On 18 May, INAA Group hosted a successful introduction and business exchange meeting in Shanghai. The programme was designed to introduce INAA's global reach to selected contacts in Shanghai with interest in exploring new business opportunities. The event gathered over 40 senior participants, half representing INAA member firms from 11 countries around the globe, and half invited guests from the local business community, mostly representatives from accountancy firms in Shanghai.
The programme opened with a presentation on the INAA association, its vision and successes, delivered by INAA Vice-Chair, Shariq Contractor of CNK & Associates LLP, India. Particular attention was given to INAA's role as a multiplier of business and investment opportunities for INAA members and their clients – firstly by facilitating business operations in new markets and then by introducing clients to further expansion possibilities through trusted business contacts.
Further informative sessions were prepared on the theme of "Doing Business With" with a focus on three key locations that INAA's market research efforts with the Shanghai business community had shown to be of particular interest: the UK, USA, and Hong Kong SAR. The sessions were delivered by INAA Members in each location: Mark Hubbocks, Partner, Wagstaffs Chartered Accountants, UK; Jay Freeberg, Partner, Janover LLC, NY, USA; Kenny Tam and Peter Wong, Kenny Tam & Co. Certified Public Accountants, Hong Kong SAR.
Click here for the presentations.
Each session provided expert input on the local business environment, economic climate, and outlook; specific case studies on collaboration with Chinese businesses; and highlighted opportunities based on the members' client portfolio and sector expertise of particular relevance for collaboration with Chinese companies. The sessions stimulated ideas on potential investments coming into China from INAA member clients and also provided crucial information for Chinese businesses considering investment or expansion opportunities abroad.
In addition to the educational programme, ample time was devoted for personal introductions networking between the participants. The experience was neatly summed up by Eileen Liang, Shanghai Transventure Business Consulting Co., Ltd., who stated, "It was a valuable chance for each participant to connect, exchange information, share ideas and check future markets. We are all in one world, one market without boundaries and barriers".
According to Shariq Contractor, running such events is a key component of INAA's strategy. He concluded, "these meetings are the demonstration of our INAA Vision in action: Make global business personal and take personal business global".
One of the INAA members attending was Michael Bornhausen of Bornhausen Consulting, Germany. Michael's assessment of the event was also positive, "I found this specially arranged meeting very useful. It will be necessary to do a follow up after those short discussions with our Chinese guests but everyone I spoke to was very interested in INAA. Looking to the future, it may be a good idea to have INAA meetings in important destinations where we seek to recruit members. It gives us a chance for personal contact and discussions with potential applicants."
The INAA secretariat has already followed up with all the invited guests at the meeting, sharing the event presentations, links to the INAA member directory and information on how to join. These relationships will be continually followed up on, with the intention to add both business contacts and INAA members in Shanghai over the coming months.