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Challenges

Entrepreneurial Opportunities and Challenges in Asia

In these countries there is the easy availability of amazing workers, purchasing power capabilities and much more through which you can easily convert your dreams into reality
Entrepreneurial Opportunities and Challenges in Asia
Image credit: Shutterstock
CEO, PolicyX.com
4 min read
Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

In all around the world, there are several opportunities for aspiring entrepreneurs, not in their country only but also in several different parts of Asia as well. With the growing Asian economy, there are many western entrepreneurs who are investing in different countries that include India, Indonesia, China, and Thailand among others.

All of these economies are rising at a faster rate as compared to other ones in Eastern Europe and Latin America. Still, it is a point that you should note that despite the support from government support, business-friendly and open for foreign investment among others the entrepreneur might find it tough because of several reasons.

Business Challenges

First, the rules, regulation and the bureaucracy in such countries means no matter how much the entrepreneur is connected locally. He/she faces many hurdles when it comes to land, licenses and several other such approvals. Moreover, in some countries, the legal system is very slow-moving and it might take a long time in solving and dispute and any other legal work and, most important it would be subject to old laws.

Second, despite the courage and excitement of the next level, budding entrepreneurs might have to deal with the state and provincial governments who carry their own rules associated with the business and managing commerce.

Third is that, when we talk about these countries, the infrastructure is not that great. There are no proper roads. Poor supply of power, urban issues, water shortage and much more. Budding entrepreneurs might have to deal with such challenges as well.

Fourth is social stability and unrest that comes out as risk factors when it comes to women safety unless you are planning to have a limited staff.

Growth Opportunities

It is true that the whole picture looks gloomy but it is not like this only, there are many benefits of being an entrepreneur in these countries as well. There are many opportunities in these countries that can help an entrepreneur in converting their dreams into reality. Secondly, the wages are low as compared to the western standards that mean you can successfully run your business at a very low cost. There are several growth opportunities are coming out because of the purchasing power which gives rise to the untapped market. 

Finding the Balance

It is a fact that where are the challenges there will be opportunities as well. Finding the balance is completely depends upon the entrepreneurs so that his/her business can easily meet the new heights. There are a number of ways through which the entrepreneur can attain success. This requires creativity as well.

Booming Sectors

In these countries there is the easy availability of amazing workers, purchasing power capabilities and much more through which you can easily convert your dreams into reality. If we look at the numbers of the startups in recent years then we can easily notice the increasing rate and opportunities as well.

If we look at the success rate of e-commerce ventures in Asian countries and especially in India and China. In such countries, companies like Alibaba and Flipkart are growing rapidly means that there are still many opportunities that you can use to grow further. This is the reason behind the interest of many venture capitalists and investors in these companies. 

Growth a Necessity

All of the Asian countries are trying their best to use the power of entrepreneurs. People and government realize the importance of growing and making sure that each and every youngster is getting the job at the right time. That's why such companies are not waiting for growth to happen, instead of that they are trying hard and picking out ways to make it happen.

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