When the name China is mentioned to most entrepreneurs, it is associated with massive business growth and success. Because of its supportive strategies, state-of-the-art infrastructure, and rapidly growing economy, no one wants to be left behind in going to China. For investors, China forms the starting point for their global expansion. So, what are the best options?
This post highlights the five main options that you should consider to rapidly grow your enterprise outside China. We will also highlight some of the benefits that come with growing your enterprise abroad:
Why You Should Grow Your Business Internationally
- Helping your business to get a larger market.
- Strengthening your brand globally.
- It is an excellent way to enjoy lower taxes.
- Enhancing the company’s profitability.
- Building better connections for faster business resilience.
The Best Connections for Company Growth Outside China
The following three options are outstanding because they provide your company with better prospects for growth and success. As Adrian Cheng puts it, your business should always target growing its market both locally and abroad as a way of sustaining high profits. Remember to carry out ample research about the targeted markets and customers when crafting a plan for global growth.
- Hong Kong
This is one of the most viable jurisdictions for business expansion outside China. The Heritage Foundation and World Bank indicate that Hong Kong is one of the most liberal jurisdictions on the globe. Apart from low taxes, your company is also assured of easily accessing a qualified workforce, government support and reaching a bigger market through bilateral trade arrangements.
- The United Kingdom (UK)
The United Kingdom is one of the top markets that you should consider when targeting rapid global business expansion. Its large network of partners, both in the EU and across the globe, can help your business and products to easily win a larger market.
If you have a manufacturing enterprise, your UK conglomerate can act as your main arm for sourcing raw materials and reaching out to the rest of the EU.
- The United States (US)
Most Chinese companies eye the US market because it is very lucrative. Opening a branch or new company in the US can give you direct access to this large market. Another good thing with the US is that Americans are always looking for new and better products. It is also an excellent way of giving your company credibility in the international market.
These are some of the most lucrative markets that investors should consider when targeting new jurisdictions outside China. Other options that you might also want to consider are Brazil, United Arab Emirates (UAE), and South Africa.