1. DreamMaxima can help you discover more details in Chinese on the net, while using the most widely used Chinese search engines like yahoo and government’s data
2. DreamMaxima does Chinese keyword research, search engine optimisation strategies and collects details about the problems you might encounter
3. Taiwan company registry can help you grow the most valuable relationships running a business by uncovering company truth, and hire well-trained Asian workers, buy things from China, Hong Kong, Taiwan, Japan
You could face the following challenges while working in Taiwan.
Taiwan carries a relatively small market quite a few competition : Taiwan is often a geographically small place having a relatively high population density when compared with other Asia Pacific markets. As a result for any highly competitive market with greater limitations on resources and business.
Forge strong relationships and business networks : Networking is a valuable part of doing business in Taiwan as ‘who knows who’ is especially regarded. Look for a local partner or engage a senior manager ahead of time to help you forge and look after robust business networks.
Communicating in Mandarin : Though there are English-speaking people in Taiwan, it’s helpful and practical in order to communicate in Mandarin or Taiwanese. Recruiting a translator or getting a bilingual business partner is recommended : particularly when you’re negotiating contracts or discussing legal matters.
Emerging markets in Asia present significant growth opportunities for businesses, but they also pose many challenges when it comes to culture differences and government regulations.
How do HR requirements differ when setting up a business in Asia?
The concepts are similar – payroll and benefits – but statutory requirements are much different than in the U.S. and they also vary based on country. For instance, all employees in Hong Kong have a very mandatory provident fund that needs a Five percent contribution by the employer along with a Five percent contribution by the employee. In Singapore, there exists a mandatory central provident fund as well as the average employer contribution is 15.Five percent; that’s an important difference.
There’s also differences regarding minimum wages, employee compensation insurance, notice periods, holidays, sick leave and in many cases the manner in which people are paid commissions or bonuses. In most countries, laws regarding maternity leave protect a woman’s job the moment she declares she’s pregnant. Companies expanding to Asia shouldn’t underestimate the complexities associated with HR.
Can that be accomplished inside a company’s existing HR department?
It’s usually a good idea to use someone with the expertise to comprehend the initial requirements, taxes, culture and laws of every country. For instance, you will need somebody who can help design an employee handbook that’s congruent not simply with the culture and policies of the organization, but can be compliant with local legislation. An HR outsourcing company can certainly produce a compliance scorecard that identifies all the requirements of the various countries.
Are many companies considering expansion to Asia?
About 10 to 20 percent of middle market businesses primarily domiciled in the U.S. state seeking to trade in Asia. Every one of the indicators are that China will become the most important economy on the globe by 2020, and India the third-largest by 2030. Businesses could consider looking ahead and develop their plans for growth. Most are coming into Hong Kong and Singapore now as part of their future strategy.
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