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Almost every entrepreneur starts a business in a city where they can find great entrepreneurship culture. They also choose places where they can invest less and profit more. Launching a startup is the most challenging part for entrepreneurs, but China is an emerging superpower with a stronger economy. It is one of the most advanced countries in the world from every aspect. Because of this, a lot of entrepreneurs set up their startup businesses in China’s capital, Beijing.
So why is Beijing better for entrepreneurship culture than other cities in the world? On Earth, China is one of the most populated countries. A greater population means a greater number of customers. China is 35% cheaper to live than the United States, which means there is a chance of great profit. Beijing is the Silicon Valley of China. You will not only be selling your product to the greater population in China, but also can export it to other countries at cheaper rates.
Benefits For Entrepreneurs In Beijing
Surplus of Talented Employees
The other most challenging part of a startup is hiring a good candidate for a specific role in the company. Beijing workers, such as engineers and marketing strategists, are also the smartest. Hiring these workers can cost a cheaper rate than workers in the United States, which is another advantage for entrepreneurs. Even in a pandemic like COVID-19 the economy and the businesses have become stable again in not only Beijing but all of the other cities in China.
China’s Government Boosts Businesses
Beijing is considered the main hub of business in Asia. The Chinese government favors and welcomes not only their own entrepreneurs but also international entrepreneurs to invest in their country. The Chinese people and government stress more on business than anything else to create job opportunities and drive their economy. You can easily find local entrepreneurs and persuade them to invest in your business.
English Is a Growing Language
You also don’t need to worry about language problems because China teaches English to their students and more people are getting familiar with the language. There is also a great chance of success for digital entrepreneurs. As we know, Youtube, Instagram, and Google are banned in China. For instance. If you’re a web developer, then you can develop an app or website which resembles YouTube or Google and there is a great chance they will rank highly on the app store.
More Visitors for Your Website
Today, China’s population is one of the largest at 1.3 billion, which is approximately 17% of the world’s population. Suppose out of 1.3 billion people your app is downloaded by 1 million. That is at least 1 million visits to your website. These app downloaders or website visitors can generate a good income. Once an app or website finds fame in China, then it’s easy to introduce to other countries. TikTok is just one example in a million. Today TikTok has over 1 billion downloads alone on Google Play Store.
Cons of Starting a Business in Beijing
If I could start a business anywhere in the world, I would definitely choose Beijing after discovering all of its benefits. On earth, there is no perfect place. Everything has its own pros and cons. Similarly, I would love to highlight some of the issues about Beijing, but I don’t think it will have any effect on entrepreneurs or their businesses. As China is one of the most populated countries in the world, this also has some cons.
For instance, there might be a lot of traffic and that can be frustrating and time-consuming. Also, China contributes approximately 30% of pollution to the atmosphere in the world. Because of the high population, real estate might be expensive as people are demanding more houses. However, the Chinese government is taking action on these issues. These issues may be overcome in the future. These issues shouldn’t be an obstacle for entrepreneurs to set up a startup in Beijing.
Do you have any thoughts on why Beijing is good for entrepreneurship culture? Let us know down in the comments.
This article was originally published in GREY Journal.