Sunday 8 April was a stepping-stone for expats in Wuhan looking to build their own businesses. Founders Space Wuhan hosted a free Foreign Business Registration Workshop, where detailed explanations were made for documents and procedures required when registering a company as an expat in Wuhan or in collaboration with Chinese business partners.
Attendees were also given an outline of local government initiatives such as the 3551 talent scheme and preferential policies that encourage entrepreneurship in the Optics Valley area.
A big reason why expats choose China as a study or work destination is the wealth of untapped opportunities. The Middle Kingdom has witnessed massive growth in the manufacturing and service sectors, growth that has also created market gaps and as a result, opportunities for starting new businesses. In 2017, China’s economy grew 6.9%; growth fuelled to a large extent by exports, retail sales and the real-estate market which has stimulated development and placed China in a good position on the global market.
Wuhan finds itself uniquely positioned in this growth period. Its strength as an education hub, combined with comparatively low-costs and reliable infrastructure for startups gives rise to entrepreneurship. In terms of investment in education and training, Wuhan has outperformed other Chinese cities in recent years. Having a comparatively low cost for startups makes Wuhan an ideal city to start your business. So, if you have been putting off making your dreams come true, you are in the right moment and the right city.
Mance Wu (Director of Founders Space Wuhan) started his journey as a consultant for companies and helped them solve problems within their businesses. A year later, he and his partners realised they could provide management and guidance to entrepreneurs at the initial stages of their businesses conception; leading to formation of V+ Founders Space Wuhan.
Founders Space has services that specifically cater for expats, as they understand that Chinese business culture may differ significantly to what they may be used to. Thanks to the V+ Founders Space partnership, some barriers and “red tape” that used to surround entrepreneurship for expats are a thing of the past.
Some services offered by Founders Space Wuhan:
- Basic Service: international office environment with aesthetic taste, helping you combine work & life while maximizing work hours
- Value-Added Service: establishment of multi-directional value-added service system, making the entrepreneurship more focused and simple
- Entrepreneurship Academy: provide the world leading entrepreneurship training courses to provide opportunities to exchange ideas.
- International Service: custom-made overseas plans for enterprises and acceleration into global markets
- Featured Entrepreneurship and Incubation: professional management to help carry out one-on-one entrepreneurship and incubation to accompany enterprises so they reach their full potential