How to Register Your Company in China Fast


23 June 2020


Company in China

Setting up a company in China, possibly a WFOE is one of the best ways of entering a rapidly growing market, which is driven by rapid manufacturing, world-class infrastructure, stable government, and global market reach.

To take advantage of this high-potential investment hub, you need to make the first and most important step of registering a company in China. So, how do you go about it?

Why China? Why Open a Company in China?

As an entrepreneur, the primary goal of starting a business is to see it grow and become a big multinational, but that is only possible with the right platform.

This is what makes China stand out from its peers. Everything in China is geared towards making your business succeed. Here are other benefits of expanding your business to China.

  • A large market for your products: One of the factors that you need to get right when determining the place to locate your offshore business is the market size. With a population of more than one billion, investors can rest assured of the great demand for their products.
  • China is the gateway to the Far East and globally too: In addition to the huge local market, China is also strategically positioned, and you can easily access the neighboring Asia markets, including Malaysia, Singapore, India, and Japan.
  • Many areas that you can invest in: There is nowhere else where investment opportunities are as diverse as in China. Although most entrepreneurs are going into manufacturing, you can also invest in agriculture, hospitality, and telecoms, among other areas.
  • Well-developed infrastructure: Whether you are in industrial processing or services sectors, you want an investment hub with well-developed infrastructure that can easily move raw materials, finished products, and labor. In China, both rail and road networks are world-class, allowing you to cut production costs and enhance the efficiency of your enterprise.

How to Register a Company in China

Now that you know the special benefits of registering a business in China, it is important to appreciate that a business can take several forms, including branch office, joint venture, or a wholly-foreign-owned enterprise (WFOE).

However, it is the WFOEs that are more popular because they provide you with full control over your enterprise. To register a WFOE, here are the main steps to follow:

  1. Select the business scope.
  2. Identify the preferred location.
  3. Pick the right business formation.
  4. Create a business plan.
  5. Submit the company name for pre-registration.
  6. Acquire a Letter of Approval from the Ministry of Commerce.
  7. Sort all the documents, including a pre-registered Chinese brand, the company’s legal address, articles of association, registered capital, and feasibility study.
  8. Register your businesses with the Public Safety Bureau.
  9. Open your company bank account and register with the tax bureau.

Every year, China is emerging as the business hub of choice for investors, and you should not be left behind in taking advantage of this high potential jurisdiction. Remember to follow the process of registration carefully, ensuring to get all the required approvals and documentation. When it comes to business, you cannot go wrong with China.

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Enhance Stakeholder Management

