Whilst it ranks fourth on the scale of physical size, it rates top in terms of population with over 1.3B inhabitants. Only India comes close.

We all buy goods made in China every day. Its adoption of a free enterprise system administered by a one party, totalitarian, communist state, has proved very successful. In part this dramatic transformation from a third world country to a modern dynamic economy has been enabled by the government making decisions without the necessity of consulting an electorate as would be the case in a true democracy.

Whether or not you agree with a government having such power, it has proved effective in accelerating growth, once an internal free enterprise system was adopted of course. This new way of working has produced many hugely wealthy ethnic Chinese business people, several who are now multi billionaires.

The West’s eagerness for cheap consumer goods has kept China’s factories working 24 hours a day for years now, but what of the future?

I see problems ahead for China, it has a massive population who will gradually gain more access to globally produced information, which may in turn unsettle them. At the moment internet access in China is limited due to controls by the government, but whether this is sustainable long term I’m not sure.

Against this backdrop there is the universal advancement of robotics. China’s USP has always been availability of cheap labour. Robots can make things as effectively in Newcastle, Wolverhampton or Swindon, as they can in Hong Kong and they don’t need holidays, paternity leave, or child care!

Why transport goods six thousand miles to their primary markets when they can be made cheaper in your own back yard? This with many added advantages such as, reduction in carbon footprint, instant access to sales markets, and the ability to show potential buyers over your factory in a bid to convince them of your product quality. Buyers are more likely to drive to Birmingham for the afternoon than take ten days going on a tour of Shanghai! All important items in a buyer’s decision.

China’s exponential growth has been made possible by having a cheap labour force who are able to produce goods for the vociferous consumer appetite of the West, however this is under pressure, not just for the reasons I’ve listed above, but also because the West will start insisting on goods being produced ethically. I’m not just talking about carbon reduction but also the payment of proper pensions, education, health care and other benefits, all of which may not be so readily available to workers in China as I write.

Imagine, when true pension reforms come in within the Peoples Republic! If we struggle to maintain pension payments to our elderly in the UK, France & Germany how will China manage when doing so will be a requirement of a truly industrialised nation, rather than just an internal governmental choice.

We hear talk of China overtaking America as the world’s leading economy but for me being a leader is about more than money. It’s about democracy and how you treat your people. It’s about giving them the power to choose, not only what goods they buy, but who rules them too.

With all this in mind it is worth knowing that Chinese consumers covet goods made in Britain. Goods made here are seen as well made and can acquire an iconic place in Chinese homes.

Dairy products are one area which offers opportunity. Chinese consumption of dairy products is set to rocket. Optical goods offer another. British Cars such as Rolls Royce, Bentley & Range Rover are sought after status symbols by the growing breed of rich entrepreneurs throughout China and wave a flag for the UK.

It has been reported that by 2020 China’s import market will be worth over 3 trillion US dollars. That’s huge, and will only grow as the many Chinese tourists who visit the UK every year try to obtain products they first saw on the streets of London.

So if you’re an entrepreneur wanting to grow your business have a good look at China as a place to export your goods or service. Will what you have to offer suit the Chinese market? If it does there are over 1.3billion customers waiting to hear about it.

Write to the British Embassy’s commercial department for information about how to best approach this unrivalled opportunity.

By the way my observations about democracy and the future of reforms in China are personal views. I love China and its people who are among the nicest and politest on earth. The Chinese are reserved at first but are wonderfully cheerful and positive so don’t be put off by that apparent inscrutability. They are just weighing you up. Prove you’re trustworthy and you will have no problem dealing with them.

One last thing, make sure you visit the country, before, and not after you start trading there.

Image China via Shutterstock

Read more:
China as an Export Market

Many start ups fall into the mistake of taking on too many overheads, particularly fixed overheads such as office space and cars. It’s tempting to convince yourself that you must have an office where people can come and see you but in reality there are many appropriate, and often free, alternatives. I’ve found that public libraries in particular often invaluable resources.

One of the most significant benefits of public libraries for businesses are the resources they can offer. Not only do they provide free internet access, which in itself is an essential tool, but some libraries have dedicated business centres, such as the British Library in London, which can offer a range of tools, resources and advice to entrepreneurs and business people including help with safeguarding their intellectual property.

