Valuable insights for strategic market entry
As China’s booming economy is quickly becoming the world’s largest trading and consumer market, the country itself is home to unique and dynamic ways of doing business. New Horizons Global Partners’ team of experts have been a staple in the globalization industry by providing foreign companies with high-quality, tailor-made research projects to ease their international expansion.
Flexible solutions for your expansion into China
Why conduct a market research project before expanding into China?
Key factors to consider in your expansion strategy for China
In order to successfully establish your operations in China, there are a few key factors to consider. Businesses must pay close attention the local regulations that govern employment, legal, and tax compliance. Being 100% compliant with these local regulations is paramount for starting your expansion on a positive note.
Take a look at the additional measures to consider when planning a market research project or expanding into China:
Global PEO / Entity Setup
To be able to begin operating in China, companies have two primary options – establish their own legal entity, or, partner with a global PEO. In this decision making process, business owners must consider important factors such as tax regulations, banking capabilities, and additional expenses.
If you determine that setting up your own entity is the best route for your business, then your business will need to prepare for the additional time and financial resources needed in order to maximize the entity’s potential.
If your business plans on hiring local workers in your China upon the commencement of your expansion, hiring a PEO like New Horizons may make the most sense for your business. New Horizons manages ongoing payroll, benefits, and HR compliance for all of our clients who are expanding or have already expanded into China.
Local talent acquisition & wages assessment
When expanding into China, it is common for organizations to need a local workforce to help them meet their in-country objectives. In order to find and connect with the best talent available, a recruitment strategy is needed so that you can quickly source, hire, and onboard new foreign employees.
In order to maximize the potential of your global expansion into China, you will want to consider partnering with a recruitment agency with expertise on the Chinese labor market. Recruitment providers will provide wage assessments and make sure that your prospective employees will be offered competitive salary rates. This is key for attracting the most skilled professionals available at a competitive rate. Our HR specialists work alongside your company to ensure that all local payment and tax regulations are managed with full legal compliance.
As the only Global PEO in China with a dedicated in-house international recruitment team, New Horizons connects your business to talented local professionals functions as their Employer of Record. This gives your business the ability to fast-track your transition into new markets by removing the need of establishing an international subsidiary.
The process of providing payroll services for a foreign workforce can present a multitude of challenges for expanding businesses. If your company is looking to hire employees directly and without the partnership of a PEO, you will need to establish an entity in each country where you wish to expand. This ensures that employees are paid correctly and on-time, and all tax and benefits payments being handled with compliance to local regulations.
When you work with New Horizons as your Global PEO, you gain a partner who will ensure all employee payments and benefits – including full leave entitlements – are paid appropriately and on-time. This allows your business to achieve full compliance with local employment and tax laws.
Why New Horizons?
New Horizons provides market driven analysis and end-to-end solutions to identify sustainable global expansion strategies. Our team of in-country experts support your business in the process of devising and implementing an expansion strategy that allows you to set a realistic framework for growth.