Asia is home to some of the most powerful markets, one of them being China, possibly the world’s biggest economic powerhouses. Business in Asia has experienced tremendous economic growth over the years, mainly due to the size of the markets, the resources that the different countries have to contribute, strategic locations, expanding infrastructure and affordable labour.
Investors have seen the opportunities available in building business in Asia in countries such as China, Singapore, Malaysia and India. This opens the door to better relations between the continent and Latin America. Trade between the regions has historically been rather limited but has plenty of room for growth.
Biz Latin Hub can help you do business in Asia, especially if you want to connect the continent to Latin America and the Caribbean. We know that clients in India, China and elsewhere in Asia are keen to develop commercial contacts in the region and no one knows more about company formation in this part of the world than we do.
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Benefits of doing business in Asia
When an investors seeks new locations for expanding a business empire, they look for what that location can offer and how it can be beneficial towards their businesses. The growing interest in doing business in Asia is due to:
- Strategic location – The continent is physically far away from Latin America, but there are great direct shipping routes.
- The relative ease of doing business – Except for one or two countries, it is relatively easy for foreign investors to establish a business in Asia without experiencing too much difficulty.
- Affordability – The tax system in Asia is much lower and reasonable when compared to a lot of Western economies. A skilled and educated workforce is also available for hire at very reasonable rates.
- Stable legal, political and economic environment – Asia is very welcoming towards international investments, and the sound political and economic environment with strong legal systems in place are favourable environments for investors wanting to establish a business.
How to successfully do business in Asia
Each business is different and should be run in a different way, but the general guideline of running a business successfully in Asia will tend to include:
- Working with a local partner – Having a local partner with a thorough understanding of the local business in an valuable asset to help navigate local bureaucracy.
- Understanding the local society – Asian cultures have varying beliefs that are different form country to country, and understanding local customs and etiquette will go a long way in building a successful local businesses while avoiding taboos.
- Remember that the Asian way of doing business is not the same as the Western way – Asian business people tend to be a lot more introverted than their western counterparts. Building trust and open communication is often on of the best approaches.
Biz Latin Hub and our partners can help you do business in Asia
While we are well versed in business in Latin America and the Caribbean, we work with partners worldwide in order to extend our reach and connect different parts of the globe where possible, including 3E Accounting for doing business in Asia.
3E Accounting is an established institution with a vast network presence spanning across various countries in Asia. 3E Accounting’s reach expands to Singapore, Malaysia, Indonesia, Cambodia, Philippines, Vietnam, Laos, India, Sri Lanka, Japan, Bhutan, Thailand, Myanmar, China, Hong Kong, Israel, Taiwan, Kazakhstan, Maldives, Nepal and the United Arab Emirates.
With a vast network and experience, we dedicate our work to helping other businesses achieve success across Asia through our extensive range of services. To find out more about venturing to Asian countries, visit 3E Accounting International today for more information.
