How to start up a business in China?

How to start up a business in China?
Aug 24, 2012 03:46
EVIA Points: Join Date: Jun 15, 2012 Status: offline	1.First step is to understand China and that it is not just one market. Learn about China, but don’t think a book about “how to do business in China” will ever be enough. China is the country of contrasts where almost any answer can be as correct as its opposite 2.Buy a market report or hire a consulting company. Although if done in large enough extent this can offer good insights, it is often extremely expensive and the answers still very theoretical. To save both money and time, it is recommended to jump to step 3 directly. 3.Start up a company in HK and get a virtual office in China (phone number and address). Companies like Regus or Servcorp offer this, and new companies like iQubator complement these services with virtual assistant services depending on your needs. 4.Move to China, send a representative over or hire someone local in China to do the required research. This is often much cheaper than doing it from overseas because of the cost of living and salaries and it also offers a much better insight. This can be done either the traditional way through local consulting companies and serviced offices, or through one-stop-shops companies that offer you toolboxes to do it yourself. An example is the HK and Shanghai based iQubator that offers an incubation-like service. 5.Build your guanxi (business network) in China and get a deeper understanding. These things are recommended to be done before starting up a company. IQubator offers all tools needed for this from office solutions, virtual offices, virtual assistants to recruitment, hiring, visa services, HR, accounting and local invoicing. Basically everything you need to start up directly. 6.Since 2010 it is possible to receive payments online through cross-border payment systems such as Alipay, Tenpay, 99bill and others. iQubator can help translating the website, adapt it to the market and integrate the payment systems in it. Together with the local representative you have a fully operational business in China that you can use to try out the market and further develop your network. 7.After about 3-6 months of research, network development and trials it is time to incorporate the company. Many people think a Representative Office so called Rep Office or RO is the first step. Actually, through tool-box companies, or Business Support Offices, you get much more than a RO can offer at lower cost and low risk, since you can cancel the contract at any time. The best way to go is a WFOE, Wholly Foreign Owned Enterprise. For more information, contact iqubator!

Aug 24, 2012 03:46

EVIA
Points:
Join Date: Jun 15, 2012
Status: offline

1.First step is to understand China and that it is not just one market. Learn about China, but don’t think a book about “how to do business in China” will ever be enough. China is the country of contrasts where almost any answer can be as correct as its opposite

2.Buy a market report or hire a consulting company. Although if done in large enough extent this can offer good insights, it is often extremely expensive and the answers still very theoretical. To save both money and time, it is recommended to jump to step 3 directly.

3.Start up a company in HK and get a virtual office in China (phone number and address). Companies like Regus or Servcorp offer this, and new companies like iQubator complement these services with virtual assistant services depending on your needs.

4.Move to China, send a representative over or hire someone local in China to do the required research. This is often much cheaper than doing it from overseas because of the cost of living and salaries and it also offers a much better insight. This can be done either the traditional way through local consulting companies and serviced offices, or through one-stop-shops companies that offer you toolboxes to do it yourself. An example is the HK and Shanghai based iQubator that offers an incubation-like service.

5.Build your guanxi (business network) in China and get a deeper understanding. These things are recommended to be done before starting up a company. IQubator offers all tools needed for this from office solutions, virtual offices, virtual assistants to recruitment, hiring, visa services, HR, accounting and local invoicing. Basically everything you need to start up directly.

6.Since 2010 it is possible to receive payments online through cross-border payment systems such as Alipay, Tenpay, 99bill and others. iQubator can help translating the website, adapt it to the market and integrate the payment systems in it. Together with the local representative you have a fully operational business in China that you can use to try out the market and further develop your network.

7.After about 3-6 months of research, network development and trials it is time to incorporate the company. Many people think a Representative Office so called Rep Office or RO is the first step. Actually, through tool-box companies, or Business Support Offices, you get much more than a RO can offer at lower cost and low risk, since you can cancel the contract at any time. The best way to go is a WFOE, Wholly Foreign Owned Enterprise.

For more information, contact iqubator!

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