Business
Untapped MarketThe ability to bring a new specialty to a country that is unaware of a certain service brings in revenue to a company like never seen before. The idea of expanding instead of staying domestically owned can be the key to success in the business world. When trying to take advantage of the Chinese market a company has the whole new consumer class that is uprising to take into account.
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ConsumersBy tapping into the other 95% of the consumers that live on this planet, it can lead into great profits in little to no time. When you get more people to buy the product you are selling there will undoubtedly be an increase in revenue. There are over 1 billion people living in China which is over three times the amount in the U.S. If more money is wanting to be made by a company then expanding into China will be a strong positive.
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RecognitionWith new consumers comes new recognition and the spreading of your own company name. When one group of people hears about an up and coming new company from family or friends they want to be a part of the new company themselves. In China with all the connections there could be between family and friends the choice of expanding becomes very tempting. With the simple idea of how many people are living in China people have to realize and take advantage of the fact their company will spread and expand to great amounts.
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Save MoneyThe final big part of expanding a business is using the lower wages of workers and lower prices on taxing of other countries to produce your product or carry out services that a company provides. The question that goes into play is, why would a person pay more and lose money off of expensive employees when they could really get people for lower costs in another country. For example in China, even by staying away from sweatshops people are working there for less. Expanding into China will save a company money in the long term.
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business_overseas.pdf | |
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