Taiwan a good place to do business

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Taiwan has spent the years since the Second World War concentrating on creating wealth

Taiwan is successful in attracting business because it is, bluntly, a good place to do business with an excellent infrastructure and dynamic economy. The culture is far more westernised than that of Mainland China and therefore the business outlook is more global.

The way to the heart of the business is through the stomach

The Taiwanese conduct a large amount of business over food. It would be unwise to decline any invitation to dine, as you would be missing out on an opportunity to strike up potentially valuable relationships.

It is rare to be asked to the home of a Taiwanese businessman so the meal will take place in a restaurant. Business is a group affair and rarely conducted one-to-one. Restaurants cater for this by providing private rooms for the proceedings.

Avoid deciding the seating plan. The head decision-maker of the group will make the arrangements, traditionally seating the most important individual person present facing the door. Even if you are getting your answers from a colleague of his who speaks better English and can interpret, make sure you direct your questions to the most important person around the table.

One of the particular Taiwan customs over dinner is to toast before each new dish. They will make eye contact with you and raise their glass; you should return eye contact and drink with them. You too should at some time catch someone's eye and raise your glass in a toast. However, a golden rule when faced with any extraordinary custom is to watch, learn and repeat.

Do your business over dinner. Don't wait to wallow over the coffee because often in Taiwan there will be none. Once the meal is over, the group will leave and disperse.

Relations, Relations, Relations

The Taiwanese golden rule is relations, relations, relations. A first meeting will mainly consist of small talk to find out about you, not the prospective deal. It could take you 18 months to establish this relationship but once established, it's often for life.

Make an effort to learn basic phrases such as "Hello" and "Thank you". Many young Taiwanese speak fluent English, but the older businessman is more likely to be the head decision-maker and it will demonstrate respect that you are willing to attempt the difficult Chinese language.

It has been said that Orientals love a good discount. This is certainly true of the Taiwanese and they will expect to be able to bargain. However, do be firm, a Taiwanese businessman is very worldly-wise and if the quality is good he will be prepared to pay.

Don't expect much business to take place in February. Much like the Christian Christmas holiday period, businesses will almost shut down for The Chinese New Year, which lasts for two weeks and this year, started on 5th February.

The Taiwanese are typically workaholics and will frequently work on Saturday and Sunday mornings. You will be expected to be available at these times especially when on a short visit.

After your visit make sure you keep in regular contact with your new business partners. The Taiwanese will assume that if you are serious about keeping your relationship alive then you are serious about business and you will reap the rewards.

When working abroad, an understanding of the people, politics and economy of that country is crucial to the success of your business.