Business West is sponsoring one of the largest national events promoting British business in China.
The China SME Forum is being held on 26 September at Ashton Gate Stadium in Bristol by the China-Britain Business Council (CBBC). The annual Forum is now in its fifth year, and is CBBC’s flagship event which focuses specifically on the challenges that affect small and medium size businesses as they enter and grow in the China market.
The decision to hold this year’s event in Bristol recognises the potential of South West businesses to capitalise on opportunities in China. Business West’s ERDF funded Export for Growth project is a headline sponsor and will be leading two sessions for their regional Extend Your Global Reach programme. This programme is aimed at experienced exporters who have the potential to compete in China but have not yet entered the market. Delegates will learn from experts across a range of key issues, including developing a China market entry strategy, opportunities in the Chinese consumer market and creative industries, and partnerships in innovation, technology & investment.
Sweeping headlines and macro-policies can sometimes make it hard for companies to understand how their offering fits into the China market, but with the right advice that really shouldn't be the case. As China shifts to a more service and consumption driven economy, known as New Normal, opportunities are increasingly opening up for South West companies across many sectors.
Much of China's growth over the last 40 years was built on low-cost export and large-scale domestic asset investment. Nowadays however, China's burgeoning middle-class is seeking goods and services at which our local UK companies excel.
Where are the opportunities in China?
1.Manufacturing - One of China’s major government policies, Made in China 2025 aims to transform China into a leading manufacturing power, advanced manufacturing and engineering companies in the South West are well placed to seize these opportunities.
2.Healthcare - With an ageing population and an increased awareness of health issues, some are predicting that expenditure on healthcare will reach US$1 trillion by 2020. Whether it is developing leading hardware or software solutions, service orientated providers delivering world class education and training; South West healthcare/life science companies are encouraged to look into this exciting market.
Business in China is done very differently to the west. However, doing your homework and making an effort to understand the local culture and customs goes a long way to helping you succeed. With the support and advice of Business West and the CBBC, succeeding in China is something that every well-prepared company in the South West can achieve.