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7 posts • Page 1 of 1
As most of you know, I'm currently living in Southern China, near Hong Kong. I will get some money soon, from my own separate side business. I'm looking to see what type of business I could start? Either that, or I want to invest in a new start-up or business venture.
Anyone have any ideas? Or would anyone like to have connection to China? My Chinese is shit, so don't ask me to be an interpreter or something...
What kind of business looks promising? Any entrepreneurs in the group?
I once knew an African who supported himself in China by buying items like jeans that happened to be rejected to export to countries with very high standards such as Germany and then sending them to people he knew in other countries to sell them informally.
I met a British national at a Chinese airport. He had worked for shoe factories for years and followed the work to Asia. He served as a consultant to shoe factories in China. He kept a residence in Hong Kong, but did not have to pay income tax there. He had an apartment in Guanzhou, but just came in on some kind of visit visa and did not have to pay taxes there. He did not pay taxes in the UK, his home country, because he was working overseas. It sounded like a sweet deal as far as taxes go.
If you aren't a shoe factory expert, if you could learn to export goods from China, that may work. Find companies that want Chinese goods, ship them over, and sell them in your home country or elsewhere. There may be some goods you could import into China, but that may be a harder niche to find. I'd imagine China would have some sort of legal avenue for foreigners who wanted to export goods from China. If you have capital, you could buy containers full of goods an ship them out (hopefully FOB).
If you want to sell in China, you probably need an introduction from someone who has a guanxi relationship with the buyer.
Interesting idea, Mr. Man.
Actually, I live in Guangdong, which is the hub of the clothing and shoe trade in China. I don't have any experience in the industry though, so yeah; I would need to make some guanxi relationships with some knowledgeable people in the field.
The only thing is...I think the market for this kind of thing is already full. There's tons of people doing this already, so I'm not sure it would be worth doing.
What do you do for a living? Do you have expertise in a niche where exporting a product from China is needed.
The world is full of people doing the same business as everyone else. A lot of business earn normal returns on investment. Normal returns are enough to provide a good living for a lot of people. You do not have to start a business that is like Microsoft in the 1980's or Google in the early 2000's to earn a decent living.
My ex is a clothes sales lady if anyone needs a go between. She basically acts as the English speaking go between to assist companies in ordering from Chinese factories. It's all B2B. She's handled some big orders from household names, including one of the UK's biggest retailers. I visited their factory when I lived in Guangzhou, so I know it's legit.
I've dabbled in the online clothing industry but it's quite complex. There are some good niches if you look.
What do you need to make money?
Maybe a brand
From what I learnt in Guangzhou there's still good money to be made exporting to developing countries - developed markets are much more competitive. Also in the UK you'd be competing with NRI's who have family that own factories in Bangladesh etc. etc.
I quit my boring cubicle slave job and now I'm Happier Abroad...
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