Case Study 6: Bookkeeping for small biz
Business comes in all shapes and sizes in China. Even for small business - local or foreign - there is still quite some compliance that the government requires. For large business this is generally no problem, given the resources they can call upon. What about small business - where do they go?
Our client runs a consulting buiness in Shanghai. Set up as a Wholly Foreign Owned Enterprise (WFOE) it has perhaps the greatest number of compliance requirements of any of the corporate structures in China. Even though her business is relatively small in terms of client base, she still needs to print out the official receipts (fapiao), make monthly and quarterly entries to government and prepare for the annual audit. On top of this, she also has to make sure that her own personal taxes are in order. ManageChina takes care of all of this for her.
