Sino Hero Foods Ltd

We just finished participating in HOFEX in Hong Kong  which is Asia's largest food show. Given the fact that it was held in  the shadow of the global swine flu fear, turnout was quite good and the mood didnt seem that panicky (not many masked visitors around ! )

Upon asking, quite a few exhibitors advised that they were rather dissapointed that there wasn't much business to go around and these shows cost a fair bit from USD10,000 to USD30,000 (and more) depending on how large the booth is. 

I have been a big supporter of trade show participation as an effective means to reaching 'real' business clients vs working the  informal (and formal) 'networking' tree which yields erratic results , if any at all. As the saying goes' Do business with strangers as friends and with friends as strangers'. The trade show business worldwide is certainly one that is booming given that everyone is trying to find new markets given their traditional markets are suffering or simply fallen off a cliff. Another huge factor is that most Governments are now subsidizing trade show participations to help SME's ( Small and medium enterprises)expand trade. For example, Australia has an EMDG ( Export market development grant) that pays back upto 50 % of all marketing related expenses. Even Hong Kong has a similiar grants that we have been beneficiaries of over the years and I would strongly encourage all entrepreneurs to fully take advantage of such opportunities.

China is the center of the trade show universe at this time as everyone is thinking this is where the money is. So if you are a trade show organiser in China, good on you ! In fact anything that is a 'platform' to help increase business is doing well whether networking sites like linked in or facebook , trade shows, trade assocations, business clubs (and even dating agencies) and of course alumni associations ( There is always more love at the bottom of the pyramid than at the top of the economic cycle). So if you are associated with any of the above, life should be OK and if you are looking for a job, I would look into these categories.

Now who is winning business in this economy ? The same guys who are getting the jobs. Basically, anyone who can answer clearly to his client or his employer 2 questions, A. How can you make them money or B how can you save them some money. Now that may be putting it too crudely but thats what it boils down to in this environment in which a lot of those  warm, fuzzy and lofty corporate titles are gone or non existent in SME's that are still hiring given the relentless bloodbath the large corporations are taking. Same with business. One has to offer clear cut value whether running a bar ( happy hours are getting happier and longer) or a restaurant (Set lunches with drinks and soups and appetisers included for less than the original cost of just starters) or movie theatres ( popcorn or hot dog free). Basically its a back to basics economy with no frills and no complications as customers are exhausted and' marketed out.' No wonder Wal-mart, Mc Donalds, Cafe De Coral ( Worlds largest chinese fast food chain based in HK), Sa Sa ( Discount cosmetics in HK) are all drawing in the customers. Even coffee shops like Starbucks and Pacific coffee ( Hong Kong based coffee chain ) seem to be doing well as ' Coffee becomes the new lunch' ( Remember its cheaper to meet for networking coffee that try pass that lunch bill through expense accounts)

Small is in and boring is in.  I believe, in this economy ' Dime is the new dollar'.There's just the marginal dollar left and you have to show respect to the client with the hard earned dollar. The upside in a tough economy is that suppliers, service providers, airlines, temp workers, shipping companies are all willing to do smaller deals to keep the busness moving. So in a sense it in a great time for innovation or introducing new products as smaller lots are also viable both in real costs and opportunity cost basis ( fewer opportunities means grab what you can when you can). Friends of mine who are in the teaching/ tutoring businesses are having a great year. Dont tell them about depression economics and finally if you are in Government, things look very good too. For all the criticism that was levelled against being a ' public sector' employee, our masters of the universe in the global corporations and the damage they have collectively caused makes me look at the public sector guys with a lot more respect since 'post bailouts', the 'masters of the universe' have to go back to them to beg for a ' few pennies more.' And the Governments are hiring..... so go get that job !