Over the last four decades, the Chinese economy has grown at supersonic speed. Now it is the second largest economy, and the World Bank predicts that it is likely to climb to number one by 2030. As an entrepreneur, China presents numerous opportunities for growth and boasts state-of-the-art infrastructure, and a massive population of over 1.4 billion people. But even with these highly attractive attributes, some investors pause China company incorporation because of myths in the media.
It is time to debunk these myths and set you free to grab every available opportunity. We will also tell you how to simplify the process of China company formation by working with an agency of experts.
You Have Got to Be Big to Register a Company in China
This is a common misconception that usually holds people back, making them miss the available opportunities. To start a company in China, you only need enough capital, and this does not have to be billions of dollars. Indeed, the best approach is to start small and use smart business strategies to grow. For some startups, especially in the tech niche, it is possible to start with little and attract funding from investors to grow.
Also, the amount of money needed for company registration depends on the nature of the enterprise. For example, a consulting firm offering HR development services is likely to require less capital compared to a large auto or medical equipment manufacturing firm. However, it is a good idea to have ample funds to support company growth until it becomes self-sustaining.
It is Hard to Get Skilled Workforce in China
This argument is incorrect. China has one of the well-funded education systems on the globe. Therefore, you will not have a problem getting bright, highly skilled persons in almost all disciplines. For example, Shanghai, Beijing, and Shenzhen have established themselves as leading and reliable tech hubs in the country.
No matter the nature of the Chinese company you want, there is enough talent for it. When working with an agency of experts, such as Primasia, china company registration and getting the right talent will be pretty straightforward.
Chinese Are Resistant to Foreigners Doing Business in the Country
Chinese are charming people, and they fancy people who deliver value. What makes them look like they do not love westerners is that they have a strong attachment to their values and do not like impatience and rudeness. So, if you can foster mutual respect and build on long-term relationships, your venture can be so rewarding.
Only Shanghai and Beijing are Good for Business
This is perhaps one of the most misleading myths, and you should not fall for it. The truth about China is that the entire country has been undergoing rapid urbanization, and it is now possible to open a company in almost every region.
- Guiyang is an emerging tech hub for big data.
- Hengyang is known for electronics.
- Chengdu is a tech hub, with top brands such as Apple and Dell camping there.
- Huinan has made a name for years as the best region for equipment manufacturing.
Remember that transport and logistics is not a problem in most regions because of the well-developed road and rail network. So, moving raw materials, labor, and other factors of production will be easy, fast, and reliable.
Simplify China Company Formation with the Help of Primasia
Now that we have debunked the myths, it is time for China company formation. The best way to register your China company formation is using the Primasia agency. They not only have the best experts to help you register the company, but will be there to hold your hand during entry. In addition, you can count on Primasia for assistance with company accounting, payroll management, and tax matters.
Do not let anything stop you from achieving your dreams for company growth in China. Reach out to Primasia for all the assistance you want with company registration and executive services.