-trained chef, decided to stay. She was soon taken on as second chef at celebrated Lan Kwai Fong restaurant Post '97.

Fantastic place for entrepreneurs

The Hollywood-style Glamour Bar in Shanghai, Michelle's "bar for grown-ups", is a sophisticated salon for live entertainment. Photo credit: Wm Patrick Cranley

Ms Garnaut then started her own catering, cooking class and consultancy business. Her restaurant M at the Fringe was a natural progression.

 "I started out with literally no money - just energy, an idea, and commitment," said Ms Garnaut, who was last year named joint winner of the American Chamber of Commerce Women of Influence 2003 Entrepreneur of the Year award.

"Hong Kong is a fantastic place for entrepreneurs, for a number of reasons. Firstly, it is not massively regulated - just enough so to ensure a good, trustworthy system.

"For setting up a company, Hong Kong is a dream. The government processes are simple and straightforward. People speak English, the forms are in English, and because of its colonial background there is this sameness in international trade.

"Another reason is that Hong Kong is a city that lives on its risk-taking. People are prepared to take risks; they are willing to back ventures. Hong Kong is also a very open place, and not restricted by social mores. It is a place where people are willing to try new things - and very different to some other countries, such as Australia, where the regulations are a nightmare.

So easy to do business

"The other great thing about Hong Kong is its tax structure. Taxes are low, so you get to keep most of what you earn, but most importantly they are also straightforward. The whole system is set up for ease of doing business - this has always been Hong Kong's raison d'etre, and continues to be so today."

Ms Garnaut, who has also lived and worked in mainland China, says that if starting over again today she would still choose to live in Hong Kong.

"Hong Kong has a Western standard of living - that's what it has always offered to people coming here from all over the world. It is not as polluted as cities in the mainland, and is much more varied, with so many beautiful natural attractions."

For anyone wanting to do business in China, Ms Garnaut says Hong Kong is still the ideal platform. Having a Hong Kong base has helped her understand the Chinese culture, and how important business relationships are.

"Hong Kong is a place where hard work pays off. I'm committed to working hard, and believe that I'm smart enough to make things work. Anyone who is passionate about what they do will find in Hong Kong all the factors to make it happen."

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