Gone Global
- Trading Places
Who has petrodollars to spend? Where can you sell construction equipment? Jewelry? Management consulting? And where is the market that grew an astounding 55,414 percent last year? Read on. - Gone Global Interactive Map
- How to Get Ahead in China
When Mitch Free first went to China, he didn't know a thing about the place. He listened. He learned.He was respectful and polite. Now he gets it, and his business is booming. - Getting Going
Five steps to opening an office in China. - Paradise the Hard Way
What does it really take to build an island resort, a dream come true in the tropics, a place where work and fun and family all blend seamlessly? Hint: Note the machetes. - Getting Going
Five steps to opening an office in China - America's Biggest Customers
Which nations across the globe are our top trading partners? A look at 2007 U.S. export data. - The Top 10 Export Markets
Which nations saw the biggest gains in export activity in 2007? A look at the top markets. - The Oil Boom
With oil over $100 a barrel, oil-rich nations are thriving. So who has the most to spend on U.S. exports? - Center of Attention
Many U.S. entrepreneurs are going global, but not giving Central America immediate attention.
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Getting Going
Five steps to opening an office in China.
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COMMENT ON THIS ARTICLE- Get a lawyer
Hire law and accounting firms with offices in the U.S. and China. The Chinese government doesn't always tell companies about rule changes, and only rarely in English. - Register
MFG.com is registered as a wholly foreign owned enterprise, which allows it to sell in China. The company also had to register with the district level Administration of Industry and Commerce, the provincial level Shanghai Foreign Investment Commission, the national Ministry of Information Industry, and the Shanghai Telecommunications Administration. It's tough to know ahead of time which agencies will require registration. Since it's hit or miss, hire a local adviser, and be prepared to wait.
The all-important chop Many Chinese agencies won't accept signatures. You need a chop, or stamp, with a company official's name in Chinese. - Find a bank
MFG.com opted for a Chinese bank that would accept foreign capital and would let it view account information from U.S. headquarters. All MFG.com funds wired to China have to be audited by a local accountant with the proper certifications. - Set up an HR system
Salaries are negotiated differently in China than in the U.S. Says Free: "Let's say you offer someone 80,000 renminbi a year, which would be, like, $11,000. They say, 'OK; for how many months?' You're like, 'What?' They don't really negotiate the price; they negotiate getting [for example] 16 months' salary paid in 12 months. So instead of trying to move the number, they move the months."
Countless promotions Chinese employees often expect to be promoted several times a year. Title changes are often seen as more prestigious than salary increases. - Get an office
Harder than it sounds. To get an office, a company needs a business license. To get a business license, a company needs an office. MFG.com had to search around until it found a landlord who would agree to provide space pending MFG.com's getting a business license, which did the trick.
Naked offices In China, companies leaving an office typically must strip the space, including carpeting, lighting, and fixtures.
