Taiwan needs foreign investors for growth, but hurdles remain

Entrepreneurs not only drive economic growth, but they also provide jobs for the local population.

However, entrepreneurs from overseas still face some barriers in setting up business in Taiwan.

One is the language barrier, since there are fewer English-speaking people in Taiwan than in Hong Kong or Singapore. To learn about the market, find strategic partners and investors, and market their product, foreign entrepreneurs who don’t have Chinese-language skills rely heavily on their local partners. Without a common medium of communication, people find it hard to build relationships, which is an important determinant of business success.

How Taiwan can survive, even thrive, under China’s long shadow

Another problem is the conventional banking system. The high cost of international transactions and foreigners’ difficulty in obtaining a loan often demotivate entrepreneurs.