These dedicated business centres offer a range of services and resources aimed at start ups; from helping to develop business plans and researching prospective markets and clients to networking and advice on protecting intellectual property.

Keeping business overheads low and maintained is essential, especially for new businesses starting out. Many small to medium-sized companies fail to understand this and can often rush and commit to renting unnecessary office space that they see as essential, in a bid to come across as a “proper business”. However, spending unnecessary funds on office space and the like is one of the easiest ways to see overheads steadily rise and begin losing control of the finances. It is especially unnecessary with ever-evolving mobile technology allowing entrepreneurs to work whilst on the move. This flexibility, aided by technology, has lead to an increase in ‘third space working’ that has allowed business owners to cut down on their fixed costs; with public libraries proving to be a particularly prevalent choice as a work space.

The business landscape has changed dramatically in recent years and SMEs nowadays have a wealth of free or low-cost options where staff can work, socialise or hold meetings. Being out of the office once meant that executives were forced to hop between high-street coffee shops in order to access the internet and check their emails. Now the face of ‘third space working’ has altered into a much more proficient operation.

Many public libraries have free wifi for research and email access, as well as areas to hold informal meetings. Most libraries also offer more formal meeting spaces specifically catered to entrepreneurs and business people wanting to meet clients, employees and network with similar organisations.

In recent years, the role of the public library has dramatically transformed into a hub offering advice and resources to budding entrepreneurs, SMEs and start up businesses. However, it is essential that aspiring business people understand the options available to them to ensure they have control on their overheads and understand that one of the most powerful and useful business tools could be found in their local town centre.

Image: British Library via Shutterstock

Read more:
Keeping Business Overheads Low With the Help from Public Spaces

For many entrepreneurs, launching a business is an exciting time.

Focusing so much effort into your ideas and seeing them take form is a great achievement.

However, I have spoken to a lot of startups in the past that feel as though they have reached the finish line by simply getting their business off the ground. In reality, this is when the hard work really begins.

For the past few years we have been exposed to the notion that more young people are starting their own businesses than ever before; with a recent report by the Prince’s Trust suggesting that 42% of young people are considering going it alone and starting a business. With government initiatives and schemes in place to promote entrepreneurship in the UK, it’s no surprise we are seeing more start-ups than just a few years ago. Whilst this entrepreneurial spirit is commendable, particularly in a time of economic uncertainty, it’s important that those wanting to start a business to think of the bigger picture beyond setting up, if they want to have longevity as a successful entrepreneur.

Planning for the long journey ahead

Most businesses start with an idea; it is the planning and hard work that turns this idea into a reality. It’s important to have a plan of your short-term and long-term goals as a way to ensure you know what is realistic and achievable. It is also useful to keep looking back at your plan as you progress as a reference to what you have already achieved. This can also be a useful way to keep yourself motivated in times of hardship so you can focus on the positives.

Look for new inspiration

A key to lasting success, and building upon past achievements, is to continue developing new and fresh ideas. It’s a good plan to keep up to date with shifting trends and emerging markets within your industry, and industries that directly affect it, to help inspire you. If you are constantly aware of what is happening within your industry, and those around it, you are more likely to spot gaps in the market and think of how you might utilise these. I’d also recommend keeping a notepad or even your phone or tablet, to write down your ideas for when inspiration does come to you.

Venture outside your comfort zone

When you’ve been working in business for over 40 years, you tend to learn what works and what doesn’t; which could lead to you becoming too comfortable in your job. Whilst having the stability and knowledge to determine what succeeds is essential, it is also important to step out of your comfort zone every so often and dip your toe into uncharted waters.

The foundations of entrepreneurship are built on taking risks and not being afraid to fail. Of course I’m not suggesting business owners play fast and loose with their company’s money but being able to think outside the box and make smart decisions will enable you to lead a long, successful and exciting career within business.

Read more:
Secrets to lasting success

The old Soviet Union frowned on business activity which resulted in driving most of it underground. Which in turn gave money to tax avoiders and criminal gangs rather than benefit wider Soviet society.

