DreamMaxima Expands your Business into Asia, China, Taiwan, Hong Kong

1. DreamMaxima can help you research more information in Chinese on the Internet, while using the most widely used Chinese search engines like yahoo and government’s data
2. DreamMaxima does Chinese keyphrase research, search engine optimization strategies and collects information about the difficulties you could encounter

3. Team Dream Maxima can help you grow one of the most valuable relationships operational by uncovering company truth, and hire well-trained Asian workers, buy things from China, Hong Kong, Taiwan, Japan

You could possibly face these challenges while conducting business in Taiwan.

Taiwan carries a relatively small market but a lot of competition : Taiwan is really a geographically small place with a relatively high population density in comparison to other Asia Pacific markets. This makes for any highly competitive market with greater limitations on resources and business.
Forge strong relationships and business networks : Networking is an integral part of doing business in Taiwan as ‘who knows who’ is very regarded. Locate a local partner or engage a senior manager early on to assist forge and gaze after robust business networks.
Communicating in Mandarin : Though there are English-speaking business owners in Taiwan, it’s helpful and practical in order to communicate in Mandarin or Taiwanese. Recruiting a translator or hiring a bilingual business partner is suggested : especially when you’re negotiating contracts or discussing legal matters.

Emerging markets in Asia present significant growth opportunities for businesses, in addition they pose many challenges in terms of culture differences and government regulations.

How can HR requirements differ when establishing a business in Asia?

The concepts are identical – payroll and benefits – but statutory requirements are much different than within the U.S. and they vary based on country. For example, all employees in Hong Kong have a mandatory provident fund that requires a 5 percent contribution through the employer as well as a 5 percent contribution through the employee. In Singapore, there’s a mandatory central provident fund and the average employer contribution is 15.5 percent; that’s a considerable difference.

In addition there are differences regarding minimum wages, employee compensation insurance, notice periods, holidays, sick leave and in many cases the way everyone is paid commissions or bonuses. In some countries, laws regarding maternity leave protect a woman’s job as soon as she declares she’s pregnant. Companies expanding to Asia shouldn’t underestimate the complexities included in HR.

Can that be accomplished within a company’s existing HR department?

It’s always a good idea to do business with someone using the expertise to comprehend the initial requirements, taxes, culture and laws of each one country. For example, you will need someone who will help design a staff handbook that’s congruent not simply using the culture and policies from the organization, but can be compliant with local legislation. An HR outsourcing company can certainly produce a compliance scorecard that identifies all of the requirements from the countries.

Are numerous companies considering expansion to Asia?

About 10-20 percent of middle market businesses primarily domiciled within the U.S. appear looking to do business in Asia. Each of the indicators are that China will become the biggest economy on the globe by 2020, and India the third-largest by 2030. Businesses will want to look ahead and develop their plans for growth. Most are stepping into Hong Kong and Singapore now as part of their future strategy.
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