One of the most significant occurrences of the last year was the completion of the long-awaited free trade agreement between Australia and China. The doors to trade have been flung open by the FTA, meaning more organisations in a greater number of industries will be able to create business relationships with the Asian superpower, recently announced as the largest economy in the world.
The deal works well for many Chinese companies, of course, as the swelling population of more than 1.35 billion struggles to meet production demands. There is also the spread of knowledge that Aussies in many areas of the service sector will be able to share through outsourcing.
All this means that Australian businesses have a new market in which to supply their wares and ultimately grow. However, a recent report from Deakin University, in collaboration with the Open University of Hong Kong, shows that many Australian organisations are struggling to network in a meaningful way with their overseas partners.
Aussie SMEs not networking enough
The culture in Chinese business, Deakin University explained, requires a great deal of communication, something that smaller companies in particular are struggling with.
"Simple as it may sound, the researchers found that many small to medium enterprises (SMEs) struggled to undertake the type of intense networking needed to build relationships in a culture where business lives or dies based on its network," the report explained.
The two universities took a sample of 40 SMEs across a range of industries during a five-month period. Researchers analysed the findings and discovered that many Aussie businesses were struggling to find the time to develop an adequate and constant dialogue with their Chinese contingents. One of their main failings, the study showed, is a lack of "development of networks to facilitate doing business in China".
A simple solution
A business looking to work in the Chinese market and with demanding partners will need a personalised and easy-to-use communication method. To this end, both teleconferencing and web conferencing hold particular advantages.
A teleconferencing service, for example, is a highly personalised way of linking groups of people overseas. It is also:
- cost effective, being 28c per caller per minute to China
- quick and simple, taking a matter of minutes to set up
- offers the ability to put more than 200 callers into the same conversation
A web conferencing service offers similar advantages, while also being primed for visual information. This means it is:
- easy to understand, helping to scale any language barrier
- collaborative, promoting participation among all parties
- memorable, through the high information retention levels that come with visual data
All the while, these services keep overseas partners communicating at a moment's notice, and importantly keep the costs down too.
If you would like to know more about the distinct benefits of a teleconference or web conference service, contact Express Virtual Meetings today on 1300 849 300, or chat to our specialists online.