China on the other hand has embraced business and recognised that without it progress is stunted and the population becomes disillusioned.

During 2008 when the capitalist world was in disarray people would often say to me things like “Its finished, America will never recover, the free enterprise system is dead”. I said then,as I say now, that America will always recover as long as it is a democratic country which puts free enterprise at the top of its agenda and couples that ethos with care for its citizens and those of the world.

Of course the free enterprise system isn’t perfect, but then nor are any others. I spent time in both East Germany and Russia during the cold war period and believe me it wasn’t nice. I prefer to live in a society that allows people from poor backgrounds like me to achieve something in life and look after their own families in the process.

Without growth and dynamism there is no money to spend on the public services we all rely on like the NHS, responsible policing, good education and care for the elderly. That to repeat myself is why Business Matters.

Business is not at war with the public sector, we need each to embrace the other for society to reach its potential.

I would love to see a doubling of money spent on education, health, and all other public services, but first that money has to be earned. Governments exist on money paid in taxes by its citizens, how else are roads to be repaired, hospitals improved or extended education periods paid for.

Any business which is responsible and cares about its employees as well as its shareholders is a social enterprise by default. Of course we must look after shareholders, how else will public companies persuade people to provide the capital needed to firstly create and then sustain the business. Risk capital requires reward or it will simply find another home. In the old Soviet Union that used to often be under the bed where it did no one any good.

I believe in the free enterprise system totally but also believe it is sometimes its own worst enemy, especially in the realm of public relations. SMEs and micro business is vital for every country because it employs a huge number of people and creates so much wealth. Entrepreneurs come in all shapes, sizes, colours and from just about every religion. Many are family people who employ siblings, sons, daughters, wives and husbands. This is the very essence of our multicultural society and why I say that every well run business is in fact a social enterprise. It employs people, produces taxes in the form of both income and VAT and generally serves its local and wider communities.

What would we do without the brilliant Asian stores that sell all manor of spices and other exotic foods. How about the Chinese supermarkets that provide cooks all over the country with special vegetables and fruit, spice and sauces? Never mind the traditional fish and chip shops that serve hungry customers on a Friday evening or Saturday lunchtime.

How about the small manufacturers who make things in places like Wolverhampton, Manchester, Plymouth and Reading and who sell engineering products all over the world and assisting our balance of payments situation.

As I say this system we have of free enterprise is brilliant when properly and thoughtfully embraced and for me at least remains far better than any other system past or present.

Read more:
Why Business Matters…

This brings me quickly to the subject of mentors. Statistically you are four times more likely to fail within the first three years without a mentor than you are with one.

So what is a mentor and how do you find a good one? Well there are various ways you can do this but a good start is at the Business & IP Centre, part of the British Library situated at 96 Euston Road, London.

BRITISH LIBRARY
Many people do not realise the importance the British Library plays in the business life of the nation. Completed in 1996/7 the new building which houses the nation’s literary treasures brought many comments regarding its external appearance, both good and bad, from various quarters including HRH the Duke of Edinburgh.

A VERY INTERESTED & ENGAGED PRINCE
I was fortunate enough to have lunch with HRH Prince Philip & HM The Queen when the Royal Couple visited Bristol at the end of Her Majesties Jubilee Tour and was able to explain to a very interested & engaged Prince Philip just how important the British Library is to the well-being of Small to Medium-sized businesses, with a failure rate of those mentored within the Business & IP Centre, where I am Entrepreneur in Residence, amongst the lowest in the Country.

In May 2005 the British Library received a grant of one million pounds from the London Development Agency to change two of its reading rooms into the Business & IP Centre which opened its doors officially in 2006. It holds arguably the most comprehensive collection of business & Intellectual property material in the UK and is the official library of the UK intellectual & Property Office.

The British Library was originally part of the British Museum but became an entity in its own right in 1973, moving to its present home in 1997. It is the National Library of the United Kingdom and one of the two largest libraries in the world, the other being the Library of Congress in Washington DC, USA.