How To Enhance Stakeholder Management In Projects With Agile Integration

Agile methodology has revolutionized the way projects are executed, focusing on iterative development, flexibility, and continuous feedback. However, its significance goes beyond just development processes; it also brings a fresh perspective to stakeholder management. Integrating agile principles with stakeholder management practices can lead to improved collaboration, enhanced communication, and ultimately, more successful project outcomes. In this article, we'll delve into the nuances of Agile Stakeholder Management and how it can be effectively implemented. Agile Principles And Stakeholder Management Alignment Agile principles are rooted in customer collaboration, responding to change, and delivering value quickly. These principles align closely with stakeholder management, where understanding and meeting stakeholders' evolving needs is crucial. In traditional project management, stakeholders are often engaged only during predefined phases, while Agile involves stakeholders throughout the development lifecycle. This continuous engagement allows project managers to gather real-time feedback and ensure that the project aligns with stakeholder expectations. Some Of The Key Features And Characteristics Of Agile Management Agile management has some of the key features that put it before other approaches to managing projects. Let us try to understand them here.  Continuous Adaptation Agile project management, as the name suggests, favors change. It embraces persistent adaptation. The businesses that use this approach work on the subsequent project better than the previous one. While these organizations create a plan ahead of them, they often focus throughout the process.  Transparency You already know that the consumers were the key elements of the Agile approach. This is the reason they need transparency throughout the process of development. If the stakeholders use the particular approach, it can win the customers’ confidence.  The process is quite transparent so that even the customers can point out the mistakes. This transparency makes sure that the stakeholder delivers their expectations. Establishing Collaboration Another key feature of the Agile management process is its collaborative nature. During the development of the process, the team members share their inputs to improve the product.  Working together allows the member associated with the project to learn from each others’ skill sets. In the present workplace, most projects are team games. In this case, this feature can benefit. Efficient Communication Efficient communication and then sharing the nitty-gritty of the project idea is one of the characteristics associated with the project. It involves making use of the most efficient communication technology.  Customer Satisfaction  The main feature or, say, priority of agile management is customer satisfaction. It is significant to procure feedback from them. Customers, being the king in the market, have expectations from the company. The Mode or approach is successful because it involves receiving feedback from the customers.  What Are The Benefits Of Agile Technology  As we discussed, some of the key features of agile technology are highly beneficial in catering to the needs of the customers. Below, we discuss some of the benefits that you can reap from agile project management. Frequent And Transparent Communication One of the core tenets of Agile is constant communication among team members. This principle can be extended to stakeholders, fostering an environment of transparency and shared ownership. Regular communication updates, such as sprint reviews or stand-up meetings, provide stakeholders with insights into project progress, enabling them to raise concerns or provide feedback promptly. This iterative feedback loop minimizes the risk of misalignment and ensures that stakeholder input is valued and incorporated. Empowered Stakeholders Agile emphasizes the importance of self-organizing teams. Similarly, stakeholders can be empowered to take an active role in the project. This empowerment includes involving them in decision-making processes, prioritization discussions, and even encouraging them to participate in sprint planning. When stakeholders are actively engaged, they develop a sense of ownership and are more invested in the project's success. Adaptive Requirements Management Traditional project management often treats requirements as fixed and defined upfront. Agile, however, recognizes that requirements evolve as the project progresses. Stakeholders play a critical role in this aspect by clarifying requirements, providing input on changes, and validating interim deliverables. By keeping stakeholders closely involved in requirements management, projects are better equipped to adapt to shifting priorities and emerging opportunities. Building Trust Through Collaboration Stakeholder trust is vital for project success. Agile methodologies encourage collaboration and collaboration builds trust. Inviting stakeholders to participate in collaborative sessions, such as user story mapping or sprint planning, fosters a sense of partnership rather than a client-vendor relationship. This approach creates an environment where stakeholders feel valued and are more likely to offer their expertise and support. Effective Feedback Incorporation Agile projects thrive on continuous improvement, and feedback is at the heart of this process. Stakeholders' feedback provides insights into what is working well and where adjustments are needed. This feedback can be incorporated into subsequent iterations, leading to a refined end product that aligns closely with stakeholder expectations. Challenges And Considerations While the integration of Agile principles with stakeholder management offers numerous benefits, challenges can arise. Because of this, stakeholder management software is often used to help adhere to Agile principles to avoid challenges. Balancing the needs of diverse stakeholders, managing expectations, and ensuring that continuous engagement does not lead to scope creep are some challenges to navigate. Clear communication and a well-defined governance structure can help mitigate these challenges. Emphasizing Flexibility Agile methodologies have brought about a paradigm shift in project management, emphasizing flexibility, collaboration, and delivering value iteratively. When these principles are integrated with stakeholder management practices, the results can be transformative. Continuous Engagement Agile Stakeholder Management promotes continuous engagement, transparent communication, and empowered stakeholders, ultimately leading to better project outcomes and stakeholder satisfaction. Create An Environment Where Stakeholders Are Partners By adopting an Agile mindset in stakeholder management, project managers can create an environment where stakeholders are partners in success, rather than distant observers. As projects continue to evolve and the needs of stakeholders become increasingly dynamic, the fusion of Agile and stakeholder management will play an instrumental role in shaping the projects of the future. Conclusion The Agile approach to project management is highly effective as it involves effective collaboration and communication of the stakeholders directly and indirectly with the project. Most importantly, the clients or the consumers are a part of this management, which brings in attaining transparency.  Read Also: Top Ways Contract Management Software Helps to Mitigate Contract Risk Why Should I Get Started With Event Management Software? Which Marketing Mix Element Deals Specifically With Retailing And Marketing Channel Management?

