Whether you’re an old China hand or simply dreaming about the Middle Kingdom, here’s some disheartening news: Forbes states that just under half of foreign businesses (including multi-national corporations) fail in China within two years of entering the market. Meanwhile, according to Bloomberg, 8 out of 10 start-ups flop in the first 18 months globally.
LITAO is a Lithuanian-capital Wholly Foreign-Owned Enterprise. Since starting operations in December 2014 (we passed the two-year cut-off!), we have been following the fast-moving China trends on the news, through numerous books and reports, and most importantly of course, via our clients on the ground.
Three years and many mistakes later, we’re stronger than ever—and we feel confident that our unusual methods of business work. Our secret? Strategy!
To our surprise, we were unable to find a single blog that consistently provides quality content on the nitty gritty of East/West strategy: cultural, political, and logistical. We would like to fill that void with case studies of how others have succeeded or failed in the art of cross-cultural business—what we have learned and what you can benefit from learning.
Every Tuesday, you will find an original post in three languages: English, Chinese, and Lithuanian. Don’t miss out—this is high-level information presented in accessible story-telling and every post will have something actionable for your next venture. Join us—