Various mentoring programmes are available within the Business & IP Centre including its revered Innovation for Growth programme which attracts many plaudits. If you are a London-based business, have been established for over a year and have an annual turnover of £100,000 the Innovation for Growth programme can help you fulfil your growth ambitions.

By joining this well thought out business support programme you will get bespoke advice to help you make the leap. With business experts and unrivalled research collections the Business & IP Centre can help you develop and implement a sustainable strategy for your business growth.

Whether you want to enter new markets, both home and abroad, expand your business to new outlets or develop your product or service range to reach new customers a visit to the centre is a must.

You can also receive personalised advice on protecting your intellectual property and increasing the power of your brand to give you the opportunity to take advantage of new commercial opportunities.

Other benefits include:

• A dedicated relationship manager & one-to-one mentoring and advice
• Membership of the much revered ‘Growth Club’ with peer-to-peer networking events
• Exclusive access to the British Library Entrepreneur in Residence who just happens to be me!
• Featured in Business & IP Centre media and marketing campaigns with a listing on their official website which will raise your profile and that of your business.
• Complimentary tickets to events with the chance to meet high profile speakers

To find out more visit www.bl.uk/bipc/innovating.html

HEROPRENEURS- Battlefield to Business
There are other mentoring programmes around the country including one for ex-military personal managed by the military charity [ilink url=”http://www.heropreneurs.co.uk”]Heropreneurs [/ilink]with over 20,000 people leaving the military this year alone there is a vital need for more mentors within its programme so if you are an experienced business person why not apply?

As I said at the beginning of this article, new and growing businesses have a much better chance of survival with access to a mentor so seeking out an appropriate programme should be high on the agenda of any person seriously wanting to create a new business, or progress one they already run to the next level.  http://news.bis.gov.uk/Press-Releases/Government-delivers-better-access-to-business-mentors-67c45.aspx   will give more information from the Government on this.

It may also be worth contacting the Princes Trust to see if they have any appropriate schemes which you can join, visit their website for more information http://www.princes-trust.org.uk/?gclid=COKxwdS2s7cCFZQZtAodOAIADQ .

Being in business for your-self is a wonderful thing but to enjoy the benefits you need to survive the early years. Taking a mentor will help you achieve this.

Read more:
The Importance of Mentoring

I first heard of Mrs Thatcher, as she was then known , in or around 1970 when I was about seventeen, it was the time she was elected as Education Minister in Ted Heath’s government so was responsible for stopping school milk, which resulted in her being labelled by the left, “Thatcher the Milk Snatcher” which seemed a bit strong to me as a young person just starting out in business because I knew for a fact from my time as a school milk monitor that most of the milk in my school was either thrown away later in the day or used by kids to throw over each other in an attempt to stain their school uniform and get someone else into trouble.

It was Lady Thatcher’s determination and focus that really stood out for me, my Mother and Father were both loosely labour supporters, not because they were politically driven but because they were working class and so believed that they should vote labour.

For that reason I don’t come at this from any political angle and am looking at it from the perspective of an entrepreneur & businessman who grew up on a rough council estate and who fully understands both sides of the coin.

When Thatcher first came to power my brother in law was a shop steward at a British Leyland that was beset by strikes. He was a die-hard socialist and was initially firmly against many of Margaret Thatcher’s policies, however as the years went by he became a Thatcherite as did many of his contemporaries in the union movement, together with a huge number of council house tenants who felt that for the first time someone fully understood their aspirations rather than just trying to address the symptom of never ending poverty and neglect.

What I mean by this is that Thatcher recognised that raising benefits, as an example, was just treating a symptom rather than creating a cure to joblessness. Creating jobs for an aspiring working class were what sustained her in power for nearly twelve years rather than the old Tory Public school brigade who often treated her as the outsider she clearly was.

If you look at the facts it’s was in fact the Tory old guard that got rid of her rather than the electorate. History records that she was never defeated in a general election.

I firmly believe in social enterprise and supporting the genuinely less well-off and understand why many people didn’t like Thatcher but it needs to be remembered where the Country was in the years before her. Mass unemployment on a scale not seen since the thirties, a three day week that neither of the major parties had a clue what to do about and a few big unions controlling many aspects of life for the general population of over sixty million when they only represented a few hundred thousand.

