Bootstrappers can have foreign trade role
If you think economic expansion into China and other growing foreign markets is a realm reserved for Coca-Cola and Starbucks, think again.
According to the San Francisco Chronicle, several San Francisco based entrepreneurs of Chinese descent have moved forward bootstrapping start-up to exploit opportunities in the new world marketplace and the trend may be continuing.
In 1992, San Francisco born executive Thomas Chin opened a four person office in Shanghai marketing solutions to streamline China's goods and services distribution systems.
The office for Chin's Sino American Investment and Development Corp. had grown to 50 employees by February 2002 only a year after China had joined the World Trade Organization opening the flood gates for other foreign business interests.
And even after a U.S. market niche they created for Hong Kong and Chinese mainland cinema attracted major competitors like Columbia Tri-Star, New Line Cinema and Miramax Films, Helen and Bernard Soo's Tai Seng Video is thriving.
Helen says:
"They will pay some crazy dollars. It's more difficult to get product. But we know our market very well. We capitalize on our multilingual staff and our cultural connection to Asia."
Chin adds:
"There's an influx of new players coming in, but they don't have the background. I believe with our experience, we will be able to sustain."
The key to opening trade opportunities, even for the small entrepreneur, whether in China or elsewhere, according to Gaebler Ventures, is to:
• Gain information on foreign markets through the U.S. Government Export Portal at www.export.gov, or by contacting foreign embassies
• Assess possible foreign response to your product or service, possibly by participating in government sponsored trade missions abroad
• Develop alliances with foreign business partners or other intermediaries who can market your product effectively in that foreign market
Gaebler Venture, a Chicago-based business incubator, holding company, and venture capital fund, maintains other extensive information for entrepreneurs at its site.
August 31st, 2007 at 4:42 am
It’s very informative and educative. friends u should be out here to benefit it at large