China is one of the great economic success stories of the last 30 years. And offers a huge market for UK businesses in everything from technology to luxury food products. In 2018 alone, the UK exported over £23 billion of goods and services to China.
China is the largest country in the world by population, with over 100 cities of more than a million people. As a result, it’s business and consumer market continues to grow at a rapid rate. This includes a growing number of middle and high-income consumers who want more high-quality products. As Chinese companies expand, they will need services, new technologies and the expertise to support them.
Market Entry Support Services
There are still challenges in starting a business in China. For example, in order to get started, you’ll need to establish a stable business operation that is capable of running multiple distribution channels, initiating direct sales. As well as managing online and offline platforms.
For this reason, it is incredibly important to get things right from the start by working with an accredited partner in China, such as the PTL Group, who can establish and manage your on-the-ground operations before formal subsidiaries are registered. Allowing your business a critical period of market learning with full operational flexibility before committing to a specific structure, location, business model or partnerships.
Operational Support for Registered Entities
Once a company has successfully established a presence in China there are a series of ongoing management tasks that need to be addressed. This includes different accounting and labour rules, frequent law and regulation changes; as well as mandatory Chinese reporting systems. Local knowledge of these ongoing regulatory requirements is essential.
A market entry support service is invaluable. For example, PTL Group provides companies cohesive business support by leveraging its own existing financial, HR, administerial and logistic platforms.
The next step for those further along their sales cycle is company registration in China, and PTL Group harbours the capabilities to provide managerial and auditory oversight on such entities.
Find out More
To find out how to successfully launch and grow your business in China attend GTM Global’s Workshop Taking Tech to China Expansion Clinic on the 30th January 2020 at Fora Space Spitalfields, London. And meet with PTL Group and other in-country and market-entry specialists. Book your free space below.
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