Whichever political party is in power, providing they got there by democratic means I support them. Democratic means free elections for the whole country and not a small group who then use their key worker status to create mayhem until they get what they want.

Many of today’s entrepreneurs come from backgrounds just like me, embedded in true working class ethics of a proper days pay for a proper days work.

I am all for more money for pensioners, NHS staff, teachers and other public servants and am particularly concerned about the welfare of our truly unemployed and even more so our long term disabled but the money has to come from somewhere and this means from the private sector.

Free up our private sector so that we can produce the jobs and wealth our country needs, don’t bog us down in relentless regulation and endless paperwork, allow us to get on with creating wealth and we will do it.

We need people and the media to stop rejoicing in our failures and start praising our successes, of which there are many. Just look at the life changing inventions that have been created by British entrepreneurs, the Internet for one, invented by Sir Tim Berners-Lee who follows a tradition of British inventors of such things as the small pox vaccine, the postage stamp, the television, radar and DNA fingerprinting.

We are an amazing nation of entrepreneurs and inventors and the mother of democracy so let’s stop running ourselves down and saying the nation is going to the dogs! No it isn’t, unless that is The Isle of Dogs of course where another of our great successes took place in 2012 – the Olympics.

Read more:
Mrs Thatcher was a true revolutionary

Really good news also about the help the Government are offering for child care and the reduction in corporation tax which will encourage overseas businesses to open up in the UK.

The news about the increase in jobs created by the private sector doesn’t surprise me because while travelling around the Country I have noticed jobs being advertised outside businesses on boards, a bit like we used to see in the 1970s. I have been mentioning this for the last few months so it came as no surprise to me that the small to medium size enterprises, such as those I support in my role as Entrepreneur in Residence at The British Library, are beginning to create the wealth and jobs the country needs so badly.

Ed Balls continual bickering over very small issues for the sake of scoring ridiculous political gain does neither him nor The Labour Party any favours. We need leadership not bickering for the sake of it, through what still is a fiscal tsunami that has been blowing throughout the World since 2008. It is no good Balls keep saying it had nothing to do with him because he was part of the Government that managed the situation so badly.

I think the overall budget was quite good given what the Chancellor has been left to deal with. It is impossible to continue spending more than we earn so tough decisions have to be made if we are to nurse the UK economy back to health.

Focus should have been applied to building relationships with the Tiger economies such as China, Brazil, India & Russia ten years ago rather than being so Eurozone focused but at least this coalition government has recognised this and are trying to do something about it now.

Read more:
A good Budget from Osborne considering what he had to play with

This is news to me, and I can absolutely confirm that I have not been approached by anyone in this regard and in any event am not available due to the fact that we are in early negotiations to create a new business based programme for a rival network.

I suppose that my being Entrepreneur in Residence at The British Library pushes forward these type of rumours, but that’s all they are I’m afraid, rumours. We have our own agenda with regards to TV and I am concentrating on that for now.

We desperately need new businesses to create jobs in the private sector that will replace those lost in the public area. I am meeting with Richard Morris CEO of Heropreneurs the military charity during February with the intention of progressing our programme of assisting people coming out of the military with setting their own businesses up.

Jobs are scarce for soldiers and other service people when they finish serving our Country and self employment is a real option if they go about it in the right way.

That is the purpose of Heropreneurs, and the reason I agreed to become a patron. People that have given so much to protect and serve their Country should be able to expect support when attempting to enter civilian life.

Anyway going back to the Dragons Den rumour for a minute because I have just recieved another call whilst writing this, I reiterate that I have not been approached, am not expecting to be approached, and in any event am not available at this time due to other commitments.

Read more:
I’m not replacing Theo Paphitis on Dragons’ Den

In my opinion the internet is affecting the high street more than might first be realised. Shopping online has become something enjoyed by young and old alike, and once embraced by the over 50s was sure to take on a life of its own. As soon as mature people in their 50s and 60s were happy to shop online the days of high street dominance within retailing were numbered. The worldwide web is just that – A worldwide phenomena which has wrapped its Octopus like arms around just about everyone from David Cameron to Katie Price.

