China is the leading country to do import business with, and plays an integral part in boosting the country’s economy. However, it is sometimes difficult to conduct business across the seas, when two different languages are spoken and cultures are different i.e. the art of doing business with China can have its challenges. The Chinese have a unique way of handling business affairs, and therefore, we have put together some tips for those wanting to grow their relationship with Chinese manufactures and suppliers.
Make use of a translator
The language barrier can create problems when trying to make business deals and transactions. Miscommunication can often lead both suppliers and buyers into a frustrated business deal. Making use of a Mandarin translator will allow for success and to-the-point business negotiation, eliminating miscommunication.
Find a platform which specifically caters to doing business with China
A business-to-business exhibition and trade show is an ideal platform to do business with China as it caters to both the needs of the supplier and buyer. It is a strategic platform, specifically designed to ensure business between the two countries is favourable and profitable. Apart from onsite Mandarin translators, an exhibition like this will help you find the right supplier and the best quality products to suit your business’ needs.
Formalise the agenda
Before meeting with a potential Chinese business partner and supplier, put together a strict, timed and formal business agenda. Highlight integral discussion points and what you would like to achieve from the meeting. An agenda helps eliminate miscommunication and lengthy discussions as well as helps to combat time wasting.
Make short-term agreements
When entering into a business agreement with a Chinese business partner, rather focus on your short-term business goals as opposed to entering into a long-term business relationship. With the ever-changing economy and fluctuating demand for suppliers, it is best to avoid lengthy contracts and agreements.
Find middle ground
The way in which business is conducted by the Chinese is unique, and seen as an investment to them, even if they are only selling you a product. They like to steer the ship and get involved beyond the simple transaction of doing direct business. Find middle ground when negotiating and ensure you both get the best out of the deal.