Orange County businesses consider overseas possibilities
Orange County companies are encouraging local entrepreneurs to consider worldwide expansions. Taking an overseas trip is more than a vacation for many county business owners, and the growth of their enterprises could impact the area's economy and the homes for sale in Orange County.
In September 2012, the Orange County Business Council (OCBC) held a panel discussion designed to give local business owners insight into what it takes to extend their outreach overseas, OC Metro reports. The discussion titled "Doing Business in China" included four business executives who addressed a variety of topics, including how county companies can benefit from developing international connections.
"The most important thing to emphasize for smaller and medium-sized companies is that doing business in China very doable," Morgan McGrath, head of international banking for J.P. Morgan Chase and one of the event's panel members, told the magazine.
Why should Orange County companies pursue international business?
There are several reasons an Orange County business owner might be attracted to the idea of doing business in China.
Smart Business notes that many U.S. firms have technology that is unavailable in China, which makes American business partners ideal for Chinese firms.
"There is a demand and need by so many Chinese companies that have capital and want to expand their business but don’t have the technology a lot of U.S. companies have," Julia Zhu, senior counsel in Dykema Gossett LLP's corporate finance group, told the source.
The OCBC states that the county present numerous opportunities to local business owners. These professionals have companies that are located near Los Angeles International Airport, which can make overseas travel easier. Additionally, the council anticipates that the county's exports to China will surpass the $2.5 billion mark by the end of 2013.
Resources available to Orange County business owners
Expanding a business is no easy task, but resources are available to Orange County business owners that can help them achieve long-term goals.
For example, the OCBC has been a part of the community for more than a century, and promotes economic and workforce development throughout the area. The council represents businesses with more than 250,000 workers and seeks to improve the quality of life in the county by supporting local companies.