What Are the Financial Benefits of Doing Business in Taiwan
Taiwan is a small island off the coast of China, which means not many people pay attention to it. But despite being the size of Belgium, Taiwan has 23 million residents (in comparison to 11 million!). This means that if you’re a small business owner and you’re looking to expand internationally, this island nation can be a good place to consider.
Want to hear more? Then keep reading. This article will explore why it’s beneficial to do business in Taiwan.
They’re Heavily Invested in Science and Technology
This comes as a shock to many people, but Taiwan’s home to one of the world’s largest semiconductor companies. Countries all over the world depend on this export, which makes them a powerful player in the tech world.
That’s not all Taiwan’s invested in either. For example, Altek of Hsinchu Science Park was a producer of many cameras, and today, they’re in the field of medical and autotronic imaging.
If you’re looking for a country that’s highly innovative and is at the forefront of technology, then it’s Taiwan you want.
It’s a Fair Country
Many business owners might get taken advantage of, which can result in the closure of their companies. The good news is, Taiwan is a strict protector of Intellectual Property Rights (IPR).
Also, as a people, the Taiwanese believe strongly in keeping their word. They value long-term relationships and investments, so you’ll feel taken care of with any Taiwanese partner you choose.
Their Stock Market Is Doing Well
Because the Taiwanese economy depends so much on exports, it’s doing extremely well in stocks. In fact, it’s considered one of the 4 Asian Tigers, alongside Singapore, Hong Kong, and South Korea.
Currently, its stock market is ranked 18th in the world, which isn’t bad at all for such a small nation. If you’re interested in investing in Taiwan’s stock market, then get more information here: https://www.monexsecurities.com.au/investing-in-taiwan-stock-market/.
It’s a Nice Country to Live In
Thinking about opening a brick-and-mortar business in Asia? Then there’s no better place to live than Taiwan. Taipei consistently ranks high on the best places to live list, and many other Taiwanese cities are fantastic to reside in as well.
The country is clean, and the people are friendly. Most are also fluent in English too, so you won’t have to worry about communicating in broken Mandarin.
Another plus is Taiwan is centrally located in Asia, giving you good access to other countries like Japan, Korea, Vietnam, etc. If you love it in Taiwan and your business succeeds (which it likely will), then it’ll be easy to expand to other Asian countries.
Do Business in Taiwan to See Your Company Grow
When you want to expand into the Asian market, doing business in Taiwan can be an excellent move. Not only is this country at the forefront of innovation and technology, but its stock market is also doing well. And if you want to move to be close to your business, it’s also clean and the people are friendly!
Want more information on doing international business? Stimulate more business growth by reading more of our blog posts!