Is it time to set up business in China?
Australia’s large Chinese community and strong trading relations with China present a unique opportunity to expand and set up business in China. The demand for Australian products in China is unprecedented. We have seen examples of this with infant baby formula mania, as well as the ongoing demand for iron ore, and the rapidly growing thirst for Australian wine. China’s economy is booming, growing at a rate of 10% – more than three times the global average – and is predicted to overtake the US as the worlds largest economy, if it hasn’t already. In this post, we will discuss what business development in China looks like for Australian companies and how to go about it.
Establish business networks in China
In order to successfully enter the Chinese market, a business must establish, build and maintain strong working relationships on the ground. This also includes building an ecommerce presence and online distribution network in China. However, this can be challenging for someone with no existing connections or business networks in China. As such, it’s highly advised to enlist the help of experts in this field. One such example is Austrade, a Chinese Australian company based in Canberra. Not only do Austrade help small to medium-sized businesses set up business in China, but they allow you to trial and sell products into the Chinese hypermarkets. This kind of preparation is invaluable and significantly diminishes the risk for business development and ecommerce in China.
Companies, connections and contacts
One of the main advantages of working with a company like Austrade is the access to their Chinese market knowledge and connections. With the physical presence of six sub-companies throughout China and connections to both Government officials and contacts, they are strategically placed to facilitate relationships and set up business networks in China for their Australian clients. You simply cannot put a price on this.
Gain the edge and enlist the experts
If you are looking to set up business in China then make the best investment for your business you will ever make. The potential payoff is unlimited in the most exciting market of our time and soon-to-be largest economy in the world. If you are ready or simply curious about business development in China then reach out to us and see how we could help change your world. Enquire here today.