{"id":37696,"date":"2023-10-20T14:51:48","date_gmt":"2023-10-20T14:51:48","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/six-tips-for-doing-business-in-asia-as-an-australian-startup-startupsmart\/"},"modified":"2023-10-20T14:51:48","modified_gmt":"2023-10-20T14:51:48","slug":"six-tips-for-doing-business-in-asia-as-an-australian-startup-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/six-tips-for-doing-business-in-asia-as-an-australian-startup-startupsmart\/","title":{"rendered":"Six tips for doing business in Asia as an Australian startup – StartupSmart"},"content":{"rendered":"
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Whether you believe in the concept of the Asian Century or not, the fact is that many Asian nations are fast emerging as political and economic powerhouses – Singapore, Hong Kong, Indonesia, the Philippines and Malaysia all present Australian businesses with attractive, high-growth opportunities.<\/p>\n

Because of our proximity to Asia, Australian business owners need to make themselves more \u2018Asia-capable\u2019, particularly as the Asian marketplace continues to present us with valuable opportunities.<\/p>\n

This means we need to have an intimate understanding of the local culture and business etiquette, which closely intersect in Asia.<\/p>\n

Here are some things I\u2019ve learnt from expanding Appscore into the Asian market.<\/p>\n

1. Have a local partner on the ground<\/h3>\n

A local partner will have greater insight into the market, and will be able to translate your ideas into workable solutions.<\/p>\n

Bureaucracy can be hard enough to understand in your home country, and it can be even more overwhelming to make sense of when expanding your business overseas.<\/p>\n

When Appscore made its first moves into the Asian market I ensured I had a knowledgeable team of local associates who could help me make sense of any red tape, as well as the non-economic factors such as religion and loyalty structures. Unlike in Australia, these can be a powerful influence over a business\u2019s growth.<\/p>\n

If you\u2019re considering expanding into Asia, keep in mind that a large proportion of Australia\u2019s international students are coming from Asia, which means we have a huge pool of talent to develop and tap into for their local knowledge.<\/p>\n

When building your team overseas, be sure to reflect the diversity of the country in which you work \u2013 it will prove your cultural sensitivity.<\/p>\n

2. Turn to local bodies for advice<\/h3>\n

Austrade isn\u2019t your only go-to. Local bodies like Hong Kong\u2019s InvestHK and Singapore\u2019s Enterprise Development Board are available to advise on local practices as well as local regulations and customs.<\/p>\n

3. Make the most of technology<\/h3>\n

I make the most of cloud technology to conduct much of Appscore\u2019s overseas operations, which, coupled with my local partner, means I\u2019m not required to fly over there that often.<\/p>\n

There\u2019s a belief that doing business in Asia \u2013 or anywhere overseas \u2013 is very expensive but we find that it\u2019s possible to establish a solid presence without spending an unreasonable amount of money.<\/p>\n

4. Research the society in which you plan to operate<\/h3>\n

What are their religious beliefs? What are their thoughts on social hierarchy? What are their family values like? What are their attitudes towards punctuality and time?<\/p>\n

All of these factors will inform how you interact with your counterparts in Asia. Equipping yourself with this knowledge will help you to do business more comfortably.<\/p>\n

5. Learn about saving face<\/h3>\n

In business situations, people in Asia tend to operate in an introverted manner. This means they might feel uncomfortable if placed in a situation where they\u2019re required to give a yes or no answer.<\/p>\n

Building trust with business partners in Asia takes time. In one-on-one situations, however, you might find it easier to have a more open and frank discussion.<\/p>\n

6. Inform yourself of customs and traditions<\/h3>\n

As you build business relationships you might be asked to attend festivals or gatherings at associates\u2019 homes.<\/p>\n

Behaving correctly at these events is just as important as behaving professionally at a business meeting. Find out what gifts you\u2019re expected to give, and if there are any customs you need to follow.<\/p>\n

Competition in Asia is intense and business is fast-paced.<\/p>\n

I faced a lot of scrutiny as I familiarised myself with the customs and traditions and learnt to adjust my tone of voice and even my body language.<\/p>\n

You will need to prove your worthiness and ability to keep up with the rapid pace at which business is conducted, while still maintaining an air of courteousness and respect.<\/p>\n

Follow StartupSmart on<\/em> Facebook<\/a>,<\/em> Twitter<\/a>,<\/em> LinkedIn<\/a><\/em> and<\/em> SoundCloud<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Whether you believe in the concept of the Asian Century or not, the fact is that many Asian nations are<\/p>\n","protected":false},"author":2,"featured_media":61847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/37696"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=37696"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/37696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/61847"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=37696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=37696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=37696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}