Sunday, September 19, 2010
Monday, September 6, 2010
How to do business with China?
Regardless whether you a small, medium or big companies, the first thing you should do before embarking on doing business with a particular market like China is doing your market research first. This is a natural thing to do but this is a very important element before you can decide whether it is worth or not to do business with China.
There are many ways of conducting market research. Medium or big companies maybe can afford to oursource this activity from market research agencies or buy existing reports that available in the market. While small companies may have to do it themselves. In this modern IT world, information is widely available and it just requires our initiatives to search for the information. It may not be as comprehensive as the info that available from market research reports but at least we have some important info to fall back.
I had experiences helping Malaysian companies doing market research or compiling market info.
There are many ways of conducting market research. Medium or big companies maybe can afford to oursource this activity from market research agencies or buy existing reports that available in the market. While small companies may have to do it themselves. In this modern IT world, information is widely available and it just requires our initiatives to search for the information. It may not be as comprehensive as the info that available from market research reports but at least we have some important info to fall back.
I had experiences helping Malaysian companies doing market research or compiling market info.
China - The Place for Doing Business
Many people are sourcing products from China. The obvious reason is for their lower prices as compared to many other countries. China is regarded as the 'factory' of the world, you can name any products and its there in China. The price is very competitive though the quality can be an issue. Cheap and low quality products have its own customer base, people are still buying costs their are cheap and would rather use it for certain period of time and then replace it with new one. China's products quality nowadays has improved significantly and been exported worldwide.
Many of small time foreign buyers, esp from Malaysia, are interested in household products like bed sheets, table liners, curtains,clothes, etc. Other products of interest include all types of gadgets like computer parts and accessories, handphones, watches, etc. They can get these products from wholesale market and popular shopping areas in China, if the volume is not big. If the volume is big they can source directly from factories. Some of them visit trade fairs and exhibitions to get to know the producers directly and can get better price.
What are recommended steps of doing business in China? See you next posting..
Many of small time foreign buyers, esp from Malaysia, are interested in household products like bed sheets, table liners, curtains,clothes, etc. Other products of interest include all types of gadgets like computer parts and accessories, handphones, watches, etc. They can get these products from wholesale market and popular shopping areas in China, if the volume is not big. If the volume is big they can source directly from factories. Some of them visit trade fairs and exhibitions to get to know the producers directly and can get better price.
What are recommended steps of doing business in China? See you next posting..
Sunday, September 5, 2010
China - The Place for Doing Business
China is the 'place' for doing business nowadays. Everybody is taking advantage of China's booming economy and going there to do business. The answer whether it is possible to do business in China is YES, and it is still not too late to seize a small share of China's economy and make profit.
It depends on what type of business you want to do with China. The investment will depend on the type of business. Some Malaysian companies are doing big there, having their production facilities or factories in China and this will require heavy investments, probably millions of US$. Some of them invested in projects, like waste and water treatment, information and communication technologies (ICT), infrastructure, real estate and so on. These also require heavy investments, and some of them in billions of US$.
Don't talk about millions or billions of US$ unless you have such financial capability. We can also do business with China in smaller ways. For instance, if you want to do trading, the investment needed is not as high as compared to other types of business. A lot of people do trading with China. Many of Malaysians also do trading. For those who buy or source Chinese products, normally they visit some of the well known wholesale or retails markets in China and look themselves the products they want to buy. They either bring back the products by hands or appoint an agent to ship the products back home. This kind of trading is small but the profit margin can be big.
Will continue.....
It depends on what type of business you want to do with China. The investment will depend on the type of business. Some Malaysian companies are doing big there, having their production facilities or factories in China and this will require heavy investments, probably millions of US$. Some of them invested in projects, like waste and water treatment, information and communication technologies (ICT), infrastructure, real estate and so on. These also require heavy investments, and some of them in billions of US$.
Don't talk about millions or billions of US$ unless you have such financial capability. We can also do business with China in smaller ways. For instance, if you want to do trading, the investment needed is not as high as compared to other types of business. A lot of people do trading with China. Many of Malaysians also do trading. For those who buy or source Chinese products, normally they visit some of the well known wholesale or retails markets in China and look themselves the products they want to buy. They either bring back the products by hands or appoint an agent to ship the products back home. This kind of trading is small but the profit margin can be big.
