In recent years, China has successfully gained outstanding global economic appeal. Consequently, cross-border businesses are rapidly increasing in China more than any country. Thanks to its delightful business climate along with the abundant benefits that come with it, China offers a great platform for both local and international investors to explore the latest industrial trends, intelligence and insights.
The explosive business idea has been massively embraced in New Zealand. In hindsight, however, since everyone is rushing in to set up in China, stability and reliability is not assured. A well thought strategic plan to weather the risk factors is essential. Below is a four-step guide on how to do business in China for New Zealand investors;
1. Do your research
Embarking on cross-border business is certainly not business as usual. Given China’s cultural complexities, language barrier and most notably the changing business environments, it is imperative to establish the right presence. Before making any decisions on establishing partnerships, outsourcing products, importing and wholesale strategies, you best verify the details.Since the carrying out due diligence is an entirely delicate process, it is vitally important to seek professional advice.
2. Choose a location
China’s sheer size undoubtedly sparks interest to foreign investors. A word of caution however, there are significant divides in the regional economy that can impact your business. Finding a destination beyond the major issues such as labour quality, overall costs and geographic accessibility, discerning a place that conveniently suits your business venture is key to successfully doing business in China.
3. Play by the rules
As with any country, rules and regulations of various forms exist, aiming at protecting the healthy development of both local and international industries based in the region. It is critical to understand what documents are required for your specific category of venture. Since the regulatory environment is on constant change to keep up with the rapid evolution of business, having the experts on the lookout is highly recommended.
4. Business incubator services
Typically, business incubator services are value-added services that aid in overcoming the seemingly daunting endeavor of doing business in a foreign state. In this case, these services should save you the countless business trips that prove to be not only time consuming but also financially draining. With these services at your disposal, you can easily set up, do your due diligence on about anything from joint ventures, product development, import and wholesale strategies, all the way to tax management, in the comfort of your office.
With that covered, it is critically important to understand that external influences will strongly affect your business operations. Shaping your international brand by engaging with the right set of agents and representatives to cover your business dealing needs could trigger immense growth.
Our integrated global manufacturing company, Link Eight, strives to provide top notch services on China wholesale from NZ, product development in NZ, importing from China to NZ and numerous other services that makes doing business in China more convenient for you. Please visit us at www.linkeight.co.nz for further information, including a structured pricing guide.