Expanding to an international market is an important step for many businesses regardless of their size. Using the Internet to its fullest potential to reach the market is a great way of accomplishing this goal. Establishing an office in a target region takes the benefits of online expansion and doubles it, thanks to the natural advantages of being in the same region as your audience.
Asia is a hotspot for businesses due to the available manpower and customers in the continent. A few of the best cities to do business include:
One of the major business and commercial districts of Metro Manila, the capital region of the Philippines, Ortigas has long been the host of many international businesses, big and small. Located along major thoroughfares, with affordable office space for lease, and surrounded by exclusive accommodations and services, Ortigas has everything a company may want.
The Ortigas Central Business District sits in the middle of Pasig, Mandaluyong, and Quezon City. Some 130,000 sqm of commercial office space was in development in 2016 in this area and is home to more than 700,000 residents. Business and knowledge process outsourcing industries thrive in this district with big companies.
China is making a name for itself as the next big economic powerhouse in the world. Guangzhou is one of its premier cities of growth. Home to 14 million people, among them billionaires, Guangzhou is of particular interest to Europeans due to its half-millennium of relations with the Portuguese and other European countries.
The country is also only 90 minutes away from the transport hub of Hong Kong, another gem for businesses looking for a foothold in Asia. Companies prefer setting up shop in Guangdong province, where Guangzhou is located, because of its strong laws and awareness regarding intellectual property rights.
Strong interpreters and cultural experts also abound. Taking a few into service is essential for companies as they can help businesses navigate cultural differences and bureaucratic red tape.
A cosmopolitan hub, Singapore has a kind of appeal that makes it seem like the central business district of Asia. Though nature still thrives in the city-state, skyscrapers shoot out of the sky and grand sights such as the Marina Bay Sands are powerful reminders of the economical power of the nation.
Taxation agreements make Singapore an attractive base of operations. The country has over 50 comprehensive double taxation avoidance agreements, free trade agreements with other countries, and guarantees for investors. Comprehensive intellectual property laws are also strictly enforced by government agencies. Full lists of laws and regulations are available online for perusal.
Singapore has made strides in terms of ease of business, manpower recruitment, and development of industrial parks. Government agencies are also open to dialogue and providing assistance to foreign businesses. An example of this is the Economic Development Board, which works round the clock to keep the integrity of the country's pro-business environment.
Expanding can be as easy as scouting the location, assigning a representative to oversee business operations, and hiring out. Another way to expand to new regions is to franchise out or create partnerships with prominent companies based in the region. The key to making these partnerships and expansions last is knowing the business and cultural profile of each location, and attuning strategies to fit these parameters.