China, Business, Start a Business, Market Research
First step to start a business in China, market research.
You have heard about how the Chinese economy is exploding. Despite the recession in other economies, the Chinese economy is still seeing positive growth. The Chinese have 1.3 billion potential consumer. 80% of foreign companies in China are profitable and 50% are more profitable than in their home country. All of these are attractive reasons to consider doing business with China.
Once you have decided to consider doing business with China, where should you start? The first place to start is doing some research, market research. No reason to be intimidated by that work market research. Starting with a simple Google search qualifies. This is the first step that most of us are going to do anyway. Some simple searches to find other business or partners that are in our industry and possibly doing business with China.
After doing some basic online searches, it is time to get more serious. It is difficult to find a single successful business person that is doing business with China that hasn't been here, and probably continues to visit here at least once a year if they are not living here. This is the key next step to doing market research to find out more about the opportunities in China. Take a business trip to China.
This business trip, should have in mind doing activities that can provide more information about the business environment here, so things like going to tradeshows, confereneces, company/factory tours, and meetings with other professionals in your industry or that you could partner with should be the focus of the trip. Doing some sightseeing is also great, just make sure that most of your time is spent thinking about how you can do business here.
You can search online for companies that offer this type of group tours. Feel free to also send me an email and I can help you find this type of tour, or arrange one for you to help find activites that fit your industry and setup interpreters and other accomodations.
Whatever you decide to do, I hope you will drop me a line and we can meet up when you come through Beijing.
Steve
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