Abstract
Entrepreneurship is crucial to the advancement of nations. Nevertheless, entrepreneurs cannot function in solitary confinement; they need the right atmosphere to succeed. Entrepreneurship is not just “starting a company”. Entrepreneurship is a mechanism that recognizes opportunities, allocates capital, and generates value. Such value development also happens by recognizing unmet needs or finding incentives for improvement. It has become much easier to do business in and with China than it was a decade ago. Yet doing business does not mean everyone makes money. After its economic reforms, China has embarked on exponential growth within the past three decades, now the second-largest economy in the world. Nonetheless, even with opportunities available, the various obstacles in China restrict foreign entrepreneurial activities. This study recognizes these obstacles and acknowledges that the common denominator is the challenge of new and growing entrepreneurial firms: government policies and initiatives, education, and growth in the vicinity of entrepreneurs. Questionnaires were used to gather data to discover foreign entrepreneurs’ problems and opportunities. This paper provides detailed information about the challenges and opportunities faced by foreign entrepreneurs in China.
Highlights
This paper provides detailed information about the challenges and opportunities faced by foreign entrepreneurs in China
After opening up foreign trade and investment backed by implementation of free-market reforms in 1979, China was among the fastest-growing economies in the world, with real annual gross domestic product (GDP) growing by an average of 9.5 percent through 2018 (CRSR, 2019)
This study aims to address the gap in literature by exploring opportunities and challenges across China, and Beijing and Shanghai
Summary
After opening up foreign trade and investment backed by implementation of free-market reforms in 1979, China was among the fastest-growing economies in the world, with real annual gross domestic product (GDP) growing by an average of 9.5 percent through 2018 (CRSR, 2019). Entrepreneurship is more than just starting a business It is a process by which individuals identify opportunities, allocate resources for value creation. This creation of value in a larger sense is often the result of identifying opportunities for change. Entrepreneurship is a profitable way of finding a solution to problems (Calvin, 2003)
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