What Basic Things are Needed to Start Business in China?



Starting your own business is not an easy job, for foreign startups, to start a business in China are much more difficult. In order to maximize the success rate of entrepreneurship, what are the factors that successful startups have to do? Here are some basic things need to start business in China.

Distribution Channel

The role of sales channels for startups is very important. Even if you have a good product, if there is no suitable sales channel, not only nobody knows your product, but more importantly, you can not make a profit. If you can’t generate revenue, it will be hard to attract employees and investors, therefore making growth nearly impossible.

For startups abroad to start their own business in China, a less risky approach is to look for local partners such as WTOIP Global. By utilizing their industry and connection resources, you can rapidly enter your target markets.

Capital and Funding

In the early stages of your business, entrepreneurs should prepare for being unable to generate revenue or even loss. Starting a business needs a lot of initial investment, but no one can predict when to make a profit. The shortage of funds will have a significant impact on business and morale. In addition to preparing enough startup capital, subsidies can also be obtained by applying for startup accelerator programs, then consider attracting investors when the products are more matured.

Product

Do you know the target market market capacity, consumer spending habits, and whether the product can truly meet the needs of target users? Many people see the huge capacity of the Chinese market, but it is also easy to ignore the competition is quite serious. Therefore, before starting a business in China, it is a good idea to conduct a market research first, look at the target market feedback and your product competitiveness, adjust the direction before starting to invest so as to increase the success rate of entrepreneurship and reduce unnecessary losses. A good product can always solve the pain point of the user in some respect, with which the startups are easier and more likely to enter the target market.

Passion

Make sure this is something you love. You have to be totally engaged in an idea, a problem, or a mistake you want to correct. If you are not enthusiastic at the beginning, then you will not be able to stick in the end.

WTOIP Global


WTOIP is the world’s leading entrepreneurial resource-sharing platform with a focus on IP, helping foreign tech startups to start business in China. If you want to expand the China market, just contact us.

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