It often seems that in order to start a successful business in China you have to have the right guanxi to gain the patronage necessary to fund your dreams. Many of China’s most successful firms owe their success to good relations with the government. Chinese officials have attempted to limit the amount of credit handed out amidst rampant speculation and rising inflation. If you want to start a small tech startup, finding financing can sometimes be a challenge.
Tech has made the world a smaller place and leveled the playing field for many small businesses. The global financial crisis has given more credence to alternative forms of financing with new models like online shopping site Float Money or even more futuristic concepts like Bitcoins. Caixin recently profiled the ways crowdfunding Web sites are providing an alternative for Chinese investors and entrepreneurs.
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