The authority is not limited to the level of business venture Persuasion means

The authority is not limited to the level of business

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The authority is not limited to the level ofbusiness venture.Persuasion meansThe Chinese and international clients of theidentified SMEs are quite questioning.The clientele is quite aggressiveThe members of associated businesses areenduring in the ventureThe business partners have low enduringcapability. Instead, they are aggressive.Terms and conditions on agreementThe associates are in most cases involved insigning long-term business relationships.The members have a tendency of forging onlygood deals.
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14.4. Distribution of Family businesses and state owned firms in Republic of China.Just like the United Kingdom, there is a quite distinguished distribution of small enterprisesotherwise known as family businesses. These businesses also are in close association with thegovernmental and other institutional business units in the Chinese economic environment.Table 8: Distribution of Family businesses and state owned firms in Republic of ChinaType of industryFamily owned firmsState Owned FirmsNumber offirms%Numberof firms%Wholesale, travel and retail businesses142.1 %5019.3 %Transport142.1 %2334.3 %Public Utility00.00 %651.2 %Textile and Garment industry395.8 %3336.2 %Multi-party segments18928.98 %61211.3 %Agriculture and economics355.2 %1522.8 %Chemical industry365.4 %57410.6 %Food, wine and beverage industry131.9 %1903.5 %Real estate and finance businesses375.5 %1512.8 %Metal and Fabrication industry00.00 %2925.4 %Light Industry568.3 %3947.3 %Electricity and Energy industry40.6 %2224.1 %Construction material345.1 %2504.6 %
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1Communications and electronics12118.0 %4438.2 %Medicine industry527.7 %3536.5 %Heavy sectors274.0 %64111.9 %Total671100 %5406100 %(Xianga, Shamsuddin and Worthington, 2015)4.5. Main challenges faced by family businesses in Republic of China.Just like any other small business venture, the Family businesses in Republic of Chinahave been associated with a number of challenges in their development strategy.Table 9: Main challenges faced by family businesses in Republic of ChinaChallenge/ contributing factorThe relative percentage contributionLow business capital 25.0 %Raw material insufficiency3.1 %Skilled manpower8.0 %Competition in the business environment14.2 %Facilities for offering credit22.4 %Location of the businesses/ strategic positions27.3 %Source: (ABDUL HAMID, 2015).Table 10: The main financing strategies of Family businesses and SMEs in Republic of ChinaSource ContributionRetained earnings59 %Informal sources2 %Banks 8 %
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1Credit facilities2 %Other sources12 %Retrieved from: (Entrepreneurship, Enterprise and Innovation, 2015)
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15.0. Data Analysis.5.1. Family businesses in the United Kingdom.In 2010, the number of enterprises run by families in the United Kingdom had a total ofabout 3 million, (Johnson, 2015). This does not just incorporate big business institutions only,but also the smaller ones too. These firms form about 66 % of the total number of enterprises inthe United Kingdom. Based on this data 75% of the stated family businesses were micro-business units with low numbers of employees at times none. Unemployment is possibly due thecontinued recruitment of family members in running the family businesses. Larger familybusinesses are the ones associated with employment of large numbers of people in the country. It
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  • Fall '16
  • Becky Melton

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