Why are these financial services companies offering trading consultancy and trade fair assistance?
In Hong Kong and Asia, much like the rest of the world, the financial services market is very competitive. Recently there have been many new start-up companies in the wake of the global financial crisis pertaining to offer you the best wealth management and financial services. These companies are mainly made up of individuals with a rich financial or legal background with a wealth of knowledge in the finance industries.
Many of them were made redundant by banks and investment firms or got out while the going was good. With the increasing number of these firms it is difficult to know who to trust, who to listen to and who to avoid. When it comes to trade and manufacturing issues, its best to look to people within the industry to get a clearer understanding of what is needed.
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I have noticed recently a spate of financial services firms advertising and promoting new services that relate to ‘trade fair assistance services’. Firms that offer finance company setup and tax efficiency services should be very knowledgeable in their own industry. When this crosses over to ‘trading assistance and trade fair assistance’, be very wary.
These two industries are very different and just because a financial consultancy company operates in a certain geographical area, this does not necessarily make them experienced and knowledgeable in other industries. This is especially true when talking about technical solutions to trading and manufacturing issues.
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What is Trade fair assistance?
Deciding to get on a plane and fly to China to a trade show can be a daunting concept. Taking on the cultural barriers of some of the world’s largest annual fairs can seem impossible. This leads many to reach out to one of many companies claiming to offer Trade Fair Assistance, companies that claim to offer on the ground support for your visit.
Be warned! Many of these companies do not offer any real value or benefit to you. Remember these are international annual events catered for you, the customer.
Before handing over your money and trade secrets to any company, be sure of two things:
- Do you need Trade Fair Assistance?
- Are you being offered a service that matches your needs?
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An opinion from a foreign trading company in China
We live in a small world these days. World markets rely on each other and what affects one country will invariably affect another. We have become so intertwined with who owes what to whom, and whose debt is held by whom to the point that the current looming European financial crisis has further unveiled the intricacy and co-dependency between Europe and China.
Europe is China’s largest trading partner. Europe has provided two decades of foreign investment, year-on-year solid bilateral trade and decades of technology exchange that has benefitted China’s rapid development. China has in turn provided Europe with the workforce and large scale production that has allowed businesses on both sides to grow and profit.
The present financial situation is almost entirely Europe’s fault, caused by poor fund management and reliance on a single young currency while member nations ignore policy and allow overspending. The mistakes made should be admitted and stricter rules enforced if they are to expect any further confidence in them and the Eurozone. Anyone considering aiding Europe needs to seek genuine assurances of change to the status quo before any assistance is to be offered.
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