1- You need help from local companies
Global companies should empower local teams and have customer service help from experienced providers in the chosen country. Local teams will know their own markets and customers better than any other team.
Localized products and services must be developed and marketed by local teams, too. Otherwise, they won’t be successful in the sometimes closed cultures present in this region.
With our international team and local contacts, we can help you overcome these challenges. Get in touch and we’ll develop a custom plan for your business needs in Asia.
2- Local regulations tend to be strict
Government regulations within the region can vary greatly. Companies should be open-minded when dealing with Asian governments, as usually their norms can be quite challenging. A local partner can help you navigate the regulations.
Large countries like the U.S. and China struggle to understand the differences in smaller markets. Governments want companies who aren’t just looking to take but to give back. These governments are looking for partners to develop their local markets; and therefore might make you jump through some hoops before allowing you to work inside their borders.
If you want to operate in more conservative countries like China, Thailand, Singapore or Malaysia, you’ll need the help of a local partner. At Eunion Capital we can help you navigate these regulations successfully.
3- Physical offices are needed in some places
Most jurisdictions in Asia require some form of office presence in their country. Some countries require a physical presence while others require a registered office. A lease agreement is often required as part of the registration process.
Companies must deliver their licenses or registrations to an office. In Indonesia, the license to run a business will be delivered personally to the physical office. Cambodia requires companies to register their taxes at the company office.
Eunion Capital can assist you with office space, including registering an office, a virtual office, or securing physical space.
4- Customers behave differently compared to other regions of the world
When doing business in Asia, you should be aware of how to behave with your customers. Asian cultures can be very sensitive and place a lot of importance on tradition, manners and respect. For that reason, this market can be a bit harder to crack for foreign companies than other areas of the world.
Asian customers will usually only trust local companies or products that are present in their traditional shopping spaces. For that reason, getting inside the local supply chain can make or break your operations in the country of your choice.
The experts at Eunion Capital can help you get inside the local supply chain. We will sell your products in local stores, go to trade shows in your behalf, and in general do anything that’s needed for you to be successful with your global venture.
5- Investors need to trust you
There’s a lot of investors looking for new projects to fund in Asia. However, as we’ve already mentioned, in this culture personal relationships are extremely important for anything related to business.
If you want to find an Asian – based investor, you’ll need to forge a trust relationship with them before you can expect to make any profit. For that reason, working with Eunion’s partners can help you shortcut this process and navigate the Asian investment world in a much easier way.