Expand into Asia

  • Expand to Asia – Description

    1. Fast-Developing Environment

    With the tremendous growth of World-class tech hubs in Singapore, Hong Kong, Tokyo and other Asian cities, the region has become incredibly tech-focused and innovative as advancing technology, government support and tax breaks create a favourable environment to nurture business. 

    The business environment is changing in Asia also due to advancements in the mobile sector. Forrester predicts in one of its reports that online shopping in China will reach $1 trillion in 2019. As the report suggests, this growth will be spearheaded by the improving logistics networks and growth and success of mobile apps.

    Increased access to mobile devices, e-commerce and apps will improve networks which in turn will provide more opportunities and a better environment for all business types.

  • 2.Enormous Population and Market

    According to the United Nations Economic and Social Commission for Asia and the Pacific’s estimations, in 2014, 4.3 billion people lived in the Asia-Pacific region accounting for 60% of the global population making it an enormous market.

    Besides the massive market of potential customers within this vast population, it also includes a market of upcoming and untapped talent. Combining this growing population with the ever-evolving tech industry would guarantee a constant supply of promising engineers, designers and entrepreneurs proving that Asia holds limitless opportunities for everyone.

    Expand to Asia – Description
  • Expand to Asia – Description

    3. Exciting Atmosphere

    It is exciting to see that markets in Asia are still developing. In comparison to U.S. and Western European markets, the emerging economy in Asian markets provides unique opportunities and more room for innovation.

    Inspiringly, the startup growth in Asia is increasing at a rapid pace. CB Insights data suggests that in terms of growth in venture-capital deals and dollars in 2014,  Beijing, Tokyo, Shanghai and Bangalore were among the top six cities in the world. Beijing alone saw a massive growth of 165 percent in deals during the years 2013 to 2014.

    According to another study conducted by National Association of Software and Service Companies, with 800 new startups launching each year, India proved to be the fastest growing startup ecosystem in the world.

    Better opportunities and more doors will be open to those who get in on the ground floor of rising economies as opposed to already developed economies which would be growing at a slower pace.

  • 4. Advanced Infrastructure

    It is much easier to setup businesses in major Asian cities due to their advanced infrastructure. While this rapid growth has required considerable amounts of investments in both economic and social infrastructures, it is apparent that improvements in these areas are undergoing.

    These improvements in the business sector in Asia are also reducing barriers to entry; thus increasing new opportunities. Relaxed requirements for foreigners starting new businesses in Japan are allowing them to do so even without being permanent residents according to Japan Times.

    Expand to Asia – Description
  • Expand to Asia – Description

    Many western firms fail in Asia because conditions are very different

    It could be exceedingly challenging to understand where opportunities lie within Asia. Therefore, it is crucial that a considerable amount of time is spent analysing and mapping out the location of potential customers and suppliers. Factors such as industry trends, scope and size of the market, ground sales and technical support expected by customers, and required distribution channels are integral in ensuring successful market entry.

Western business owners should learn the nuances in relationship building as it is imperative especially in B2B spaces. While in western regions such as North America, relationships can be established through one or several phone calls, a more personal face-to-face interaction would prove to be rather effective in forging strong relationships in Asia.

 

Asian countries are often said to be ‘high context’; where many things are left unsaid and assumed that the hidden meaning is understood within the context of their culture. The western culture often contradict this by using direct communication which might lead to miscommunication and wrong assumptions between the cultures.

Baur Asia

Singapore Office

# 08-57 Vertex Building 
33 Ubi Avenue 3 
Singapore 408868
Office phone : +65 6293 6282
Fax Number : +65 6293 6383

Bangkok Office

Baur Asia (Thailand) Co., Ltd.
No. 25 Alma Link Building, Level 18 Soi Chidlom,
Ploenchit Road, Lumpini,Phatumwan,
Bangkok 10330
Thailand
Telephone : +66 2 509 0956