Business opportunities between China and the United States still remain possible, even with the political climate between the two countries being at a very difficult and low point in their history. However, it makes finding the right business partner more important now than it ever has been.
It is possible to hit additional barriers in terms of language, cultural differences and geographic location. However, research, relationship-building and general know-how can make it possible.
Researching your partners
China Business Review examines some of the top tips for finding a business partner in China. It talks about the importance of communication and relationship building, which is important for any healthy business tie to flourish, but especially when making ties with someone from a unique culture that greatly differs from one’s own.
To get a partnership off on the right foot, one must first thoroughly research their partners. This includes having in-person meetings, visiting manufacturing sites, observing plant workers and making sure that the factory in question has good standing.
Build strong relationships and communication
It is important to overcome the communication gap, too. Have people on staff who not only speak the partner’s language fluently but also intricately understand Chinese culture and business. This way, it is possible to avoid potentially disastrous miscommunications and faux pas.
Focus on building the relationship, too. This will take time to create mutual trust, but it is usually a factor of key importance to many Asian businesspeople.
Finally, set up a satellite office in China. This is a display of mutual trust and shows one’s commitment to the business partners and the Chinese market at large.
Taking these steps can ensure a much tighter bond after selecting one’s partner.