Kadence bound for Hong Kong, Shanghai in 2008

UK-- Business research group Kadence is plotting to break in to China this year – keeping the heat under its growth plans despite cooling UK and US economies.

CEO Simon Everard is bound for Hong Kong at the end of March to join research director Matthew Coulter in scoping out a permanent residence for the firm. Once established, the HK office will act as a springboard for the launch of a sales office in Shanghai.

Coulter has already made a preliminary visit to the mainland city and was impressed by the level of demand for research services.

“We went to see a few companies to make introductions and we walked away with four briefs,” said Everard.

Demand is also high in India. Everard said Kadence's office in Delhi had doubled in size in the year since its launch, and he expects that within two years revenue from the group's six Asian offices – Delhi, Hong Kong and Shanghai, plus Kuala Lumpur, Singapore, and Jakarta – will match its UK and US revenue.

The Asian businesses can expect to catch up quicker if weakness in the UK and US economies leads to full-blown recession. Everard said it had been a “reasonably quiet” start to the year for the UK and the US, coming off the back of revenue growth of 18% and 28% respectively in 2007. Total group revenue for the year was $9.3m, up 18% on 2006.

Author: Brian Tarran

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