The China Market is huge and doing business in China can be so confusing and challenging to navigate.
Carsten Primdal is the founder of Vantage Compliance & Mitigation, an offshore supply chain consultancy specialising in assisting businesses from Europe, USA, Japan, Australia to set up business in China and manage risk and compliance regarding their Chinese supply chain operations
Carsten generously shares with us what the new China Free Trade Agreement with Australia means for us, how many different business structures there are in China, the pitfalls to avoid and how he is able to assist companies to set up premises and businesses in China successfully.
Carsten shares his top tips to ensure success in this lucrative marketplace:
1. Understand the culture and business etiquette
2. ‘GuanXi’ Build a trusted network
3. Take the time to build relationships and always ‘give face’ to your business partners
4. Understand the language (at least enough for the pleasantries!)
5. It DOES matter which pen you use when filling out forms! And so much more …
During the last +15 years working with and in Asia in corporate compliance, supply chain and risk mitigating professional services, Carsten has developed a perspective and understanding of the challenges faced by companies dealing with and in China and Asia.
Since establishing his own business in 2007 he has assisted global brands such as ALDI super markets (HK sourcing office) and Lindt (chocolate) with their supply chain issues in China. In addition hereto, Carsten has successfully delivered projects in Hong Kong, Japan, India, Bangladesh, Thailand, Cambodia, Malaysia, Spain and Denmark.
Carsten runs Vantage Compliance to help small and medium businesses to find reliable suppliers in China. Carsten’s first book, “Red Flag – Your guide to risk management when buying in China” is now available at the link below.
Where to find Carsten