Friday, November 06, 2009

What's Your Push Into China?

If you run a global small business, and I am assuming many of you do, what should you be doing to swing open that door to China? The first step is to track what others are doing and determine success rates.

For example, innovative healthcare product company Novartis announced on Tuesday that it will spend U.S. $1 billion spread over five years to make China (starting in Shanghai -- pictured) a third global pillar for its research and development. Why? Couple of good reasons:

1. Rapid growth is one key reason for the expansion.
2. Projected to become one of Novartis's three biggest markets by 2014.
3. Revenue in China has been growing at annual rate of 30% in the last few years.
4. Health-care reform alone will fuel growth.

The question Novartis asks is: "Where do you need to be down the road, and clearly it is here." It's a question many of us should be asking and facing but what small business can afford to make the kind of investment required to do business in China?

Do you think at the very least it might be prudent to give Novartis a call or send an email to an appropriate person to see how you might partner with them on some of their initiatives? It's a great way to attempt to crack open the market -- together.

Read more here.

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