GT boss excited by huge Chinese opportunity

THE opportunity presented by trade with China for Liverpool and the North West is almost unprecedented, but will only be earned through passion, hard work and a serious commitment to the market, a business leader said today.

Neil Sturmey, managing partner at business advisers Grant Thornton in Liverpool, said his trip to Shanghai this week as part of a professional services delegation from the city to the World Expo, has been invaluable in opening his eyes to the potential for growth in China.

He said: “It’s almost too hard to get your mind round – because even Shanghai by itself is so massive. I don’t think until you see what a city of 20 million people is like you can grasp the sheer scale of the opportunity. There is just an incredible buzz around the place.

“It is almost so different from anything we have had before as an opportunity, all you can try and do is to think about how you can best organise yourself to give yourself the best chance to succeed.”

Experts predict that while the UK and the other major Western economies are still recovering from the recession, China’s economy will continue to power ahead at a rate of between 8-10%.

Opportunities for professional services firms like Grant Thornton exist as Chinese companies look to expand into Europe, and seek profile on the world stage.

Yesterday GT and London law firm Norton Rose hosted a series of workshops aimed at wooing Chinese companies to the Alternative Investment Market, which attracted more than 130 businesses and professional advisers.

Mr Sturmey said: “The key thing is that London is still one of, if not the financial services capital of the world,  Chinese companies aspiring to the world stage see that as an extra sign of credibility.

“If you look though at the UK’s strengths, clearly the expertise in the professional services market, which is obviously why we’re here with DLA Piper and others this week at the Expo, gives us a head-start.”

Having met with colleagues from Grant Thornton’s 300-strong office in Shanghai, Mr Sturmey believes that despite differences in how business is done in China, the culture and attitude of the people is very similar. He is convinced too that there are really great growth prospects here.

“From the people I have met in Grant Thornton in Shanghai, the values, the kind of work they do, and the kind of clients they have is very similar, which means we can forge links here which will give us the best chance to maximise the opportunity.

“Looking forward there might be scope for consolidation I believe the scope for our Chinese firm to grow is huge,” Mr Sturmey added.

Full of praise for the work being achieved at the Expo Pavilion by the staff of Liverpool Vision, he is optimistic for the city’s prospects in terms of potential future investment from China.

“Being here is  the only way to get to know people, face-to-face. Quite a few of the people I have talked to have refer back to the way of doing business in China, which is all about relationships.

“The other thing you do see in Liverpool businesses is a lot of pride, passion and getting stuck into things and the Chinese I think like to see that passion and commitment in the relationships they have in business, and there is no way you can do that remotely.

“The Liverpool Pavilion has been fantastically well received and the Liverpool Vision people have clearly put their heart and soul into it, and that is what the Chinese look to see.

“We are at the start of the a long road, but you have to start somewhere.”