Life before the web seems a long time ago, although in reality it is less than a decade. John Lewis are apparently expecting sales online to match in store purchases by 2015 and with enhanced security it is likely that many other retailers will follow suit.

We live in a changing world with many familiarities being eroded daily. Things like door to door milk delivery and even post delivered to your door may soon seem but distant memories.

Succeeding in this ever changing environment is a challenge even for the most resourceful amongst us. New regulations and European directives abound with laws given life in Brussels and few of the British population understanding how they came about being commonplace.

A Global economy means just that, an economy with global proportions and aspirations, however the problem appears to be how we marry all the various elements to create a better World overall? Anyone with a definitive answer to this will attain World Statesman status.

So have Cameron, Holland or Merkel got what it takes? Do the prime ministers of India, Brazil or China really have the international appeal or ability, the jury is out on all these points and the World holds its breath in anticipation.

In my opinion one of the major issues the global economy will face in the next decade will be the advance in the science of robotics.

Humans need holidays and lunch breaks and robots do not, in many ways it’s as simple as that! What might not be so simple is dealing with the rise of robots which are able to do very complex tasks such as driving vehicles unaided and flying aircraft into enemy airspace as drones do now. This technology is likely to be used in passenger aircraft at some point in the near future too.

We live in an ever changing and thought provoking world which will inevitably be very different in 2030 than it is in 2013. Cars being driven by robots, books disappearing from our homes, only to be replaced by all in one computers that encompass TV/Radio and internet with the ability to change the atmosphere of your environment at the touch of a switch will be the norm, as will be your car collecting you from the pub and delivering you home without you contravening drink driving regulations which by then will encompass zero tolerance.

We have been through the industrial revolution, the early space age era and the knowledge explosion and now we face the time of expanded robotics. Only time will tell whether this will enhance our lives through working less hours or allow the human tendency for medalling to destroy the world that has nurtured mankind for so long.

Read more:
Jessops Collapse-Why did it happen & what does it mean to the high street?

Similar to angel investment, crowdfunding is a way of raising finances by selling part of your equity. The main difference between the two being, that instead of there being just one investor, you sell your investment idea to a crowd.

For those considering this alternative way of investment, based on my experience and knowledge, I have compiled my top three tips to help you get the most from crowdfunding:

Compliance
Currently the Financial Services Authority (FSA) perceives crowdfunding as a derivative of raising money for funding from the public, which in the UK is currently illegalunless approved by the FSA. The FSA only recognises and approves of one crowdfunding model within the UK – Seedrs.com.

It’s absolutely essential that you investigate your chosen crowdfunding platform and/or website that complies with the Collective Investment Scheme rules set out by the Financial Services Authority (FSA).

It is imperative that the letter of the law is followed, if not then you could be putting your business idea and indeed yourself in danger.

Plagiarism
By its nature, crowdfunding is ideally suited for political campaigns, musicians and charities as this can be supported by fans. However, the exposure of your business idea to a collective group of individuals or investors without any form of NDA (non-disclosure agreement), can leave you and your idea vulnerable and open to being plagiarised.

When drafting your business pitch to present to potential investors, make sure to provide enough information to attract interest, without giving any vital information away. Then, when potential investor(s) step forward, ask them to sign a NDA before you divulge any further information, so you’re protected from the outset. Only then will you be able to fully explain the idea without running the risk of it being stolen.

Ask for more than you need
When an entrepreneur is seeking additional investment, they often try and ‘window-dress’ their opportunity, making their potential investment seem a lot more attractive by asking for less. Yet, when the finance is agreed and provided, the entrepreneur may find that they need more capital, not only will this leave the entrepreneur short of funds, it will also affect the relationship with the investor as they may be reluctant to offering additional finance.

My advice is to always ask for more than you actually need and always have a reserve to avoid the awkward and potentially damaging conversation of asking for more.

If implemented correctly, crowdfunding can be more successful than attempting to source the full investment required from a single individual or organization. But before crowdfunding becomes your prefered channel of finance, make sure you have done your research and carried out the necessary precautions to protect your business and yourself.

Good luck!

Read more:
Top three tips on getting the most from Crowdfunding