China is one of the world’s biggest economies and is forecast to one day over-take America as the number one. This is born out of a big rise in the consumer markets, mixed with a huge population and rising middle class – as well as an increase in their global exports.
As such, this makes China a fantastic business opportunity for those looking to expand and start working overseas. However, with this in mind it’s fair to say that this nation does have obstacles you need to overcome before you can successfully work here.
So, to make this a little clearer, take a look below to find out some useful tips and advice for doing business in China.
To start you should be looking to make connections with other Chinese businesses, as a local partnership in your targeted area can be an invaluable asset. These groups or people can then offer you advice on everything from which markets are viable, to which people in their network can help you with your endeavours.
To facilitate this, attend trade fairs in China to meet and greet, or carry out an email or LinkedIn networking strategy.
Appreciate the Business Culture
If you’re based in the UK or Europe, you’ll have certain business customs you’re used to; China has its own way of doing things. For example, it’s customary in China to be quite forthright and prompt during business meetings, yet also show respect for elders, be patient and modest. In other words, you need to appreciate the situation you are in and act accordingly, otherwise you may cause offence.
Use External Expertise
If needs be you should seek external help and expertise to help you out. Along with your local experts, you can acquire the services of a translator, or perhaps a China-based web-designer, or even an international delivery expert to manage your supply chain. With the latter, you can save yourself the time and effort of dealing with customs and restrictions by leaving this in the hands of the company you choose – just make sure it’s a firm that works with China, such as Parcel2Go.
Tailor your Product/Service
A final consideration is how your product or service appeals to your target audience. The Chinese markets can vary from region to region, so again research is key here, as are your local experts.
Once you’ve got some of the above sorted you should be on your way to a potentially rewarding partnership with China. Then, over time you could see your business grow and realise similar success to this nation.