Dear Desi-Driller

A person can start with a small amount also. To give you an example. we can think of starting iwth USD10K if we are importing toys. This is just an example.

I think considering the consumers and market of Canada, one should think of the items which are reasonably priced and will sale well in volume.

For example, electronics, toys, jackets, snow boots to name a few. One can also think of leather items, like purse, wallet gloves. I do not know the demand of crafts there but this could be a possibility too.

Regards,

Joyhk,

While your basic idea is good, you have to clearly define:

1. What exactly is your objective - to set up a business which is ripe by the time you come over to Canada, or to actually get into a business and remain in HK if the business grows and it is felt that your presence in HK will be more useful to the business than your presence in Canada?

2. What is it that you bring to the table? From what you have told me, pardon me for my saying so, except for a few friends who do business with China, you have nothing else to offer. These friends are most probably professional aquaintances you have developed as a banker, and believe me, once you are out of the bank, no one is going to let you know the 'how to and where from'.

3. That brings me to another question: are you going to continue with the bank while business is being developed, or will you leave the bank and be actively involved in procurement? I have been a trader, and believe me, you have to constantly meet up with your suppliers, negotiate (and even entertain- in case he represents a big company!), and travel for inspection at times. You will NOY be able to do that (or not justifyably) while workin in the bank.

4. Are you able to put up any money - or you are offering only procurement services. If that is so, I do not think I personally would be interested, because as AKG has written, such persons are available a dime a dozen (or should I say, a dozen without a dime!!!). If you are not able to put up money, will you be able to help in financing by getting me trade finance facilities (non-funded like DA, or funded like bills purchase). If so, what do you think I have to put up as margin to get a facility like say US$ 200,000 (it is no use doing business less than that - that is just to meet up your overheads, and perhaps break even) - taking into account that I am not a local HK resident with nothing to offer in terms of local asset except a margin money in cash.

5. What do you expect from your Canadian counterpart in return?

These are just some questions to further clarify how we can bring about synergy in our operations.

Chandresh

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Chandresh

Advice is free – lessons I charge for!!

Hi Chandresh

Thanks for your thoughtful reply.

1. My objective is to set up a business and should it run well and the business demand is to stay here, I may decide not to leave HK and settle in Canada. In fact when I have applied for immigration I was quite enthusiastic to settle in Canada. But frankly speaking, after spending some time in Canada and receiving some feedback (of course there is always other side of the story which is good but very few in numbers), at this moment I am not very keen to settle there. The job that I am doing here is good, the benefits are better than any other place for my profession and this place is amazingly convenient in any sense.

But one thing is sure that there is a good business opportunity in Canada which inspired me to write to you guys.

2.They are all my personal friends. I never mix up my professional life with the personal one. They are all my school friends who are here for about 15 years and running their well established business houses.

3.It's really situational. If the business goes well, why not spending full time on it? My experience in the Banking Industry for about 12 years prepared me quite well to strike the balance where needed.

4.When it's business, I will definitely put my money in. Now I am not sure about the scale as it really depends on the market demand and our possible orders in hand. That's why I am in favour of starting it at a much slower pace and scale and to see how it goes. Probably we can consider of making the scale bigger if the demand warannts so.

5.What I want from my partner is:

a.To do an initial research about the market to find what products we can target to supply

b.To discuss with some potential purchasers

c.To discuss with me about the business plan and guide me aout the local market there

d.To actively to marketing and handle financial matter within Canada.

I appreciate all of your questions who spent your valuable time to write here.

I think we have discussed enough and if anyone is serious about it, please let me know by email.

Thanks a lot.

Joy,

Why do you wanna carry on a losing battle with the cynics on this site? there seems to be no one to appreciate your initiative.. like you wrote in one of the posts, you should try starting the buisness by yourself!!

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Orginally posted by loveland

Joy,

Why do you wanna carry on a losing battle with the cynics on this site? there seems to be no one to appreciate your initiative.. like you wrote in one of the posts, you should try starting the buisness by yourself!!

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Chandresh

Advice is free – lessons I charge for!!