Slow Season with New Beginnings

Disclaimer: The purpose of this article is to document my professional experiences, serve as a personal follow-up reminder and potentially provide value to readers. Real names of individuals and companies may be mentioned. However, all opinions expressed are my own, and the content is based on my personal perspective and experiences.

Usually, between the end of the year and Chinese New Year, my business slows down. It’s a pattern I’ve grown familiar with over the years but the anxiety always creeps in. To keep myself from overthinking, I busy myself with arranging business trips, reconnecting with friends and partners seeking new opportunities.

Right before the year ended, I received a call from one of my closest associates, Pai Chee. He’s been a pillar of support throughout my journey and he shared the news that he has officially retired. I felt a mix of happiness for him and a strange sense of loss. Time moves so quickly—it felt like just yesterday when he first mentioned retiring six months ago.

We met five years ago, back when he returned from Guangzhou to head CSGKC’s (China-Singapore Guangzhou Knowledge City) Singapore office. He quickly became my encyclopedia for insights on the China market and often spoke at my business sharing sessions, thanks to his vast experience and deep understanding of the region.

One memory stands out: my trip to China in 2022 during the lockdown. Despite the challenges, I was determined to go. Pai Chee initiated and helped me set up VPN so I could still access all my usual websites and apps. His support made a huge difference, especially during the 21 days I spent in hotel quarantine.

We recently caught up over breakfast, where I had the chance to thank him personally. He shared his retirement travel plans, which honestly made me a bit envious.

While sending out electronic Spring Festival couplets (春联) to my contacts as an early Chinese New Year greeting, I received a timely message from Wang Nan, one of Pai Chee’s colleagues. He expressed interest in exploring potential collaboration to help Chinese companies expand into Singapore. I let him know I had already arranged a business trip to Guangzhou in March and offered to hold a session at their venue to gauge the response.

This business trip was initiated by a Guangzhou business contact who visited Singapore last year. She hopes I can be there to engage with the audience more closely. In addition, I have gotten to know many contacts mainly from Guangzhou over the past two years, some have become my business project partners. This trip feels like the right time to visit them, deepen our rapport and explore new opportunities.

In addition, I received enquiry from a Fujian contact who had a request from their education institutions to offer course advancement in Singapore and looking for collaboration with Singapore private institution. Although it's a lucrative market, I always feel annoyed handling anxious Chinese parents and managing kids especially those who don't want to study. Still, trusted my Fujian contact's capability and another reliable business associate in Singapore private education, I decided to bridge the deal.

I visited the school to find out more about their courses and facilities. Interestingly, this school was founded before Singapore’s independence and has a good mix of local and international students. They also have their own hostel, which is a big plus for foreign students since finding a place to stay in Singapore is always a headache.

Recently, Singapore and Malaysia exchanged an Agreement on the Johor-Singapore Special Economic Zone (JS-SEZ). The JS-SEZ Agreement aims to strengthen the value proposition of Johor and Singapore to compete for global investments by:

1. Improving cross-border goods connectivity between Singapore and Johor;
2. Enabling freer movement of people; and
3. Strengthening the business ecosystem within the region.

The announcement of the JS-SEZ has further elevated Singapore’s appeal as a gateway for Chinese companies looking to expand into Southeast Asia. With the unpredictable policies of the new U.S. President, Donald Trump, many Chinese businesspeople are feeling anxious and leaning more toward Southeast Asia for stability. Singapore’s strategic location and robust infrastructure make it an ideal hub, and the JS-SEZ strengthens its position as a bridge to the Malaysian market.

My Chinese contacts have already picked up on this opportunity. Their inquiries about establishing in Singapore and expanding to the Malaysian market have started coming in again. Sometimes, I’m really amazed by their forward-thinking.

For this reason, next month I'll organize a sharing session related to Singapore and Malysia market entry & other policies especially in Johor-S’pore Special Economic Zone. I believe the recent announcement by both leaders will attract both Singaporean and Chinese entrepreneurs who want to learn more.

Some related this to Hong Kong and Shenzhen collaboration model but I think this will likely be more complicated due to differences in political systems, demographics, policies, and business practices. Stay tuned.

Key Takeaways:

1. Leverage Relationships for Growth: Trusted connections like Pai Chee can be invaluable for navigating challenges and expanding market knowledge. Building and maintaining such relationships can open doors to new opportunities.
2. Seize Regional Opportunities: The Johor-Singapore Special Economic Zone (JS-SEZ) offers a significant gateway for businesses looking to expand into Southeast Asia. Entrepreneurs should explore the advantages of cross-border connectivity and the complementary strengths of Singapore and Johor.
3. Be Forward-Thinking: As global uncertainties arise, such as unpredictable U.S. policies under new leadership, diversifying into stable regions like Southeast Asia can mitigate risks and unlock growth potential.
4. Capitalize on Changing Market Dynamics: Stay attuned to shifts in market sentiment, such as Chinese businesses' growing interest in Southeast Asia, and position business cater to these emerging needs.