Customer Service

7 Tips To Improve Personalized Customer Service

Communicating with customers by their first name is a well-known good practice in personalizing interactions. This gives them the sense of being more than just an income-giving entity. However, personalizing the customer service experience is beyond that. Generic automated responses especially if it does not answer the specific question of the customer can be put offing. Moreover, customers can recognize insincere words or sugarcoated phrases. Checkout Seven Prime Steps Help You To Improve Personalized Customer Service: Here are some pointers for a more personal approach to customer service. 1. Gather as much information as available There are several ways to gather information from the customer these days. Social media, surveys, and web tracking are a few examples. Social media is easy as most people post their lifestyle over it. If their profile is public then their information is more accessible information already. Surveys and feedback forms are powerful tools, too. It can be very specific to the product improvement or service enhancement your customer wants. The downside is that the customer may not have the time or willingness to fill out those sheets. Web tracking analytics offer more juice. This is done mostly by your website. Ensure to give them choices on the cookies being collected though. It shows customers that you respect what they want to share or not. 2. Find a good CRM Customer Relationship Management (CRM) software is a powerful business tool. There is a wide variety of it available in the market. Acquire the one that best suits your enterprise. CRM helps you streamline your business processes. Additionally, these platforms make it easy to follow a customer’s history that is otherwise scattered across various digital spaces. In turn, you have a better understanding of the customer. 3. Consolidate each team’s interactions CRM enhances collaboration as well. However, there are other contact management apps, such as Shared Contacts for Gmail, that do the job. Moreover, these apps are not as pricey as CRMs.  Contact management apps are avenues that allow your team to collaborate regarding a customer. These programs can be an avenue where anyone in your organization can share their interactions with the customer. The information gathered on personal interactions with the client is vital. It reflects how the customer specifically feels about your product or service. The more data gathered the better insight can be concluded in order to close the sale. 4. Emphasize privacy permissions As mentioned earlier, web tracking analytics should be clear with the customers. Yes, it is important to gather as much data as possible. But, the manner of collecting them matters, too. Be clear to your website visitors as to what type of cookies you use. This gives them a sense of respect for their privacy. In turn, they’ll know that you are not abusing the data you have gathered from them. 5. Reasonable response time Responding immediately may sound spammy. Responding too long can project inattentiveness. Furthermore, you may give the impression that you didn’t receive their queries, hence customers will find another vendor. Responding within an hour or two is reasonable enough. Albeit the reply within 24 hours is fair. If you cannot respond promptly, send a note saying you will respond when you can do so in detail. 6. Reward loyal customers Your best salespeople are your loyal customers. They recommend your goods to people and you don’t have to pay them. They leave positive comments on your social media. Additionally, they may even answer prospective customers’ questions. Hence, it is just fair to compensate for their brand loyalty. You can do so by offering your devoted customers special discounts and freebies. Another way is to give them early access to new products. You may also invite them to events like product launches or sponsored concerts. 7. Take care of your customer service personnel If you are employing people to do customer service, you must make sure they are loyal to the company as well. If your customer service people are not happy with their job, it would reflect in their tone of voice. As mentioned earlier, customers can sense if the words are hollow. Therefore, create a good workplace atmosphere for your employees so that they can project it to your customers. It also helps you have a high employee retention rate, meaning no need for constant training and adjustments to the team dynamics. Takeaway: Providing personalized customer service is achievable through various tools in data gathering and customer relationship management. Enhancing the customer service experience also requires bettering not only external approaches but also internal processes as well. Read Also: Is Consumer Services A Good Career Path?Customer Service Gripes Revealed In New SurveyHow Customer Service Is Impacting Your Business In 2022!

Management Software

Five Reasons Your Business Needs Incident Management Software

There are all kinds of ingredients that go into making a business successful. You have the obvious things such as providing products and services that customers/clients want and need, you need both online and offline marketing tools, a strong business plan and, of course, cash flow. Then there are those things that don’t always get talked about as much, but that can help to streamline processes, provide a better customer experience, save the company money, and just make things more efficient overall. One of those less talked about tools in ensuring that your business reaches its maximum level of success is IT incident management software. Now, this may not be something your company currently has, nor are you convinced you need it. Here we’ll take a look at the top reasons your business does, in fact, need the software, and why it’s time you went ahead and invested in it. It's All About Efficiency: When it comes down to it, efficiency in a business can either make it or break it. If a company has found ways to be efficient in all different aspects and levels of the company, then its odds of being successful are much better. IT incident management software is a great way to improve efficiency. Sure, your IT staff are important, and they probably do a great job, but they also need the right tools at their disposal. This kind of software allows them to elevate their degree of effectiveness in your company. Take, for example, theSysAid ITIL incident management software, which allows users to log, manage, process, and then report on any and all IT issues that arise. It’s a streamlined approach that ensures all incidents are caught and made note of, so they can be corrected. Make It Possible for Employees to Work Remotely: Today there is a real push for employees to be able to work remotely, but that also means they need the right tools at their fingertips. With incident management software, they will be able to access it no matter where they are, which means they won’t miss a beat. Put in Place Standardized Procedures: With dedicated IT management software, there will also be a standardized process that is put in place. This means all staff will need to follow a specific list of procedures and steps, which means everyone is on the same page and nothing slips through the cracks. It helps to eliminate questions regarding what each person is expected to do when an incident pops up. Enjoy Cost Savings: By using incident management software, you and the company can also enjoy reduced costs. This type of software is designed to save money and time, which helps the bottom line. Prioritize the Workload: Another way this software can help us to prioritize the workload and tickets. Let's face it, not all issues are urgent; some can stand to wait a bit. A Wise Investment for Businesses: When looking for ways to streamline your business and make things more efficient, IT incident management software could be the solution to all your problems, thanks to the many benefits it provides. Read Also: Tips To Choose The Best Inventory Management Software