Doing business with China has become critical to UK SMEs buying and selling internationally.
With China experiencing exponential growth over the past few decades, it has evolved from being a closed economy into a global consumer hub. This means it’s now easier than ever before to find a manufacturing or wholesaling partner.
In the past, trade fairs such as the renowned Canton Fair were the main channel of business. The traditional way of doing business has however faced competition from companies such as the Alibaba Group in recent years. One of the largest B2B e-commerce marketplaces in the world it connects 26 million active buyers across more than 200 countries and regions, allowing customers to source, pay, and manage products all through one ecosystem.
World First offer some tips for success for doing business with China…
- Do your research
- Then, go for it
- Partner up
- Be patient
- Be prepared to re-assess
- Pin your colours to the mast
- Beware the ‘Great Firewall of China’
- Think local