Talk with Founders of Qbridge (I)
For over 7 years, Oden has served thousands of international clients, registered hundreds of successful companies and administered more visas than one can count. Behind this accomplishment is Wendy Wen, one of the Founders of Qbridge.
We sat down with Wendy to ask about her entrepreneurial journey, what things to keep in mind before starting a WFOE, and China’s ever-evolving business environment.
01
Q: You’ve been an entrepreneur for many years now. What are the biggest lessons you’ve learned so far?
A: Love what you do, be responsible for your customers and always consider the wellbeing of your employees.
02
Q：Describe your team at Oden with 4 words.
A: Reliable, enthusiastic, resourceful, and creative
03
Q: How has the business environment in China evolved over the past year?
A: The Chinese government has always been open to investment, welcomed foreign investment enterprises, and has repeatedly simplified the process of establishing investment enterprises while lowering the threshold for transfers.
Of course, there is no denying that the increase in domestic labor costs has led some investors to move to the Southeast Asian markets. I think this is also an inevitable result of China’s economic transformation.
04
Q: What are the biggest challenges for foreign business owners now?
A: After the global economy experienced a downturn due to the epidemic, the question remains whether investors have enough confidence to find the right time to invest in China.
05
Q: Is there any advice you would give to someone that wants to open a WFOE in 2023?
A: Don’t hesitate to take this step if you have considered all the aspects of operating a business in China clearly. But before doing so, you need to:
understand the company’s tax and work visa processes and other relevant national policies;
make sure there’s a demand for your products and/or services;
be aware of the potential risks and have some venture capital;
devote yourself to your entrepreneurial projects and build your network, which is critical in China.
06
Q: Can you leave us with a quote or a piece of advice that has helped you over the years?
A: Persevere and forge ahead bravely, so you can live up to your full potential.