Will continue.....
China - the next world economic powerhouse
China is fast becoming a major economic powerhouse in the world today. The country has surpassed Japan as the 2nd biggest economy in the world and the economic growth has been sustained by its huge domestic economy, foreign direct investment as well as its exports.
During my 4+ working experiences in the capital of China, I am fortunate to witness the fast development of the country. From its infrastructure to its social development, China has reckon itself as the 'market' for foreign enterprises, and Malaysia not exluded. The number of Malaysian enterprises; small, medium or big, doing business in China has increased significantly over the past 20 or 25 years. The Malaysian companies venture in all sectors; manufacturing, services, trading and so on. Some of them already have their business set up in China; in the forms of production facilities, branches and representative offices. All because they want to tap the huge 1.3 billion market. A small share of business in China market can mean big to us, hence like it or not we need to give it a try.
Would it be possible for us to do business with China, how much investment we need and what we need to do before dealing with China market?? Wait my next posting...
During my 4+ working experiences in the capital of China, I am fortunate to witness the fast development of the country. From its infrastructure to its social development, China has reckon itself as the 'market' for foreign enterprises, and Malaysia not exluded. The number of Malaysian enterprises; small, medium or big, doing business in China has increased significantly over the past 20 or 25 years. The Malaysian companies venture in all sectors; manufacturing, services, trading and so on. Some of them already have their business set up in China; in the forms of production facilities, branches and representative offices. All because they want to tap the huge 1.3 billion market. A small share of business in China market can mean big to us, hence like it or not we need to give it a try.
Would it be possible for us to do business with China, how much investment we need and what we need to do before dealing with China market?? Wait my next posting...
Thursday, September 2, 2010
Before we conduct market research, we need to specify what type of information that we want. We need to have focus, otherwise we may waste not only our time spent in doing research but also money if we outsource the research.
I have done a quite a number of market research myself and share it with others who need it. Many students and small and medium size enterprises also requested me to do market research with a nominal fee. I do not mind to spend time doing research since I like doing it and also I know the info can benefit others in education and business.
I have done a quite a number of market research myself and share it with others who need it. Many students and small and medium size enterprises also requested me to do market research with a nominal fee. I do not mind to spend time doing research since I like doing it and also I know the info can benefit others in education and business.
Market Research
Market research is important before we plan to do business or sell certain products or services. It is not difficult to conduct market research if you know how to source the information. In this modern internet world, the easiest way to source for info is via internet. We can get a lot of information from internet, which may help you in doing your market research. I think this is most cost effective way of doing market research.
Another way of doing market research is by visiting resource centers and libraries that are available in various places. You will find it useful to visit these resource centers as they offer various kinds of information and depending on what types of info you require, you can always check which resource centers or libraries that can offer such info.
Of course, if you have a bit of savings or good financial back up, you can always outsource for the info from a reliable market research agencies. They will do the job for you at a cost, and normally the info gathered is both the first and second hand sources of information.
I am keen in searching for information esp business related info. Probably my interest is due to my background that requires me to do a lot of research and helping people to do business. So I need to quip myself with a lot of knowledge on business. I had also lived abroad for nine years and exposed to intense and challenging business environment and competition which require me to do a lot of market research on particular business in order for me to help others who want to do business.
If you are keen to explore working with me on market research or seeking advice, esp if you are students of novice in business, please feel free to exhange ideas.
Another way of doing market research is by visiting resource centers and libraries that are available in various places. You will find it useful to visit these resource centers as they offer various kinds of information and depending on what types of info you require, you can always check which resource centers or libraries that can offer such info.
Of course, if you have a bit of savings or good financial back up, you can always outsource for the info from a reliable market research agencies. They will do the job for you at a cost, and normally the info gathered is both the first and second hand sources of information.
I am keen in searching for information esp business related info. Probably my interest is due to my background that requires me to do a lot of research and helping people to do business. So I need to quip myself with a lot of knowledge on business. I had also lived abroad for nine years and exposed to intense and challenging business environment and competition which require me to do a lot of market research on particular business in order for me to help others who want to do business.
If you are keen to explore working with me on market research or seeking advice, esp if you are students of novice in business, please feel free to exhange ideas.
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